| Autor: |
Daniel Ofori-Sasu, Gloria Clarissa Dzeha, Vera Ogeh Fiador, Joshua Yindenaba Abor |
| Jazyk: |
angličtina |
| Rok vydání: |
2023 |
| Předmět: |
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| Zdroj: |
Future Business Journal, Vol 9, Iss 1, Pp 1-17 (2023) |
| Druh dokumentu: |
article |
| ISSN: |
2314-7210 |
| DOI: |
10.1186/s43093-023-00264-7 |
| Popis: |
Abstract This study examines the role of women included in governance system in explaining the impact of dividend policy framework on the risk-taking of banks, using a panel dataset of 52 African countries over the period, 2006–2020. The empirical outcome confirms that independent women on the board has a lower probability of paying dividend, reduce dividend yield and induce less risk-taking of banks while women in country-level governance position seek to protect the interest of shareholders and subsequently increase the likelihood of dividend payments and risk-taking of banks. The study found that banks that pay dividends face stricter market discipline, which in turn reduces banks' risk-taking. The study found that dividend policy framework generally acts as a complement for risk-taking when independent women are included in corporate boards while it acts as a substitute control device for banks’ risk-taking when women are included in country-level governance positions. Based on the net effects, the study found robust and strong evidence to support that the dividend policy framework reduces the risk-taking at higher level of women included in governance system. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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