Dividend payment behaviour and its determinants: The Nigerian evidence

This paper examines the disappearing dividend phenomenon within the Nigerian context by observing dividend patterns between year 2003 to 2012.We investigate possible explanation for the pattern observed by examining factors that determine a firm's decision to pay or not to pay dividends.Finding...

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Main Authors: Abdulkadir, Rihanat Idowu, Abdullah, Nur Adiana Hiau, Wong, Woei Chyuan
Format: Conference or Workshop Item
Language:English
Published: 2014
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Online Access:http://repo.uum.edu.my/11574/1/R.pdf
http://repo.uum.edu.my/11574/
http://umconference.um.edu.my/MFA2014=6e62a992c676f611616097dbea8ea030
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Institution: Universiti Utara Malaysia
Language: English
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spelling my.uum.repo.115742016-04-12T06:44:47Z http://repo.uum.edu.my/11574/ Dividend payment behaviour and its determinants: The Nigerian evidence Abdulkadir, Rihanat Idowu Abdullah, Nur Adiana Hiau Wong, Woei Chyuan HG Finance This paper examines the disappearing dividend phenomenon within the Nigerian context by observing dividend patterns between year 2003 to 2012.We investigate possible explanation for the pattern observed by examining factors that determine a firm's decision to pay or not to pay dividends.Findings indicate a decline in the number of firms paying dividends and a downward trend in nominal dividends paid in latter years. Fixed effect logistic estimates indicate that firms with higher level of foreign ownership are less likely to pay dividends. Our findings therefore provide support for the tax-induced clientele theory of dividends.The study also provide support for profitability as a characteristic of a dividend payer and support for dividend smoothing hypothesis. However, we did not find evidence in support of the catering theory and the life cycle theory of dividend. 2014-06-04 Conference or Workshop Item NonPeerReviewed application/pdf en http://repo.uum.edu.my/11574/1/R.pdf Abdulkadir, Rihanat Idowu and Abdullah, Nur Adiana Hiau and Wong, Woei Chyuan (2014) Dividend payment behaviour and its determinants: The Nigerian evidence. In: 6th Malaysian Finance Association Conference (MFA2014), 4 - 6 June 2014, Sasana Kijang Central Bank of Malaysia, Kuala Lumpur. (Unpublished) http://umconference.um.edu.my/MFA2014=6e62a992c676f611616097dbea8ea030
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutionali Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
spellingShingle HG Finance
Abdulkadir, Rihanat Idowu
Abdullah, Nur Adiana Hiau
Wong, Woei Chyuan
Dividend payment behaviour and its determinants: The Nigerian evidence
description This paper examines the disappearing dividend phenomenon within the Nigerian context by observing dividend patterns between year 2003 to 2012.We investigate possible explanation for the pattern observed by examining factors that determine a firm's decision to pay or not to pay dividends.Findings indicate a decline in the number of firms paying dividends and a downward trend in nominal dividends paid in latter years. Fixed effect logistic estimates indicate that firms with higher level of foreign ownership are less likely to pay dividends. Our findings therefore provide support for the tax-induced clientele theory of dividends.The study also provide support for profitability as a characteristic of a dividend payer and support for dividend smoothing hypothesis. However, we did not find evidence in support of the catering theory and the life cycle theory of dividend.
format Conference or Workshop Item
author Abdulkadir, Rihanat Idowu
Abdullah, Nur Adiana Hiau
Wong, Woei Chyuan
author_facet Abdulkadir, Rihanat Idowu
Abdullah, Nur Adiana Hiau
Wong, Woei Chyuan
author_sort Abdulkadir, Rihanat Idowu
title Dividend payment behaviour and its determinants: The Nigerian evidence
title_short Dividend payment behaviour and its determinants: The Nigerian evidence
title_full Dividend payment behaviour and its determinants: The Nigerian evidence
title_fullStr Dividend payment behaviour and its determinants: The Nigerian evidence
title_full_unstemmed Dividend payment behaviour and its determinants: The Nigerian evidence
title_sort dividend payment behaviour and its determinants: the nigerian evidence
publishDate 2014
url http://repo.uum.edu.my/11574/1/R.pdf
http://repo.uum.edu.my/11574/
http://umconference.um.edu.my/MFA2014=6e62a992c676f611616097dbea8ea030
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