Business, Management and Accounting
6 years ago

Executive compensation significantly influences dividend policy in Nigerian firms

International Journal of Academic Research in Business and Social Sciences
Agency Cost and Dividend Policy in Nigerian Non-Financial Quoted Firms
Okun Omokhoje Omokhudu, Ohidoa Toluwa

Paper Summary

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The study looked at how agency costs affect dividend policies in Nigerian non-financial companies. They used a statistical model to see how agency costs interact with factors like debt, growth, and profits to influence dividend decisions. The results showed that agency costs do impact dividend policies, with executive compensation being a significant factor. However, factors like large shareholder monitoring and insider ownership did not have a significant effect on dividend policies. This suggests that when choosing companies to invest in based on dividend payments, investors should consider executive compensation as an important factor.