1. bookVolume 63 (2018): Edition 1 (April 2018)
Détails du magazine
Première parution
06 Mar 2016
3 fois par an
Accès libre

Dividend Payout, Retention Policy and Financial Performance in Commercial Banks: Any Causal Relationship?

Publié en ligne: 26 May 2018
Volume & Edition: Volume 63 (2018) - Edition 1 (April 2018)
Pages: 37 - 62
Détails du magazine
Première parution
06 Mar 2016
3 fois par an

Abdella, A. B., Manual, V. (2016) A Study on the Determinants of Dividend Policies of Commercial Banks in Saudi Arabia. Imperial Journal of Interdisciplinary Research, 2(9): 1064-1073.Search in Google Scholar

Abiola, J. O. (2014) Measuring and Analyzing the Effects of Dividend Policy in Banking Profits and Growth. Journal of Policy and Development Studies, 9(1): 167-178.10.12816/0011190Search in Google Scholar

Acharya, V. V., Gabarro, M., Volpin, P. F. (2012) Competition for managers, corporate governance and incentive compensation. CEPR Discussion Paper No. DP8936.Search in Google Scholar

Adesina, K. (2017) Dividend policy and share price valuation in Nigerian banks.Search in Google Scholar

Agbatogun, T. O., Adewumi, A. A. (2017) The Nexus of Dividend Payout and Profitability Performance of Insurance Firms in Nigeria. https://ssrn.com/abstract=2929492.10.2139/ssrn.2929492Search in Google Scholar

Agyei, S. K., Marfo-Yiadom, E. (2011) Dividend policy and bank performance in Ghana. International Journal of Economics and Finance, 3(4): 202.10.5539/ijef.v3n4p202Search in Google Scholar

Agyemang Badu, E. (2013) Determinants of Dividend Payout Policy of listed Financial Institutions in Ghana. Research Journal of Finance and Accounting, http://hdl.handle.net/123456789/88.Search in Google Scholar

Ajanthan, A. (2013) The relationship between dividend payout and firm profitability: A study of listed hotels and restaurant companies in Sri Lanka. International Journal of Scientific and Research Publications, 3(6): 1-6.Search in Google Scholar

Akande, J. O., Kwenda, F. (2017) Competitive Condition of Sub-Saharan Africa Commercial Banks. Studia Universitatis Babes-Bolyai Oeconomica, 62(2): 55-76.10.1515/subboec-2017-0009Search in Google Scholar

Akinlo, A. E., Egbetunde, T. (2010) Financial development and economic growth: The experience of 10 sub-Saharan African countries revisited. The Review of Finance and Banking, 2(1): 017-028.Search in Google Scholar

Al-Ajmi, J. (2010) Modelling the dividend policy of banks in Gulf Cooperation Council countries. Applied Economics Letters, 17(14): 1423-1428.10.1080/13504850903018697Search in Google Scholar

Al‐Twaijry, A. A., Powers, M. R. (2007) Dividend policy and payout ratio: evidence from the Kuala Lumpur stock exchange. The Journal of Risk Finance, 8(4): 349-363. doi: 10.1108/1526594071077730610.1108/15265940710777306Ouvrir le DOISearch in Google Scholar

Allen, F., Carletti, E., Cull, R., Qian, J. Q., Senbet, L., Valenzuela, P. (2014) The African financial development and financial inclusion gaps. Journal of African economies, 23(5): 614-642.10.1093/jae/eju015Ouvrir le DOISearch in Google Scholar

Allen, F., Michaely, R. (2003) Payout policy. Handbook of the Economics of Finance, 1, 337-429.10.1016/S1574-0102(03)01011-2Search in Google Scholar

Asari, F., Baharuddin, N. S., Jusoh, N., Mohamad, Z., Shamsudin, N., Jusoff, K. (2011) A vector error correction model (VECM) approach in explaining the relationship between interest rate and inflation towards exchange rate volatility in Malaysia. World Applied Sciences Journal, 12(3): 49-56.Search in Google Scholar

Ashraf, B. N., Zheng, C. (2015) Shareholder protection, creditor rights and bank dividend policies. China Finance Review International, 5(2): 161-186.10.1108/CFRI-08-2014-0057Search in Google Scholar

Beck, T., Cull, R. (2013) Banking in Africa. World Bank Policy Research Working Paper No. 6684, 1-44.10.1596/1813-9450-6684Search in Google Scholar

Beck, T., Demirgüç-Kunt, A., Maksimovic, V. (2004) Bank competition and access to finance: International evidence. Journal of Money, Credit and Banking, 627-648.10.1353/mcb.2004.0039Ouvrir le DOISearch in Google Scholar

Brighi, P., Venturelli, V. (2013) CEFIN Working Papers No. 43. 1-33.Search in Google Scholar

Byrne, J., O’Connor, T. (2017) Creditor rights, culture and dividend payout policy. Journal of multinational financial management, 39, 60-77.10.1016/j.mulfin.2016.12.002Search in Google Scholar

Chang, T., Lee, C.-C., Chang, C.-H. (2014) Does insurance activity promote economic growth? Further evidence based on bootstrap panel Granger causality test. The European Journal of Finance, 20(12): 1187-1210.10.1080/1351847X.2012.757555Ouvrir le DOISearch in Google Scholar

Crane, L. (2010) Measuring financial performance: A critical key to managing risk. AoE FIELD CROPS TEAM.[online] accessed, 14. doi: www.aec.msu.edu/agecon/blackj/MeasuringSearch in Google Scholar

Damodaran, A. (2009) Valuing financial service firms. Stern Business.Search in Google Scholar

Datta, D., Ganguli, S. K., Chaturvedi, M. (2014) Announcement Effect of Dividend in Presence of Dividend Tax: Possible Agency Problem and Macro Level Inefficiency? South Asian Journal of Macroeconomics and Public Finance, 3(2): 195-220.10.1177/2277978714548634Ouvrir le DOISearch in Google Scholar

David, T., Ginglinger, E. (2016) When cutting dividends is not bad news: The case of optional stock dividends. Journal of Corporate Finance, 40, 174-191.10.1016/j.jcorpfin.2016.07.008Ouvrir le DOISearch in Google Scholar

DeAngelo, H., DeAngelo, L., Stulz, R. M. (2006) Dividend policy and the earned/contributed capital mix: a test of the life-cycle theory. Journal of financial Economics, 81(2): 227-254.10.1016/j.jfineco.2005.07.005Ouvrir le DOISearch in Google Scholar

Dhamala, M., Rangarajan, G., Ding, M. (2008) Estimating Granger causality from Fourier and wavelet transforms of time series data. Physical review letters, 100(1): 018701-018730. doi: https://doi.org/10.1103/PhysRevLett.100.01870110.1103/PhysRevLett.100.018701Ouvrir le DOISearch in Google Scholar

Ehikioya, B. I. (2015) An Empirical Investigation of the Impact of Dividend Policy on the Performance of Firms in Developing Economies: Evidence from Listed Firms in Nigeria. International Journal of Finance and Accounting, 4(5): 245-252.Search in Google Scholar

Farsio, F., Geary, A., Moser, J. (2004) The relationship between dividends and earnings. Journal for Economic Educators, 4(4): 1-5.Search in Google Scholar

Fisher, A. M. (1993) Integer Cantor sets and an order-two ergodic theorem. Ergodic Theory and Dynamical Systems, 13(01): 45-64.10.1017/S0143385700007197Ouvrir le DOISearch in Google Scholar

Flamini, V., Schumacher, M. L., McDonald, M. C. A. (2009) The determinants of commercial bank profitability in Sub-Saharan Africa: International Monetary Fund.10.2139/ssrn.1356442Search in Google Scholar

Goddard, J., McMillan, D. G., Wilson, J. O. (2006) Dividend smoothing vs dividend signalling: evidence from UK firms. Managerial Finance, 32(6): 493-504.10.1108/03074350610666229Ouvrir le DOISearch in Google Scholar

Groen, J., Kleibergen, F. (2003) Likelihood-Based Cointegration Analysis in Panels of Vector Error Correction Models. Journal of Business and Economic Statistics, 21, 295-318. doi: http://dx.doi.org/10.1198/07350010328861897210.1198/073500103288618972Ouvrir le DOISearch in Google Scholar

Gujarati, D. N., Porter, D. C. (2003) Basic Econometrics. 4th. New York: McGraw-Hill.Search in Google Scholar

Gul, E., Ekinci, A. (2006) The causal relationship between the real exchange rate and export and import in Turkey: 1990–2006. Journal of Social Sciences, 16, 165-183.Search in Google Scholar

Gul, S., Sajid, M., Razzaq, N., Afzal, F. (2012) Agency cost, corporate governance and ownership structure (the case of Pakistan) International Journal of Business and Social Science, 3(9): 221-325.Search in Google Scholar

Hamid, R., Yaqub, M. S., Awan, M. M. H. (2016) Antecedents of Dividend Policy: Empirical Evidence from Banking Sector of Pakistan. European Online Journal of Natural and Social Sciences, 5(2): 263-278.Search in Google Scholar

Houston, J. F., Lin, C., Lin, P., Ma, Y. (2010) Creditor rights, information sharing, and bank risk taking. Journal of financial Economics, 96(3): 485-512.10.1016/j.jfineco.2010.02.008Ouvrir le DOISearch in Google Scholar

Hsiao, C. (2014) Analysis of panel data: Cambridge university press.10.1017/CBO9781139839327Search in Google Scholar

Hyndman, R. J., Athanasopoulos, G. (2014) Forecasting: principles and practice: OTexts.Search in Google Scholar

Ibrahim, M. (2016) Dividend Performance in the United Arab Emirates Banking Sector. International Journal of Finance Banking Studies, 5(6): 1.10.20525/ijfbs.v5i6.612Search in Google Scholar

Jiraporn, P., Kim, J. C., Kim, Y. S. (2011) Dividend payouts and corporate governance quality: An empirical investigation. Financial Review, 46(2): 251-279.10.1111/j.1540-6288.2011.00299.xSearch in Google Scholar

Karpavičius, S. (2014) Dividends: Relevance, rigidity, and signaling. Journal of Corporate Finance, 25, 289-312.10.1016/j.jcorpfin.2013.12.014Ouvrir le DOISearch in Google Scholar

M'rabet, R., Boujjat, W. (2016) The Relationship Between Dividend Payments And Firm Performance: A Study Of Listed Companies In Morocco. European scientific journal, 12(4): 469-482.10.19044/esj.2016.v12n4p469Search in Google Scholar

Magret, O. (2016) Capital Base and Operational Efficiency in Nigerian Deposit Money Banks (Evidence from a Two-Way Fixed Effect Approach) Global Journal of Management And Business Research, 16(1): 1-13.Search in Google Scholar

Mahadevan, R., Asafu-Adjaye, J. (2007) Energy consumption, economic growth and prices: A reassessment using panel VECM for developed and developing countries. Energy Policy, 35(4): 2481-2490.10.1016/j.enpol.2006.08.019Ouvrir le DOISearch in Google Scholar

Maldajian, C., El Khoury, R. (2014) Determinants of the dividend policy: an empirical study on the Lebanese listed banks. International Journal of Economics and Finance, 6(4): 240-255.10.5539/ijef.v6n4p240Ouvrir le DOISearch in Google Scholar

Mizuno, M. (2007) Payout Policy of Japanese Firms: Analysis on the Survey of Four Industries Listed on the Tokyo Stock Exchange. Pacific Economic Review, 12(5): 631-650. doi: 10.1111/j.1468-0106.2007.00376.x10.1111/j.1468-0106.2007.00376.xOuvrir le DOISearch in Google Scholar

Mlachila, M., Dykes, D., Zajc, S., Aithnard, P.-H., Beck, T., Ncube, M., Nelvin, O. (2013) Banking in sub-Saharan Africa: Challenges and opportunities: Regional Studies and Roundtables, European Investment Bank (EIB)Search in Google Scholar

Mougoué, M., Rao, R. P. (2003) The information signaling hypothesis of dividends: evidence from cointegration and causality tests. Journal of Business Finance Accounting, 30(3‐4): 441-478.10.1111/1468-5957.t01-1-00004Ouvrir le DOISearch in Google Scholar

Nnadi, M., Wogboroma, N., Kabel, B. (2013) Determinants of dividend policy: Evidence from listed firms in the African stock exchanges. Panoeconomicus, 60(6): 725-741.10.2298/PAN1306725NOuvrir le DOISearch in Google Scholar

Odhiambo, N. M. (2014) Energy Dependence in Developing Countries: Does the Level of Income Matter? Atlantic Economic Journal, 42(1): 65-77. doi: 10.1007/s11293-013-9402-210.1007/s11293-013-9402-2Ouvrir le DOISearch in Google Scholar

Odunga, R., Nyangweso, P., Carter, D., Mwarumba, M. (2013) Credit Risk,“Capital Adequacy and Operating Efficiency Of Commercial Banks in Kenya”. International Journal of Business and Management Invention, 2(9): 6-12.Search in Google Scholar

Omran, M., Pointon, J. (2004) Dividend policy, trading characteristics and share prices: empirical evidence from Egyptian firms. International Journal of Theoretical and Applied Finance, 7(02): 121-133.10.1142/S0219024904002384Search in Google Scholar

Onanjiri, R., Korankye, T. (2014a) Dividend Payout and Performance of Quoted Manufacturing Firms in Ghana. Research Journal of Finance and Accounting, 5(15): 442454.Search in Google Scholar

Onanjiri, R., Korankye, T. (2014b) Dividend Payout and Performance of Quoted Manufacturing Firms in Ghana. Research Journal of Finance and Accounting, 5(15): 442-454.Search in Google Scholar

Ouma, O. P. (2012) The relationship between dividend payout and firm performance: a study of listed companies in Kenya. European scientific journal, 8(9): 199-215.Search in Google Scholar

Rubner, A. (1966) The economics of gambling: London, Macmillan.Search in Google Scholar

Shao, L., Kwok, C. C., Guedhami, O. (2013) Dividend Policy: Balancing Shareholders' and Creditors' interests. Journal of financial Research, 36(1): 43-66.10.1111/j.1475-6803.2013.12002.xOuvrir le DOISearch in Google Scholar

Uddin, G. S., Shahbaz, M., Arouri, M., Teulon, F. (2014) Financial development and poverty reduction nexus: A cointegration and causality analysis in Bangladesh. Economic Modelling, 36, 405-412.10.1016/j.econmod.2013.09.049Search in Google Scholar

Uwuigbe, U., Jafaru, J., Ajayi, A. (2012) Dividend policy and firm performance: A study of listed firms in Nigeria. Accounting and Management Information Systems, 11(3): 442-455.Search in Google Scholar

Waseem, A., Saleh, A., Shukairi, M., Mahmood, N. (2011) The effect of dividend policy stability on the performance of banking sector listed on Amman Stock Exchange. International Journal of Humanities and Social Science, 1, 201-205.Search in Google Scholar

Wolde-Rufael, Y. (2014) Electricity consumption and economic growth in transition countries: A revisit using bootstrap panel Granger causality analysis. Energy Economics, 44, 325-330.10.1016/j.eneco.2014.04.019Ouvrir le DOISearch in Google Scholar

Zhou, P., Ruland, W. (2006) Dividend payout and future earnings growth. Financial Analysts Journal, 62(3): 58-69.10.2469/faj.v62.n3.4157Ouvrir le DOISearch in Google Scholar

Articles recommandés par Trend MD

Planifiez votre conférence à distance avec Sciendo