Info: Zenodo’s user support line is staffed on regular business days between Dec 23 and Jan 5. Response times may be slightly longer than normal.

Published June 17, 2022 | Version v1
Journal article Open

OWNERSHIP CONCENTRATION AND DIVIDEND PER SHARE OF DEPOSIT MONEY BANKS IN NIGERIA

Creators

  • 1. Department of Accountancy, Nnamdi Azikiwe University, Awka
  • 2. University of the West of England, Coldharbour Lane, Frenchay, Bristol, BS16 1QY, United Kingdom

Description

Abstract: This study ascertained the extent ownership concentration affect dividend per share of deposit money banks in Nigeria. The Ex-Post Facto research design was adopted for the study. The population of the study consists of the eight international banks quoted on the Nigerian Exchange Group. Data were collected from annual reports and accounts of the sampled banks from 2012 to 2020. Multiple regression analysis was used to test the relationship between the independent variables and the dependent variable with aid of e-view version 9.0 at 95% confidence at five degree of freedom (df). The study concludes that ownership concentration has a positive but insignificant effect on dividend per share of deposit money banks in Nigeria. The study recommended that foreign and bank size presence can help ensure that dividend policy decisions are balanced and avoid expropriation, but since foreign ownership is insignificant, the management should concentrate more on other ownership structure other than foreign ownership in their quest to achieve the payment of dividend to every shareholder.

Keywords: Ownership concentration, Foreign ownership, Bank size and Dividend per share.

Title: OWNERSHIP CONCENTRATION AND DIVIDEND PER SHARE OF DEPOSIT MONEY BANKS IN NIGERIA

Author: Ezejiofor, Raymond A., Fatimehin Kolawole

International Journal of Recent Research in Commerce Economics and Management (IJRRCEM)

ISSN 2349-7807

Vol. 9, Issue 2, April 2022 - June 2022

Page No: 116-125

Paper Publications 

Website: www.paperpublications.org

Published Date: 17-June-2022

DOI: https://doi.org/10.5281/zenodo.6656223

Paper Download Link (Source)

https://www.paperpublications.org/upload/book/OWNERSHIP%20CONCENTRATION-17062022-2.pdf

Notes

International Journal of Recent Research in Commerce Economics and Management (IJRRCEM), ISSN 2349-7807, Paper Publications, Website: www.paperpublications.org

Files

OWNERSHIP CONCENTRATION-17062022-2.pdf

Files (738.0 kB)

Name Size Download all
md5:812454f4d5f0cf1c3349db45b88caf02
738.0 kB Preview Download

Additional details

Related works

Is derived from
Journal article: https://www.paperpublications.org/upload/book/OWNERSHIP%20CONCENTRATION-17062022-2.pdf (URL)
Is published in
Journal article: 2349-7807 (ISSN)

References

  • [1] Adeiza, M. K., Kabiru, I. D., and Muhibudeen, L. (2015). Corporate Shareholding Structure and Dividend Payout Ratio of Listed Chemical and Paints Companies in Nigeria. Journal of Applied Finance and Accounting, 1(2). 47-54
  • [2] Al-Gharaibeh, M., Ziad, Z., and Al-Harahsheh, K., (2013), The effect of ownership structure on dividends policy in Jordanian Companies, Interdisciplinary Journal of Contemporary Researchin Business, 4(9), 769-796
  • [3] Ajadi, T., Bakare, O. U., and Mohammed, O. M. (2018). Ownership structure and dividend policy of listed insurance firms in Nigeria. Fountain University Osogbo Journal of Management (FUOJM), 2018, 3(3), 47 – 58
  • [4] Anton, S.G. (2016). The impact of dividend policy on firm value: A panel data analysis of Romanian listed firms. Journal of Public Administration, Finance and Law, 10, 107-112. https://doi.org/10.18551/rjoas.2018-07.06.
  • [5] Arshad, Z., Akram, Y., Amjad, M., and Usman, M. (2013). Ownership structure and dividend policy. Interdisciplinary Journal of Contemporary Research in Business, 5(3), 378-401.
  • [6] Al-Nawaiseh, M. (2013). Dividend policy and ownership structure: An applied study on industrial companies in Amman Stock Exchange. Journal of Management Research, 5(2), 83-106
  • [7] Aydin, A. D., and Cavdar, S. C. (2015). Corporate governance and dividend policy: An empirical analysis from Borsa Istanbul corporate governance index (XKURY). Accounting and Finance Research, 4(3), 66–76. https://doi. org/10.5430/afr.v4n3P66
  • [8] Bamigboye, O. A. and Akinadewo, I.S. (2020). ownership structure and dividend policy of nigerian deposit money banks (DMBs). International Journal of Management Studies and Social Science Research. 2(5), ISSN: 2582 – 0265.
  • [9] Brealey R.A, and Myers, S.C; Principles of corporate finance. (7th ed.), New York, NY: McGraw- Hill. 2002.
  • [10] Clarke, R.M. (2012). The effect of substantial holdings on capital structure and dividend policy. the University of Western Australia.
  • [11] De Jong, A., De Jong, D.V., Hege, U., and Mertens, G. B. (2013), Leverage: when debt leads to higher dividends. ECGI - Finance Working Paper No. 261/2009. Available from: http://www.ssrn.com/ abstract=1461492. [Last accessed on 2013 Apr 04].
  • [12] De Angelo, H, and Deangelo L. (2005). The Irrelevance of the MM Dividend Irrelevance Theorem. Journal of Financial Economic,; 79:293-315.
  • [13] Earnhart, D., and Lizal, L. (2006), Effects of ownership and financial performance on corporate environmental performance. Journal of Comparative Economics, 34, 111-129.
  • [14] Elijah, A. and Famous, P.I. (2019). ownership structure and dividend policy in Nigerian quoted companies. European Journal of Accounting, Auditing and Finance Research 7(2), .1-16, (www.eajournals.org) 1 Print ISSN: 2053-4086(Print), Online ISSN: 2053-4094(Online)
  • [15] Elston, J.A., Hofler, R., and Lee, J. (2011), Dividend policy and institutional ownership: Empirical Evidence Using a Propensity Score Matching Estimator. Journal of Accounting and Finance, 11, 89-102.

Subjects

Paper Download Link (Source)
https://www.paperpublications.org/upload/book/OWNERSHIP%20CONCENTRATION-17062022-2.pdf