Dividend policy-performance nexus: PMG-ARDL approach

Olayinka Olufisayo Akinlo () and John Ayobamibo Olayiwola ()
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Olayinka Olufisayo Akinlo: Obafemi Awolowo University
John Ayobamibo Olayiwola: Obafemi Awolowo University

Future Business Journal, 2021, vol. 7, issue 1, 1-9

Abstract: Abstract This paper examines the long run and short run link between dividend payout policy and corporate performance of quoted companies in Nigeria over the period 2001–2018. The study employs data of 80 listed companies collected from the audited financial statements of the companies and the publication of Central Bank of Nigeria. Using Pooled Mean Group-Autoregressive Distributed Lag approach, the result shows that dividend policy negatively and statistically influence performance in the short run, while in the long run the effect is positive and significant.

Keywords: Dividend policy; Corporate performance response; PMG-ARDL; Temporary and permanent shocks; Nigeria (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1186/s43093-021-00066-9

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