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Roles of Corporate Governance and Ownership Structure in Dividend Smoothing Behavior of Asian Firms |
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| รหัสดีโอไอ | |
| Creator | Shakeel Ahmed, Zulfiqar Ali Shah, Arshad Ali Bhatti |
| Title | Roles of Corporate Governance and Ownership Structure in Dividend Smoothing Behavior of Asian Firms |
| Contributor | - |
| Publisher | TuEngr Group |
| Publication Year | 2563 |
| Journal Title | International Transaction Journal of Engineering, Management, & Applied Sciences & Technologies |
| Journal Vol. | 11 |
| Journal No. | 13 |
| Page no. | 11A13T: 1-12 |
| Keyword | Dividend smoothing, Corporate governance, Ownership structure, Fixed effects method, Random effects method, Family-owned business, Board gender diversity, Board independence. |
| URL Website | http://TuEngr.com/Vol11_13.html |
| Website title | ITJEMAST V11(13) 2020 @ TuEngr.com |
| ISSN | 2228-9860 |
| Abstract | The study explores the determinants of dividend smoothing behavior of Asian firms for 2009-2018. The study used a firm's specific characteristics, corporate governance, and ownership structure variables as determinants of dividend smoothing in some Asian markets (Pakistan, India, Sri Lanka, Malaysia, and Singapore). Based on gender critical mass theory, the study finds the presence of gender-critical mass is positive and significantly associated with firm dividend smoothing behavior; whereas, the presence of fewer women depicts a negative or insignificant association with dividend smoothing behavior. The moderating role of gender diversity between family ownership and dividend smoothing is also examined. Further, contrary to the agency theory-based explanations of dividend smoothing, we find that family firms follow a smooth dividend policy. These findings suggest that gender-critical mass, family ownership, and higher market to book value contribute positively to dividend smoothing behavior in the Asian market. |
