Characteristics of the Board of Directors and Dividend Policy: A Case Study of Banks in Western Balkans-Reference-Cited by-同舟云学术

Characteristics of the Board of Directors and Dividend Policy: A Case Study of Banks in Western Balkans

Published:2023-03-01 Issue:1 Volume:69 Page:10-18
ISSN:2385-8052
Container-title:Naše gospodarstvo/Our economy
language:en
Short-container-title:

Author:

Milašinović Marko¹,Radojević Aleksandra²,Jovković Biljana²

Affiliation:

1. a University of Kragujevac , Faculty of Hotel Management and Tourism Vrnjačka Banja , Vojvođanska 5a , Vrnjačka Banja , Serbia

2. b University of Kragujevac , Faculty of Economics , Liceja Kneževine Srbije 3 , Kragujevac , Serbia

Abstract

Abstract This paper examines the influence of the size and participation of women in the board of directors on the dividend policy of banks in Western Balkans. The research covered 104 banks, observing their dividend policy from 2017 to 2019. The dividend payout ratio was measured by the dividend policy. A relatively small number of banks paid dividends during the observation period. By applying the Fixed-Effect model, it was determined that the size of the board of directors has a statistically significant positive impact on the dividend policy of observed banks. Concerning the participation of women on the board of directors, a statistically significant impact on the dividend policy of banks was not identified. In addition to contributing to the existing literature on corporate finances, the research results can be crucial to investors when deciding to invest funds in bank stocks.

Publisher

Walter de Gruyter GmbH

Subject

Industrial and Manufacturing Engineering,General Agricultural and Biological Sciences,General Business, Management and Accounting,Materials Science (miscellaneous),Business and International Management

Link

https://www.sciendo.com/pdf/10.2478/ngoe-2023-0002

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