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Title: :  THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE
PaperId: :  12261
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 6 Issue 4 2020
DUI:    16.0415/IJARIIE-12261
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Author NameAuthor Institute
Oscar Opoku AgyemangUniversity of Cape Coast
Dominic Ofori AmankwahUniversity of Cape Coast

Abstract

business, Accounting
Dividend payout, Ghana Stock Exchange, Return on Equity
This study was to examine the impact of relationship between dividends policy and financial performance of listed banking and non-banking industries in Ghana. The research used secondary data obtained from the audited financial statements. To achieve this objective, data from 10 listed banks and non-banks were analysed for the period of seven years (2012-2018). E-views version 9 was used to estimate the regression results. The study revealed that dividend payout had no effect on the financial performance of listed banks and non-banking firms in Ghana. Thus amount of dividends paid does not affect the financial performance of firms but should pay dividends when they are financially strong. Also, findings of the study confirmed that dividend policy is a major factor that influence the financial performance of listed banks and non-banking firms. It was observed that dividend policy was highly significant predictor in explaining the firms’ performance (ROE). Other factors such as firm size, leverage and growth had insignificant impact on the return of equity of listed firms (banks and non-banking). Hence firms should ensure that they have good and effective strategies that will lead to increased total asset and other factors that will result to improved financial performance of banks and non-banking firms in the future. It is therefore, recommended that Banks and non-banking firms should invest in profitable assets that will yield higher returns in the future to enhance their financial performance and attract investments in the future. Moreover, the research findings revealed that there was no weighty impact of dividend payout on the financial performance and hence, investors should not rely on the amount of dividends paid to ascertain the financial stability of the firms.

Citations

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IJARIIE Oscar Opoku Agyemang, and Dominic Ofori Amankwah. "THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE" International Journal Of Advance Research And Innovative Ideas In Education Volume 6 Issue 4 2020 Page 378-397
MLA Oscar Opoku Agyemang, and Dominic Ofori Amankwah. "THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE." International Journal Of Advance Research And Innovative Ideas In Education 6.4(2020) : 378-397.
APA Oscar Opoku Agyemang, & Dominic Ofori Amankwah. (2020). THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE. International Journal Of Advance Research And Innovative Ideas In Education, 6(4), 378-397.
Chicago Oscar Opoku Agyemang, and Dominic Ofori Amankwah. "THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE." International Journal Of Advance Research And Innovative Ideas In Education 6, no. 4 (2020) : 378-397.
Oxford Oscar Opoku Agyemang, and Dominic Ofori Amankwah. 'THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE', International Journal Of Advance Research And Innovative Ideas In Education, vol. 6, no. 4, 2020, p. 378-397. Available from IJARIIE, http://ijariie.com/AdminUploadPdf/THE_RELATIONSHIP_BETWEEN_POLICY_DIVIDENDS_AND_FIRMS’_PERFORMANCE_ON_GHANA_STOCK_EXCHANGE_ijariie12261_converted.pdf (Accessed : 27 October 2022).
Harvard Oscar Opoku Agyemang, and Dominic Ofori Amankwah. (2020) 'THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE', International Journal Of Advance Research And Innovative Ideas In Education, 6(4), pp. 378-397IJARIIE [Online]. Available at: http://ijariie.com/AdminUploadPdf/THE_RELATIONSHIP_BETWEEN_POLICY_DIVIDENDS_AND_FIRMS’_PERFORMANCE_ON_GHANA_STOCK_EXCHANGE_ijariie12261_converted.pdf (Accessed : 27 October 2022)
IEEE Oscar Opoku Agyemang, and Dominic Ofori Amankwah, "THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE," International Journal Of Advance Research And Innovative Ideas In Education, vol. 6, no. 4, pp. 378-397, Jul-Aug 2020. [Online]. Available: http://ijariie.com/AdminUploadPdf/THE_RELATIONSHIP_BETWEEN_POLICY_DIVIDENDS_AND_FIRMS’_PERFORMANCE_ON_GHANA_STOCK_EXCHANGE_ijariie12261_converted.pdf [Accessed : 27 October 2022].
Turabian Oscar Opoku Agyemang, and Dominic Ofori Amankwah. "THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 6 number 4 (27 October 2022).
Vancouver Oscar Opoku Agyemang, and Dominic Ofori Amankwah. THE RELATIONSHIP BETWEEN POLICY DIVIDENDS AND FIRMS’ PERFORMANCE ON GHANA STOCK EXCHANGE. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2020 [Cited : 27 October 2022]; 6(4) : 378-397. Available from: http://ijariie.com/AdminUploadPdf/THE_RELATIONSHIP_BETWEEN_POLICY_DIVIDENDS_AND_FIRMS’_PERFORMANCE_ON_GHANA_STOCK_EXCHANGE_ijariie12261_converted.pdf
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