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Corporate Governance Mechanisms and Firms' Dividend Payout Policies: Evidence from Bahrain

机译:公司治理机制和公司的股息支付政策:来自巴林的证据

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摘要

This study aims to examine the impact of corporate governance (CG) mechanisms on the dividend payout policies of Bahraini listed companies. By using multivariate regression model, the results of this study show a significant relationship between the firms' dividend payout ratio and five CG mechanisms (i e. board of directors' meetings, the board of directors' size, number of board of directors' committees, audit committee's meetings and number of independent audit committee members). On the other hand, the relationship between the firm's dividend payout ratio and the remaining two CG mechanisms (i e. audit committee size and independent audit committee chairmen) have been found to be insignificant. The findings of the study will help the shareholders, lenders, and policymakers in Bahrain to develop sound dividend payout policies that will contribute to the increase of the investors' returns, protect the lenders' interest and reduce the agency cost. Also, the study will contribute to the ongoing debate on the impact of CG mechanisms on the firm's dividend payout policies in Bahrain by analyzing the data from the country's stock market.
机译:本研究旨在审查公司治理(CG)机制对Bahraini上市公司股息付款政策的影响。通过使用多元回归模型,本研究的结果显示了公司股息支付比率与五个CG机制之间的重要关系(即董事会会议,董事会规模,董事会委员会数量,审计委员会的会议和独立审计委员会成员的数量)。另一方面,公司的股息支付比率与剩下的两个CG机制之间的关系(I e。审计委员会规模和独立审计委员会主席)是微不足道的。该研究的调查结果将有助于巴林的股东,贷方和政策制定者开发能够为投资者的回报增加,保护贷款人的利息并降低代理费用。此外,该研究将有助于持续辩论关于CG机制通过分析该国股市的数据来对巴林公司的股息薪酬政策的影响。

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