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dc.contributor.authorElmagrhi, M.H.en
dc.contributor.authorNtim, Collins G.en
dc.contributor.authorFosu, Samuelen
dc.contributor.authorCrossley, R.M.en
dc.contributor.authorVu, T.V.en
dc.date.accessioned2018-10-17T09:53:34Z
dc.date.available2018-10-17T09:53:34Z
dc.date.issued2017-10-07
dc.identifier.citationElmagrhi, M.H., Ntim, C.G., Crossley, R.M., Malagila, J.K., Fosu, S. and Vu, T.V. (2017) Corporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristics. International Journal of Accounting & Information Management, 25(4), pp.459-483.en
dc.identifier.issn1834-7649
dc.identifier.urihttps://www.emeraldinsight.com/doi/abs/10.1108/IJAIM-02-2017-0020
dc.identifier.urihttp://pure-oai.bham.ac.uk/ws/files/40468977/Accepted_Version_IJAIM_March_2017.pdf
dc.identifier.urihttp://hdl.handle.net/2086/16745
dc.descriptionThe file attached to this record is the author's final peer reviewed version. The Publisher's final version can be found by following the DOI link.en
dc.description.abstractPurpose: This paper examines the extent to which corporate board characteristics influence the level of dividend pay-out ratio using a sample of UK small and medium-sized enterprises (SMEs) from 2010 to 2013 listed on the Alternative Investment Market. Design/methodology/approach: The data is analysed by employing multivariate regression techniques, including estimating fixed effects, lagged effects and two-stage least squares regressions. Findings: The results show that board size, the frequency of board meetings, board gender diversity and audit committee size have a significant relationship with the level of dividend pay-out. Audit committee size and board size have a positive association with the level of dividend pay-out, whilst the frequency of board meetings and board gender diversity has a significant negative relationship with the level of dividend pay-out. By contrast, the findings suggest that board independence and CEO role duality do not have any significant effect on the level of dividend pay-out. Originality/value: This is one of the first attempts at examining the relationship between corporate governance and dividend policy in the UK’s Alternative Investment Market, with the analysis distinctively informed by agency theoretical insights drawn from the outcome and substitution hypotheses.en
dc.language.isoenen
dc.publisherEmerald Publishing Limiteden
dc.subjectcorporate governanceen
dc.subjectcorporate board characteristicsen
dc.subjectdividend pay-out policyen
dc.subjectUK listed SMEsen
dc.subjectoutcome versus substitution hypothesisen
dc.titleCorporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristicsen
dc.typeArticleen
dc.identifier.doihttps://doi.org/10.1108/ijaim-02-2017-0020
dc.peerreviewedYesen
dc.funderN/Aen
dc.projectidN/Aen
dc.cclicenceCC-BY-NCen
dc.date.acceptance2017-03-21en
dc.exception.reasonauthor was not DMU staff at time of publication. available from B'ham Uni repositoryen
dc.researchinstituteFinance and Banking Research Group (FiBRe)en
dc.exception.ref2021codes254aen


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