Investigation of the critical sources of investment finance in Nigeria: a factor analytical approach

Okpara, Godwin Chigozie

doi:10.5251/ajsir.2010.1.2.309.313

Cited by 4 publications

(4 citation statements)

References 3 publications

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“…Financial institutions must pool savings and direct them through viable investment if growth must take place. Private sector credit and retention of earnings are very significant in the finance of business concern (Okpara, 2010). Therefore a farmer need to have access to credit and retain some of its earning to enhahce growth of his farm holdings.…”

Section: Methodsmentioning

confidence: 99%

Investment in Cocoa Planting and Rehabilitation by Cocoa Farmers in Nigeria

Segun

2016

Asian Journal of Economics and Empirical Research

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The paper examined investment in cocoa planting and replanting by cocoa farmers in Nigeria. The study sample comprised of 400 cocoa farmers selected from five major cocoa producing states in Nigeria of which 321 farmers responded. Questionnaire technique supplemented by oral interview was used for the study. The data were analysed using multiple regression, Likert rating and percentages. The results show that few cocoa farmers invested in new planting and replanting programme. There is no positive relationship between percentage of annual income invested in new planting and replanting by the cocoa farmers and the number of hectares of farm holding while age of farmers , years of experience as a cocoa farmer and average annual income show marginal positive relationship, however, farmers education has very high positive relationship with a coefficient of 0.935. The result also shows that the independent variables (farmer annual income, number of hectares owned by the farmers, age of the farmers, education and experience of the farmers) have marginal impact on the dependent variable with coefficient of variation of 0.033. The study concluded that cocoa farmers did not invest adequately in new planting and replanting because of lack of capital and non ploughing lack of capital and low ploughing back of kincome due to low income and social needs.

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Section: Methodsmentioning

confidence: 99%

Investment in Cocoa Planting and Rehabilitation by Cocoa Farmers in Nigeria

Segun

2016

Asian Journal of Economics and Empirical Research

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“…Companies mainly consider liquidity positions when making dividend decisions (Alshammari, 2012;Deshmukh, Goel, & Howe, 2013;Islam & Adnan, 2019;Khan & Ahmad, 2017). Okpara and Godwin (2010) also found a significant optimistic relationship between liquidity and DPP.…”

Section: Liquiditymentioning

confidence: 98%

“…Return on Equity (ROE) is adopted by Le et al (2019) as a proxy for a firm's profitability measures. The variable Liquidity (Leq) has been taken from Okpara and Godwin (2010); Leverage (Lev) from Alzomaia (2013); Firm Size (FS) from Fama and French (2001); Dividend Payout Ratio of Previous Year (PDPR) from Fitri et al (2016); Corporate Tax Ratio (CTR) from Rehman and Takumi (2012) and Capital Adequacy Ratio (CAR) from Yesyurun (2021). The…”

Section: Research Instrumentsmentioning

confidence: 99%

Determinants of the dividend payout policy of multinational companies in Bangladesh: Evidence from Dhaka stock exchange

Hossain,

Khalifa,

Ahmmed

2023

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This study tries to establish the important factors influencing the dividend payout policy of the Multinational Companies (MNCs) in Bangladesh in order to assist investors in making the best possible investment decisions. Data for this study was collected from several MNCs listed on the DSE from 2015 to 2021. The relationship between the dependent variable, Dividend Payout Ratio (DPR) and selected independent variables such as Return on Equity (ROE), Liquidity Ratio (LEQR), Leverage Ratio (LEVR), Firm Size (FS), Dividend Payout Ratio of Previous Year (PDPR), Corporate Tax Ratio (CTR) and Capital Adequacy Ratio (CAR) is evaluated using Pearson's correlation and Ordinary Least Squares (OLS) regression models for data analysis and hypothesis testing. The regression analysis results showed a mixed result. The ROE and CTR are significantly related to DPR. Higher ROE and CTR emphasis a higher dividend for stock holders. The FS is significantly negatively related to DPR. Due to the costs associated with paying for the profits of substantial assets, large firms pay lower dividends. Other variables such as LEQR, LEVR, PDPR, CTR and CAR have no significant impact on the DPR. The investors and the concerned authorities can consider ROE, CTR and FS to forecast the future dividend for the MNCs in Bangladesh.

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“…They also concluded that more profitable firms pay larger dividends. Additionally, Okpara (2010) observed that earnings, current ratio (liquidity) and previous years dividends exerts a positive influence on the dividend pay-out ratio in Nigeria's firms.…”

Section: Introductionmentioning

confidence: 97%

Determinants of Dividend Payout Policy in Public LTD Banks in Kenya: A Case Study of CFC Stanbic Bank

Odawo

2015

strategicjournals.com

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Dividend policy has been analyzed for many decades, but no universally accepted explanation for companies observed dividend behavior has been established. Many theories and models have been put forth to examine the numerous facets of dividend study. This study sought to establish the determinants of dividend payout policy in public limited banks by examining the effect of liquidity, profitability, firm size and leverage on dividend payout. The study adopted a descriptive research design. The target population of the study was CFC Stanbic Bank where secondary data was for a period of eleven years (2003)(2004)(2005)(2006)(2007)(2008)(2009)(2010)(2011)(2012)(2013). The data was analyzed qualitatively as well as quantitatively using both descriptive statistics and inferential statistics. The results showed that there liquidity was negatively (β = -1.0094) and significantly (p-value = 0.041) related to dividend payout while profitability was positively (β = 0.723) and significantly related (p-value = 0.018) to dividend payout. The results further indicated that firm size is positive (β = 0.794) and significantly (p-value = 0.034) related with the dividend payout. Finally, it was also inferred that leverage had a positive (β = 1.751) and significant (p-value = 0.004) relationship with the dividend payout. From the study findings it was recommended that; first, companies should maintain an optimal level of market liquidity as market liquidity has a negative influence on dividend payout. Secondly, since profitability has a positive and significant influence on dividend payout then companies should strive to engage in profitable ventures so as to be in a position to pay dividends to the shareholders. Lastly, the study recommends that leverage (debt/equity ratio) should be held at an optimal level so that the firm is in a position to pay its shareholders dividends, which is a return for their investments.

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Investigation of the critical sources of investment finance in Nigeria: a factor analytical approach

Cited by 4 publications

References 3 publications

Investment in Cocoa Planting and Rehabilitation by Cocoa Farmers in Nigeria

Investment in Cocoa Planting and Rehabilitation by Cocoa Farmers in Nigeria

Determinants of the dividend payout policy of multinational companies in Bangladesh: Evidence from Dhaka stock exchange

Determinants of Dividend Payout Policy in Public LTD Banks in Kenya: A Case Study of CFC Stanbic Bank

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