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The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange.
A Thesis Submitted To The Department Of Accounting And Finance In Partial Fulfilment Of The Requirements For The Degree Of Master In Business Administration (Accounting)
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| Format: | Thesis |
| Language: | English |
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KNUST
2025
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| _version_ | 1867613134051606528 |
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| access_status_str | Open Access |
| author | ANANE, ESTHER |
| author_browse | ANANE, ESTHER |
| author_facet | ANANE, ESTHER |
| author_sort | ANANE, ESTHER |
| collection | Thesis |
| description | A Thesis Submitted To The Department Of Accounting And Finance In Partial Fulfilment Of The Requirements For The Degree Of Master In Business Administration (Accounting) |
| format | Thesis |
| id | oai:ir.knust.edu.gh:123456789/16265 |
| institution | KNUST (Ghana) |
| language | English |
| last_indexed | 2026-06-10T12:31:18.486Z |
| license_str | Not specified — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from KNUSTSpace — Kwame Nkrumah University of Science & Technology (Ghana) |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | KNUST |
| publisherStr | KNUST |
| record_format | dspace |
| source_str | KNUSTSpace — Kwame Nkrumah University of Science & Technology (Ghana) |
| spelling | oai:ir.knust.edu.gh:123456789/16265 The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. ANANE, ESTHER A Thesis Submitted To The Department Of Accounting And Finance In Partial Fulfilment Of The Requirements For The Degree Of Master In Business Administration (Accounting) Dividend payment is one of the main factors that drive shareholders to invest capital in business. This study seeks to find the determinants of dividend policy of listed companies on Ghana. To achieve this objective Panel data covering 2013/2014 financial year for 20 listed companies on Ghana Stock Exchange were sampled. The study adopted a quantitative method and used mainly secondary data. The study analyses a range of determinants of dividend payout: firm leverage (LEV), Liquidity (LIQ), firm size (SIZE) profitability (PROF), Taxation (TAX), Growth and Tangibility (TANG). Ordinary Least Square Regression analysis is carried out to assess the main effect of the determinants of the dividend payout. Firm leverage (LEV), Liquidity (LIQ), firm size (SIZE) profitability (PROF), Taxation (TAX), Growth and Tangibility (TANG) can predict about 40% of dividend payout. The regression results also reveal that, firm’s growth, firm’s profitability, liquidity and corporate tax associate positively with dividend payment. The descriptive statistics indicates that, on average of about 75% of the listed firms on GSE have a policy to pay dividend with average dividend pay ratio been 28%. The study provides evidence that profitability, liquidity and growth are the most important factors that affect dividend policy of companies in Ghana. So, companies should give consideration to profitability, liquidity and growth when they set dividend policy KNUST 2025-02-14T15:47:34Z 2025-02-14T15:47:34Z 2016-08 Thesis https://ir.knust.edu.gh/handle/123456789/16265 en application/pdf KNUST |
| spellingShingle | ANANE, ESTHER The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title | The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title_full | The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title_fullStr | The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title_full_unstemmed | The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title_short | The determinants of dividend policy in Ghana: evidence from the Ghana stock exchange. |
| title_sort | determinants of dividend policy in ghana evidence from the ghana stock exchange |
| url | https://ir.knust.edu.gh/handle/123456789/16265 |
| work_keys_str_mv | AT ananeesther thedeterminantsofdividendpolicyinghanaevidencefromtheghanastockexchange AT ananeesther determinantsofdividendpolicyinghanaevidencefromtheghanastockexchange |