Abstract
The South Asian Journal of Finance is an international open access and double-blind peer reviewed journal focusing on the areas of finance in South Asian region. It is published bi-annually (June and December).
Highlights
The separation between owners and directors magnified, and the power shifted towards the directors as the listed companies grew and their shareholders became more diverse
Board size, board meetings, board independence, board gender diversity, audit committee meetings, independent directors in remuneration committee, firm size and leverage have no significant impact on the dividend policy
In Sri Lankan context, Kulathunga, Weerasinghe and Jayarathne (2017), have pointed out that only the companies listed under manufacturing sector are considered only the board characteristics of board size, board independence and board meetings have been addressed as the corporate governance variables to show the relationship between the corporate governance and the dividend policy, but not all the characteristics of the corporate governance
Summary
The separation between owners and directors magnified, and the power shifted towards the directors as the listed companies grew and their shareholders became more diverse. There is a dearth of studies within the local context regarding the relationship between corporate governance and the dividend policy of listed companies with the highest market capitalization in Sri Lanka. To bridge the research gap within the Sri Lankan context, this research considers more corporate governance variables such as the board gender diversity, the number of audit committee and remuneration committee meetings, independent directors in audit committee and remuneration committee other than the board characteristics (board size, board independence and board meetings) to achieve the main objective of examining the relationship between the corporate governance and the dividend policy of the companies listed in the Colombo Stock Exchange, which have the highest market capitalization. This study includes the sections of literature review and hypothesis development, methodology, findings, discussion, and conclusion
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