Corporate governance and dividend policy in Colombia

Samuel Mongrut; Julian Usma; Carlos Ramírez

Resumen

The study measures the impact of the adoption of the Corporate Governance Code (CGC) on the dividend payout ratio for non-financial firms listed in the National Registry for Securities and Issuers (RNVE) of the Colombian Stock Exchange (CSE). Through the application of a non-balanced panel data model on a sample of 279 companies, from 2004 to 2015, it has been found that those companies that adopted the CGC have paid, on average, higher dividends than those that did not. In addition, the impact of the adoption of the CGCC is amplified by its quality, meaning that better Corporate Governance practices lead to even higher dividend payout. Likewise, companies with a CGC do not only pay higher dividends but also show better margins of profitability and higher returns.

Idioma original	Inglés
Estado	Publicada - 2017
Evento	World Finance Conference - Italia Duración: 1 jul. 2017 → 1 jul. 2017

Conferencia

Conferencia	World Finance Conference
Período	1/07/17 → 1/07/17

ODS de las Naciones Unidas

Este resultado contribuye a los siguientes Objetivos de Desarrollo Sostenible

ODS 8: Trabajo decente y crecimiento económico
ODS 16: Paz, justicia e instituciones sólidas
ODS 17: Alianzas para lograr los objetivos

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https://www.world-finance-conference.com/site/files/eb8d718e0beae39e340fd4c1f17d5cf1.pdf

1 Contribución a una conferencia
1 Artículo de revista

Corporate governance and dividend policy: Evidence from Colombia
Título traducido de la contribución: Gobierno corporativo y política de dividendos: Evidencia de ColombiaMontalvan, S. M., Ramirez Arango, C. M. & Usma Patiño, J., 30 set. 2023, En: Revista Mexicana de Economia y Finanzas Nueva Epoca. 18, 4, 19 p., e917.
Producción científica: Contribución a una revista › Artículo de revista › revisión exhaustiva

Acceso abierto
1 Cita (Scopus)
Corporate governance and dividend policy: A previous evidence from Colombia
Mongrut Montalván, S. A., 2019. 24 p.
Producción científica: Contribución a una conferencia › revisión exhaustiva

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Citar esto

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title = "Corporate governance and dividend policy in Colombia",

abstract = "The study measures the impact of the adoption of the Corporate Governance Code (CGC) on the dividend payout ratio for non-financial firms listed in the National Registry for Securities and Issuers (RNVE) of the Colombian Stock Exchange (CSE). Through the application of a non-balanced panel data model on a sample of 279 companies, from 2004 to 2015, it has been found that those companies that adopted the CGC have paid, on average, higher dividends than those that did not. In addition, the impact of the adoption of the CGCC is amplified by its quality, meaning that better Corporate Governance practices lead to even higher dividend payout. Likewise, companies with a CGC do not only pay higher dividends but also show better margins of profitability and higher returns.",

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T1 - Corporate governance and dividend policy in Colombia

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AU - Usma, Julian

AU - Ramírez, Carlos

PY - 2017

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AB - The study measures the impact of the adoption of the Corporate Governance Code (CGC) on the dividend payout ratio for non-financial firms listed in the National Registry for Securities and Issuers (RNVE) of the Colombian Stock Exchange (CSE). Through the application of a non-balanced panel data model on a sample of 279 companies, from 2004 to 2015, it has been found that those companies that adopted the CGC have paid, on average, higher dividends than those that did not. In addition, the impact of the adoption of the CGCC is amplified by its quality, meaning that better Corporate Governance practices lead to even higher dividend payout. Likewise, companies with a CGC do not only pay higher dividends but also show better margins of profitability and higher returns.

M3 - Abstract

T2 - World Finance Conference

Y2 - 1 July 2017 through 1 July 2017

ER -

Corporate governance and dividend policy in Colombia

Resumen

Conferencia

ODS de las Naciones Unidas

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Producción científica

Corporate governance and dividend policy: Evidence from Colombia

Corporate governance and dividend policy: A previous evidence from Colombia

Citar esto