期刊名称：Asian Journal of Business and Management Sciences
电子版ISSN：2047-2528
出版年度：2012
卷号：2
期号：01
页码：29-59
出版社：Society for Business Research Promotion
摘要：The study employs cointegration mechanism to investigate the nature of the long-run relationship that exists between dividend per share and leverage in Nigeria for a period of twenty-six years (ranging from 1984 to 2010). Data were collected from the NSE Factbooks for the specified periods and analysed using Johansen and Juselius cointegration technique. Also, the Granger causality test was employed. The findings show that there is an inverse long-run unidirectional relationship between leverage and dividend. On individual basis, the ECM indicates that if there is any short-run disequilibrium or distortion, dividend per share (DPS), size(SZ), retention per share(RPS), earnings per share(EPS) and leverage per share(LEV), will be restored at a speed of about 56%, 3%, 8%, 2% and 4% respectively per annum to the long-run equilibrium situation. Full Text
