期刊名称：International Journal of Economics and Finance
印刷版ISSN：1916-971X
电子版ISSN：1916-9728
出版年度：2010
卷号：2
期号：4
页码：212
DOI：10.5539/ijef.v2n4p212
出版社：Canadian Center of Science and Education
摘要：The study investigated the relationship between asymmetric information and dividend policy in Nigeria. To carryout the research work, the researcher employed the unit root test using the augmented Dickey Fuller test, the Johanson cointegration test and then vector error correction model to ascertain the long-run relationship between the variables. Granger causality test was also used. The researcher found supportive evidence for the dividend signaling theory. Thus, there is a positive and significant relationship between dividend policy and asymmetric information. The Granger causality tests at lag 2 suggested that dividend policy has causal impact on information asymmetry without a reverse or feedback effect. That is dividend policy drives or granger causes information asymmetry.
