Moderating role of ownership concentration on top management attributes and dividend policy

Top management attributes play a very important role in shaping corporate financial policies. Numerous corporate finance literature works have endorsed the impact of top management in making firms’ financial decisions. Considering their importance in the corporate world, the current study intends to comprehensively determine whether top management characteristics affect financial policy. Finally, the study examines the moderating effect of ownership concentration on financial policy. Also, agency issues may occur as a result of a dispute among majority and minority shareholders when there is a significant level of concentrated ownership. Resolving these issues can boost a company’s efficiency and assist in maximising its worth. Thus, ownership concentration also has a significant impact on financial policy decisions. The study focuses on corporate financial policies, specifically dividend policies .This study will therefore aim to accomplish the proposed research gap.

Keywords: Ownership Concentration, top management attribute, and dividend policy