AUDIT COMMITTEE ATTRIBUTES AND DIVIDEND POLICY OF LISTED INSURANCE COMPANIES IN NIGERIA
Abstract
ABSTRACT
This study examined the effect of audit committee attributes on the dividend policy of listed insurance companies in Nigeria for the period 2018–2024. Secondary data were collected from the annual reports and accounts of 13 listed Insurance Companies. Descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression were employed to analyse the data generated. The results obtained revealed that audit committee independence and meeting frequency have a significant positive effect on dividend policy, while audit committee expertise and size exert positive but insignificant effects. Among the control variables, firm size and profitability significantly and positively influence dividend policy, whereas leverage has a significant negative effect. The study concludes that effective audit committee characteristics, particularly independence and regular meetings, enhance transparency and promote consistent dividend payments among Nigerian listed Insurance Firms. It recommends that regulators and company boards strengthen audit committee independence, encourage frequent meetings, and appoint financially competent members to ensure effective governance and sustainable dividend policies.
Keywords: Audit Committee, Audit Committee characteristics, Dividend Policy, Listed Insurance Compan
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