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ADHERENCE TO THE 1999 BLUE RIBBON COMMITTEE GUIDELINES AND DIVIDEND PAYOUT POLICY: EVIDENCE FROM KUWAIT

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Date
2014-03
Author
Al-Rashed, W.
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2014 - Volume 17 - Issue 1
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Abstract
The objective of this research is to e􀁛amine the adherence to the 􀀔􀀜􀀜􀀜 Blue 􀀵Ribbon Committee 􀀋B􀀵C􀀌 recommendations and its impact on corporate dividends policy in 􀀮Kuwait. These recommendations are deemed guidelines for improving the effectiveness of audit committees of shareholding 􀂿firms. Both descriptive as 􀁚ell as analytical methods have been used to test for such effectiveness. A􀀤short 􀁔questionnaire 􀁚as distributed to 􀀙􀀖 listed 􀂿firms in 􀀮Kuwait as 􀁚well as examining published 􀂿financial data of Kuwait firms 􀁚with respect to dividend policies during 􀀕􀀓􀀓􀀚􀀐􀀕􀀓􀀔􀀕. 􀀵Results of the multiple regressions and sensitivity analysis indicated that there is no significant evidence on compliance 􀁚with BRC guidelines 􀁚hen setting dividend policies by 􀀮Kuwaiti firms, thus hardly any effect audit committees have on such policies.
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http://hdl.handle.net/10576/3574