This study examines the role of women included in governance system in explaining the impact of dividend policy framework on the risk-taking of banks, using a panel dataset of 52 African countries over the period, 2006-2020. The empirical outcome confirms that independent women on the board has...

The paper investigates the role of board dynamics in explaining the effect of payout policy on shareholders' wealth creation at the market and bank levels. The study employs the 2SLS estimation of a panel dataset of 528 banks from 29 African countries from the year 2006 to 2018. The study finds...