The Impact Of Debt, Profitability And Liquidity On Dividend Policy Decisions Of Quoted Firms In Ghana

Abstract

The main of this research was to determine the relationship between the debt of firms listed on the GSE and the dividend policy decisions of those firms from the period 2011-2020. A total of twenty –two non-financial firms were examined for the study. A regression analysis was conducted on the panel data using the Ibrahim and Sare empirical study. Other variables such as investment, liquidity, inflation and government effectiveness were examined. The findings of the research concluded that debt has a robust significant negative relationship with the dividend policy of firms on GSE. While profitability and liquidity had a positive relationship with dividend payout ratio, inflation had no significant relationship with dividend policy.