IDEAS home Printed from https://ideas.repec.org/a/fru/finjrn/250208p122-136.html
   My bibliography  Save this article

The Relationship between Corporate Governance Quality and Dividend Payments of Russian Stock Market Companies: A Quality Index Approach

Author

Listed:
  • Polina O. Shchukina

    (Lomonosov Moscow State University, Moscow, Russian Federation)

  • Petr A. Lavrinenko

    (Financial Research Institute, Moscow, Russian Federation; Institute of Economic Forecasting, Russian Academy of Sciences, Moscow, Russian Federation)

  • Ashot G. Mirzoyan

    (Lomonosov Moscow State University, Moscow, Russian Federation)

  • Anastasia A. Galich

    (Lomonosov Moscow State University, Moscow, Russian Federation)

Abstract

The article analyzes the relationship between the quality of corporate governance and the size of dividend payments. The purpose is to assess the relationship between the degree of compliance with the recommendations of the Bank of Russia on corporate governance and the size of dividend payments of companies on the Russian stock market. The novelty of this work lies in the use of an index that allows to assess the quality of corporate governance in Russian companies based on the degree of compliance with the requirements of seven sections of the Bank of Russia Corporate Governance Code. When analyzing a sample of 28 public companies on the Russian stock market for the period from 2010 to 2022 using fixed-effects regression models, a positive relationship between the degree of compliance with the recommendations of the Bank of Russia and dividend payments was found. This is consistent with the outcome model: the higher the quality of corporate governance, the higher the level of dividend payments.

Suggested Citation

  • Polina O. Shchukina & Petr A. Lavrinenko & Ashot G. Mirzoyan & Anastasia A. Galich, 2025. "The Relationship between Corporate Governance Quality and Dividend Payments of Russian Stock Market Companies: A Quality Index Approach," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 122-136, April.
    • Handle: RePEc:fru:finjrn:250208:p:122-136
    DOI: 10.31107/2075-1990-2025-2-122-136
    as

    Download full text from publisher

    File URL: https://www.finjournal-nifi.ru/images/FILES/Journal/Archive/2025/2/statii/09_2_2025_v17.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.31107/2075-1990-2025-2-122-136?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    corporate governance; corporate governance code; dividend payments; dividend yield; company; result model;
    All these keywords.

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G35 - Financial Economics - - Corporate Finance and Governance - - - Payout Policy

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fru:finjrn:250208:p:122-136. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gennady Ageev (email available below). General contact details of provider: https://edirc.repec.org/data/frigvru.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.