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Dividend and Share Price Behaviour: A Panacea for Sustainable Industrialization

In: Sustainable Education and Development – Sustainable Industrialization and Innovation

Author

Listed:
  • N. M. Moseri

    (Babcock University)

  • S. I. Owualah

    (Babcock University)

  • P. I. Ogbebor

    (Babcock University)

  • I. R. Akintoye

    (Babcock University
    Redeemer’s University)

  • H. T. Williams

    (Babcock University
    Redeemer’s University)

Abstract

Purpose: We tested agency theory on capital market sustainability and we focused on the extent to which risk-averse investors have used financial resources such as dividend payment and share price to drive sustainable industrialisation and innovation by re-investing dividends received. Design/Methodology/Approach: A diagnostic research design and probability sampling were used. 250 observations were collected on panel data from 50 quoted firms for five years (2017–2021). A quantitative research method called the Cobb-Douglas production model was used to analyse dividend payment, share price and sustainable industrialization and innovation. Findings: The results show investors could use a potential capital market with the available financial resources such as dividends and share price to drive sustainable industrialization and innovation through the reinvestment of dividends. Research Limitation/Implications: The limitation is pinpointed on the assumption that the share price goes up and down. A decline in share prices affects sustainable industrialization and innovation in the capital market. Practical Implication: The financial variables used in this study would inform stakeholders and policy holders that meeting the goals for sustainable development, and financial resources are vital. Social Implication: The macroeconomic variables used in the study implied that financial resources have a linear and long-run relationship with sustainable industrialization and innovation in the capital market. Originality/Value: The novelty of this study lies in the financial instruments used as proxies, it informed policy makers that achieving sustainable industrialization and innovation required financial resources.

Suggested Citation

  • N. M. Moseri & S. I. Owualah & P. I. Ogbebor & I. R. Akintoye & H. T. Williams, 2023. "Dividend and Share Price Behaviour: A Panacea for Sustainable Industrialization," Springer Books, in: Clinton Aigbavboa & Joseph N. Mojekwu & Wellington Didibhuku Thwala & Lawrence Atepor & Emmanuel Adi (ed.), Sustainable Education and Development – Sustainable Industrialization and Innovation, pages 986-992, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-25998-2_76
    DOI: 10.1007/978-3-031-25998-2_76
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