Skip to main content
Future Business Journal

Table 1 Descriptive statistics

From: Dividend policy framework and bank risk-taking in Africa: do women inclusion in governance system offer new insight?

Variables

Obs

Mean

Std. Dev

Min

Max

p1

p99

Z_score

659

13.911

7.234

2.176

47.573

3.071

37.863

Independent women on board

877

.379

.485

0

1

0

1

Women in ministry

517

19.318

10.255

0

54.839

3.3

50

Women in parliament

841

19.421

11.538

1.762

63.75

2.863

61.25

Dividend payout decision

877

0.133

0.34

0

1

0

1

Dividend yield

875

0.416

0.446

− 0.001

1

0

1

Bank concentration

571

70.91

18.691

17.164

100

23.024

100

Overhead cost

651

4.162

4.688

0.001

89.423

.661

13.423

Credit risk

728

4.255

3.409

− 0.212

45.3

.596

19.3

Capital regulation

678

12.37

3.272

5.472

16.3

5.472

16.3

Inflation

844

7.496

13.721

− 9.798

324.997

− 1.409

32.905

Foreign bank entry

877

0.456

.239

0

1.045

0

1

Realgdppc

836

7.268

.578

5.53

9.23

5.958

8.97

Institution

796

− .051

.921

− 2.333

1.96

− 1.719

1.848

  1. Z_score (equals the return on assets plus the capital asset ratio divided by the standard deviation of asset returns) and it is an inverse measure of bank risk-taking; Dividend Policy framework is measured with dividend payout decision and dividend yield. Dividend payout decision is measured as a dummy equal 1 if the ratio of dividend per share to earnings per share is strictly greater than 0 and 0 otherwise. Dividend yield is measured as the ratio of dividend per share to market price per share; Independent women directors on the board is a dummy variable equal to 1, if the board has at least one female, otherwise zero (0); Women in country-level governance position consists of two indicators at the country-level, including women in ministry (measured as the proportion of women in ministerial position) and women in parliament (measured as the proportion of seats held by women in parliament); It is an aggregate index of the dummies of women on the board of the banks in a given country; Bank Concentration is the industry asset concentration of banks, measured as the ratio of asset of the three largest commercial natural logarithm of total bank assets; bank overhead cost (ratio of overhead cost to total asset); Credit Risk is the ratio of nonperforming to gross loan; capital regulation is the ratio of bank regulation capital to risk weighted assets; inflation rate is the inflation rate per year of a country; real GDP per capita (real gross domestic product (GDP) per capita); Institutions is measured as an aggregate of six indicators (rule of law, government effectiveness, control of corruption, political stability, regulatory quality and voice and accountability) from the World Governance Indicators; Data on these control variables were obtained from the World Bank Global Financial Development database
Back to article page