This paper examines the long run and short run link between dividend payout policy and corporate performance of quoted companies in Nigeria over the period 2001–2018. The study employs data of 80 listed companies collected from the audited financial statements of the companies and the publication of Central Bank of Nigeria. Using Pooled Mean Group-Autoregressive Distributed Lag approach, the result shows that dividend policy negatively and statistically influence performance in the short run, while in the long run the effect is positive and significant.

中文翻译：

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股息政策-绩效关系：PMG-ARDL 方法

本文研究了 2001 年至 2018 年间尼日利亚上市公司的股息支付政策与公司业绩之间的长期和短期联系。该研究使用了 80 家上市公司的数据，这些数据是从公司经审计的财务报表和尼日利亚中央银行的出版物中收集的。使用合并平均组-自回归分布式滞后方法，结果表明，股利政策在短期内对绩效产生负面和统计影响，而从长期来看，影响是积极的和显着的。