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The Dividend Policy and Managerial Risk in Banks : Focusing on the Moderating Role of Capital Adequacy in Korea
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- 발행기관
- 한국재무학회 바로가기
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- 간행물
- 재무연구 KCI 등재 SCOPUS 바로가기
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- 통권
- 제39권 제1호 (2026.02)바로가기
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- 페이지
- pp.97-123
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- 저자
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- 언어
- 영어(ENG)
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- URL
- https://www.earticle.net/Article/A480504
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6,600원
원문정보
초록
- 영어
- This study empirically examines the relationship between dividend policy and management risk in Korean banks from 1999 to 2024, using fixed-effects panel regression analysis. Z-Score and standard deviation of ROE served as a proxy for bank management risk, with the study analyzing the effects of dividend payout ratio, BIS capital ratio, and their interaction on Z-Score and standard deviation of ROE. As a result, first, depending on bank characteristics, the dividend payout ratio may increase management risk or have no effect, but capital regulations can reduce this risk in banks where it increases. Second, non-linearity was found for the dividend payout ratio, also the BIS ratio exhibited non-linearity, suggesting an optimal BIS ratio can minimize management risk and promote bank stabilization. Third, for banks with lower capital adequacy (bottom 50% BIS), increasing dividends significantly amplified management risk, indicating a need for strict dividend restrictions linked to the BIS ratio for these banks. In conclusion, while a bank's dividend policy can elevate management risk, this can be mitigated through appropriate capital regulations. Financial authorities can preemptively regulate bank dividend policies via capital regulations to prevent increased management risks and stabilize the financial system.
목차
Abstract
Ⅰ. Introduction
Ⅱ. Previous research and research hypothesis
Ⅲ. Data and Methodology
1. Data for Analysis
2. Research Model and Variables
3. Statistics
Ⅳ. Empirical Analysis Results
1. Difference Analysis of Key Variables
2. Panel Regression Analysis
3. Robust Test: Non-linearity Verification
Ⅴ. Conclusion and Implications
References
키워드
Bank Dividend Policy Managerial Risk Capital Regulation Moderating Effect저자
간행물 정보
발행기관
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- 발행기관명
- 한국재무학회 [The Korean Finance Association]
- 설립연도
- 1988
- 분야
- 사회과학>경영학
- 소개
- 본 회는 재무학 및 이와 관련되는 분야를 발전시키며 회원 상호간의 친목 도모를 목적으로 한다.
간행물
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- 간행물명
- 재무연구 [Asian Review of Financial Research]
- 간기
- 계간
- pISSN
- 1229-0351
- eISSN
- 2713-6531
- 수록기간
- 1988~2026
- 등재여부
- KCI 등재,SCOPUS
- 십진분류
- KDC 325 DDC 330
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