July 2015

Preponderant factors in the definition of dividend policies in Brazil

The aim of this study was to verify whether company managers take into account the factors assigned by the literature as the one to influence dividend policies the most in decisions regarding profit sharing. The research was made with 106 public companies in Brazil. The results showed that managers give more attention to factors such as legislation, Articles of Incorporation, cash availability, opportunities for future...

Author(s): Marcelo Augusto Ambrozini and Tabajara Pimenta Junior

July 2015

Interest rate, capital market and pensions management: Lessons from Nigeria

This paper examines empirically the causal relationship between interest rate, capital market, and pension assets in Nigeria from 1981-2013. While literature provides preponderant evidence of transmission from pension asset to capital market growth, little evidence is available of the reverse and the interaction with interest rate. The 2014 Pension Act widens the scope of pension fund investments into real estate and...

Author(s): Patrick Omoruyi Eke and Akinwunmi Kunle Onafalujo