The study aims to investigate factors that determine dividend payout policy using 336 non-financial firm year observations covering the period 2005 to 2016 in Malaysia. We found a significant positive relationship between corporate board size, board members average age, board tenure and dividend payout policy. We also found a strong negative effect and statistically insignificant relationship of board diversity, board independence, CEO duality and dividend payout policy. Additional, financial leverage has a negative effect on dividend payout policy. It is also noticed that firms with diverse boards are more likely to pay dividends and tend to pay larger dividends than those with non-diverse boards. Our results suggest that board diversity has a significant impact on dividend payout policy. Impact of board diversity on dividend payout policy is particularly conspicuous for firms with potentially greater agency problems. Our findings are consistent with the argument that corporate board traits enhancement positively affect the dividend payout policy which is beneficial for shareholders. This study offers useful insights into the current global debate on board traits and its implications for firms. The dividend payout policy signals good news to investors. Corporate board traits and firm’s financial decision are the factors that disrupt the dividend decision.

The relationship between corporate board attributes and dividend payout is already established yet mediating role of leverage in not been examined in Malaysian market. Therefore, this study aims to examine the mediating effect of financial leverage on the relationship between corporate board attributes and the dividend pay-out policy. A sample of 203 non-financial firms listed on the BURSA Malaysia between 2005 and 2018 were analysed using SmartPLS 3.0. The findings show that there is a partial mediating effect of financial leverage on the relationship between board members age, board diversity and dividend pay-out policy. Financial leverage also mediates the relationship between number of women on board, CEO-duality and dividend pay-out policy. However, financial leverage doesn’t mediate the relationship between board size and dividend pay-out policy. This study offers insights to policy-makers to develop a better corporate governance as well as a guidance to firms in the construction and implementation of their corporate governance policies in relation to financial leverage. This study also shed light on the influence of efficient corporate board attributes on dividend pay-out policy and financial leverage for firm growth. This study concludes that corporate board attributes impact capital structure and thus, firms may change its payout policy.

The objective of the study is to examine the impact of financial development and foreign remittances on poverty and income inequality in the context of Pakistan. The study used ARDL-Bounds testing approach for robust inferences. The results show that in the short-run, remittances increases poverty and income inequality, which further translated into its long-run impact. The result confirmed the inverted Ushaped relationship between per capita income and income inequality, while the second order coefficient of per capita income substantially decline poverty incidence in a country. In the long-run, the results disappeared and it’s turned into U-shaped relationship between income inequality and country’s per capita income. Education largely decreases income inequality both in the short and long-run, however, it increases poverty in the long-run. Unemployment rate substantially damaged the pro-poor growth scenario, as high unemployment rate increases both the poverty rates and income inequality, which suffered poor more than non-poor in a country. Financial development has a positive impact on poverty reduction and income inequality in the short-run. The impact of income inequality on poverty incidence is positive both in the short- and long-run, which need pro-poor growth policies and rationale income distribution in a country.