Houewou, A. C. M. (2022). Qualité de l’information comptable, Mécanismes de gouvernance et efficacité des politiques d’investissement sur les marchés boursiers africains: Cas de la BRVM et la BVMT. Ph.D. Thesis, Cheikh Anta Diop de Dakar, 364.

has been cited by the following article:

• TITLE: Dividend Policy and Investment Efficiency: Analysis of the Moderating Effect of the Quality of Financial and Accounting Information of Companies Listed on the West African Stock Market: Case of BRVM

  AUTHORS: Asséréou C. M. Houewou, Bertin Chabi, Boniface Bampoky

  KEYWORDS: Dividend Policy, Quality of Accounting Information, Investment

  JOURNAL NAME: Open Journal of Business and Management, Vol.13 No.2, March 17, 2025

  ABSTRACT: The study on dividend policy and investment efficiency was carried out with the aim of providing empirical evidence on the moderating role that the quality of accounting information can play in decision-making related to investment and dividend policy on the West African stock market. To carry out this study, forty-one (41) BRVM companies over a period from 2011 to 2023 were studied, excluding companies from the Finance and insurance sector and also those which disclosed incomplete information over the period study. To test the study’s hypotheses, panel data was used. The results of the study revealed a positive and significant effect of dividend policy on investment efficiency under the moderating effect of the quality of accounting information. This justifies that the effect of dividends on investments is less negative for companies whose quality of accounting information is higher than those whose quality of accounting information is lower.