Board Size and Dividend Policy: A Review

The current study aimed at reviewing the theoretical and empirical research regarding board size and dividend policy.The role of board has been emphasized in the previous studies in monitoring the managerial decisions.In terms of the methodology, the current study has reviewed and identified most of previous studies on the role of board size and dividends. The results are mixed regarding the effectiveness of board depending on its size.The results of the previous studies are mixed and alternative views are reported based on agency theory and resource dependency theories. Future studies may focus on the composition of boards in terms of their education, knowledge and experience along with the board size.