Purpose: Operational risks appear as the main threats of the modern world. Mistakes made by employees, an imperfect information systems or changes in the law can cause losses that businesses today are not even able to estimate. Therefore, in the face of widespread the asymmetry of information,...

Purpose: As shareholder-elected monitors, independent non-executive directors (INEDs) should ensure that managers do not retain earnings to promote their own interests. The relationship between board independence and dividend distributions was hence investigated for selected companies listed on...