Moderating Role of Investment Efficiency between Board Diversity and Dividend Policy: Evidence from Pakistan

The purpose of this study is to enhance the understanding in debate governance demographics by investigate impact board diversity on dividend policy and moderating effect corporate investment efficiency policy. sample incorporated comprises panel data 77 firms listed Karachi stock exchange (KSE) during period 2012-2019. This performs a parametric technique regression analysis measure Panel least square models association between Furthermore, hierarchical explained results for interaction efficiency. adds new finding through empirical an investigation Results support Our suggests that involve high level efficient with diverse ethnic backgrounds gender significantly associated explains practical implications boards south Asian culture who main goal finance wealth maximization shareholders terms dividends.