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Given the importance of both research and development (R&D) investments and dividend policy in the growth of firms, this paper examines the moderating effects of investor protection and other country-level governance mechanisms on the relationship between R&D investments and dividend payments in the firms from Brazil, Russia, India, China and South Africa (BRICS countries).

This empirical study uses a sample of 22,073 firm year observations from the BRICS countries over a period of 2008–2020 and employs both ordinary least squared (OLS) and system generalized method of moments (GMM) estimation methods. The GMM estimation controls for unobservable heterogeneity and endogeneity and reduces estimation bias.

The findings indicate that although R&D intensity is negatively related with the cash dividend payments, with the interaction of investor protection and other country-level mechanisms the relationship between R&D intensity and dividend payments becomes positive. The results further show that investor protection has stronger impact on the relationship between R&D intensity and firm cash dividend payments than other selected country-level governance factors.

The research findings should encourage the policy makers in BRICS countries to strengthen investor protection and enhance quality of their institutions to make a right balance between retaining their growth potential and maintaining the value of the firms.

This is the first study to provide evidence of the moderating effects of investor protection and other country-level governance mechanisms on the relationship between R&D investments and dividend payments using the data from BRICS countries.

Gender equality as well as diversity in workplace in general and management in particular is said to provide a number of benefits, including new ideas and improved communication, insights into female market segmentation, and a greater work-life balance. While importance of women in corporate boards has been long acknowledged, but unfortunately till date females have made only modest gains in terms of directorships on corporate boards. Following the trend of this globalized business domain a paradigm shift in regulatory framework is witnessed in India by Section 149(1) of Companies Act, 2013 through mandatory inclusion of at least one female director in board. Against this backdrop, present study has envisaged the state of affairs relating to the gender diversity and corporate governance practices of selected major listed companies in India. However, it is really premature to reveal any statistically significant difference in their corporate governance disclosure practices based on the gender diversity. However, the positive vibes generated by the gender equality in the boardroom cannot be under-shadowed as across the world various empirical studies revealed that adherence to gender equality in substance over form on longer time horizon will definitely provide right momentum toward competitive advantage on sustainable basis for the business.