Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets

Jabbouri, Imad

doi:10.1016/j.ribaf.2016.01.018

Cited by 167 publications

(251 citation statements)

References 104 publications

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“…Consistent with previous findings, the study reports a negative relationship between financial leverage and dividend policy I. Jabbouri [3], D.L. Papadopoulos, P.D.…”

Section: Resultssupporting

confidence: 90%

“…The result is similar with prior findings, companies facing liquidity risk are unlikely to issue dividends H. DeAngelo, L. DeAngelo, D.J. Skinner [13], I. Jabbouri [3].…”

Section: Resultssupporting

confidence: 90%

“…This is in line with Z. Jin [24], but this result does not agree with the findings of I. Jabbouri [3], H. DeAngelo, L. DeAngelo, D.J. Skinner [13] where they mentioned the fact that firm size is positively associated with dividend payout.…”

Section: Resultscontrasting

confidence: 48%

“…Iancu [26]. The result specify that management tends to increase dividend payments in periods of economic downturns and decrease them in good economic times, which is in line with I. Jabbouri [3]. For detecting the multi-collinearity among predictors in the multiple regression model, the Variance Inflation Factors (VIF) for explanatory variables were determined and presented in Table IV.…”

Section: Resultsmentioning

confidence: 68%

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Determinants of corporate dividend policy: evidence from romanian listed companies

Cristea

2017

MATEC Web Conf.

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“…Consistent with previous findings, the study reports a negative relationship between financial leverage and dividend policy I. Jabbouri [3], D.L. Papadopoulos, P.D.…”

Section: Resultssupporting

confidence: 90%

“…The result is similar with prior findings, companies facing liquidity risk are unlikely to issue dividends H. DeAngelo, L. DeAngelo, D.J. Skinner [13], I. Jabbouri [3].…”

Section: Resultssupporting

confidence: 90%

Section: Resultscontrasting

confidence: 48%

Section: Resultsmentioning

confidence: 68%

See 2 more Smart Citations

Determinants of corporate dividend policy: evidence from romanian listed companies

Cristea

2017

MATEC Web Conf.

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“…Size (SZ) is one of the control variable measured by using the natural logarithm of total assets [18]. Growth in assets (GROWTH) is determined as the ratio of the change in total assets at the end of the year to the level of total assets at the beginning of the year [14].…”

Section: Methodsmentioning

confidence: 99%

The influence of dividend policy on the volatility of shares in the Romanian equity capital market

Cristea

2018

MATEC Web Conf.

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Abstract. Dividend policy is one of the most debated topics in corporate finance and, at the same time, it represents an important issue from the perspective of both the managers of the firm and the investors. To the best of our knowledge, the literature regarding establishing the relationship between dividend policy and share price volatility of non-financial companies listed on Romanian stock market remains inexistent. This study attempts to identify how the share price volatility of non-financial companies listed on the Bucharest Stock Exchange for a period of sixteen years from 2002 and 2017 is influenced by corporate dividend policy. Results from a cross sectional multiple regression analysis revealed a negative effect of the two components of the dividend policy on the share price volatility. The results support the idea that the lower the dividend yield, the higher the risk to be faced by the shareholder. Growth in assets and share price were negatively related. Positive relationship between firm size and debt ratio to price volatility were identified. However, there was no significant relationship found between earning volatility and price volatility in the Romanian stock market.

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The effects of institutional settings and risks on bank dividend policy in an emerging market: Evidence from Tobit model

Athari¹

2020

Int. J Fin Econ

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This study investigates specifically the effects of institutional settings and risks on dividend payout policy for banks operate in an emerging market of Nigeria. The present study measures the risk by using financial, business, credit, and default risk at the bank‐level and financial, economic, and political risk at the country level. To achieve the objective of this study, panel data random‐effects Tobit estimation methodology is employed from the period 2007–2016. Findings reveal that the weak institutional settings lead Nigerian banks to pay out fewer dividends and set their payouts corresponding to the substitution agency model of dividends. Also, results show that Nigerian banks typically pay out more dividends in cases of growth opportunity as a substitute mechanism for mitigating agency problems and for establishing a good reputation. However, by strengthening the levels of investor protection, Nigerian bank managers prefer a low payout policy and are less probable to use dividend policies as a substitute mechanism. Moreover, except for the positive effect of default risk, findings show that the risks at the bank‐level, in particular, business risk, and at the country level, particularly financial and economic risks, have a significant negative effect on dividend payouts. Results are robust to alternative estimation procedures and also document that global risk has a statistically significant negative impact on Nigerian banks' dividend payouts policy.

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Determinants of corporate dividend policy in emerging markets: Evidence from MENA stock markets

Cited by 167 publications

References 104 publications

Determinants of corporate dividend policy: evidence from romanian listed companies

Determinants of corporate dividend policy: evidence from romanian listed companies

The influence of dividend policy on the volatility of shares in the Romanian equity capital market

The effects of institutional settings and risks on bank dividend policy in an emerging market: Evidence from Tobit model

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