Stock repurchase and Arab Spring empirical evidence from the MENA region

Hamouda, Foued

doi:10.1016/j.jfds.2017.11.003

Cited by 3 publications

(2 citation statements)

References 8 publications

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“…Furthermore, high unemployment rate, poverty, dictatorship and notable decrease of economic opportunities were enough to be called as Arab spring in several Arab countries including Yemen, Tunisia, Libya, Egypt and Syria. All of these countries had a tremendous impact on their financial performance, which extend to negatively influence most of financial activities and economics in most Arab countries because of investors sensitivity towards new news in terms of the prospects of the economies (Hamouda, 2018). Then, Jordan had a protest movement in terms of political and economic demands (Abumoustafa, 2016).…”

Section: Non-economic Variablesmentioning

confidence: 99%

Highlighting Determinants of Financial Performance of the Jordanian Financial Sector: Panel Data Approach

Bekhet¹,

Alhyari²,

Yusoff³

2020

IJFR

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This study was aimed at identifying the main determinants of financial performance in Jordanian financial sector over 2005-2016 periods. Profitability ratio (return on equity) was used as a proxy of financial performance measurement. Meanwhile, firms’ specific variables, macroeconomic variables and non-economic factors were used as explanation variables. Panel data set for four sub-sectors of financial sector over the above period were used. Pooled OLS, Fixed effect, random effects techniques with Heteroskedasticity and Serial Correlation Robust Standard Error estimation methods were employed. The empirical results showed that liquidity and leverage were the key determinants of financial performance while risk, macroeconomic factors and non-economic factors do not affect the financial performance of financial sector in Amman Stock Exchange. Therefore, the results conclude that financial performance is mainly driven by firm specific factors (company characteristics). Thus, a sound financial performance can be obtained by giving attention to firm specific variables.

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Section: Non-economic Variablesmentioning

confidence: 99%

Highlighting Determinants of Financial Performance of the Jordanian Financial Sector: Panel Data Approach

Bekhet¹,

Alhyari²,

Yusoff³

2020

IJFR

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“…Furthermore, Farooq et al (2017) report a positive association between dividend payments and the earnings-returns ratio providing further support to De Angelo et al's (2006) argument that dividend decisions can be used as a tool to minimise agency conflicts. Recently, Hamouda (2018) examines share repurchases in light of the political instability in the MENA region using a sample of 1,510 share repurchase events from all ten countries in the region (Bahrain, Egypt, Israel, Jordan, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, and Tunisia). Complementary to that study, we also confirm that the use of cash dividends is the most popular approach for distributing wealth back to shareholders in these countries.…”

Section: Literature Reviewmentioning

confidence: 99%

The propensity to pay dividends: empirical evidence from the MENA region

Andrikopoulos

El-Ansary

Hassan

2020

IJBAAF

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This paper investigates the relation between stock market sentiment and firms' propensity to pay dividends in the MENA region for the period 2000-2015. Using conventional determinants of cash distributions as control variables, our results show that the tendency to pay dividends is negatively related to the aggregate investors' sentiment but positively related to the dividend premium. Unlike prior literature, we report no association between firms' dividend policy and issues of stock market liquidity. Overall, we suggest that corporate payout policies in the case of the MENA region can best be explained by the dividend catering hypothesis.

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Do adjustment costs influence firms’ target adjustment speeds? International evidence from share repurchase legalization

Gamage

2023

Journal of International Money and Finance

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Stock repurchase and Arab Spring empirical evidence from the MENA region

Cited by 3 publications

References 8 publications

Highlighting Determinants of Financial Performance of the Jordanian Financial Sector: Panel Data Approach

Highlighting Determinants of Financial Performance of the Jordanian Financial Sector: Panel Data Approach

The propensity to pay dividends: empirical evidence from the MENA region

Do adjustment costs influence firms’ target adjustment speeds? International evidence from share repurchase legalization

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