Cash Dividends Research Papers - Academia.edu (original) (raw)
This research aims to shed light on the impact of the ownership structure of companies listed in Damascus Securities Exchanges on the dividend policy adopted by these companies during the period (2010-2019) to achieve this objective, the... more
This research aims to shed light on the impact of the ownership structure of companies listed in Damascus Securities Exchanges on the dividend policy adopted by these companies during the period (2010-2019) to achieve this objective, the two researchers used a hypothetical-deductive approach to formulate the hypotheses; and analyzed the financial statements of all companies listed in Damascus Securities Exchanges. The results of the study showed that there is an impact of the following ratios (percentage of ownership of Syrian retail investors RI_S, percentage of ownership of foreign retail investors RI_F, number of independent Arab board members IN_A_BM, percentage of return on equity, size of the company) on the Stock dividend, as shown The results have an effect for each of the following ratios (percentage of ownership of retail investors RI, ownership percentage of foreign retail investors RI_F, debt ratio DR, size of the company) on the cash dividends DPR.
This study analyzes the impact of different types of dividend declaration, namely stock and cash dividends. Using event study method, MAAR and CAAR, this study found no evidence of abnormal returns on the declaration day for either of the... more
This study analyzes the impact of different types of dividend declaration, namely stock and cash dividends. Using event study method, MAAR and CAAR, this study found no evidence of abnormal returns on the declaration day for either of the types of dividends. However, significant negative returns are reported on days prior to the declaration day for stock dividend, indicating speculative nature of the investors. Furthermore, it provides positive returns during the post-announcement period as the investors realize the chance of potential gains. However, as far as cash dividend is concerned companies listed under DSE do not provide any significant abnormal returns during the 60 days event window. For CAAR, no significant return is reported for cash dividend, while stock dividend provided a maximum 5.6% abnormal returns during the post announcement period.
Using multivariate regression analysis complemented with simple linear regression, I find that not only do current fiscal year brokerage, clearing, and Exchange expenses affect commission and fees (CE) paid to the broker but also prior... more
Using multivariate regression analysis complemented with simple linear regression, I find that not only do current fiscal year brokerage, clearing, and Exchange expenses affect commission and fees (CE) paid to the broker but also prior brokerage, clearing, and Exchange expenses (BCE). Also, I find that Cash dividends are positively correlated with BCE expenses as well as CE fees. This result is particularly interesting because it implies that brokers can influence commission and fees by affecting the BCE expenses. This might also provide further reasons for agency problems to take place. Overall, this paper contributes to the existing literature on the behavior of brokers and dealers and how they influence the stock market. I.