Dividend Policy and Companies’ Financial Performance

• 발행기관: 한국유통과학회
• 저자명: Raed KANAKRIYAH
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.10, 531~541쪽, 전체 11쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.10.30

영문 초록

This study aims to determine the nature of the association between dividend policy and a corporation’s financial performance in emerging countries, as well as the main variables that may have an effect on financial performance. The study included 92 industrial and service sector companies listed on the Amman Stock Exchange (ASE) during the period from 2015 to 2019. The study used Panel Data Analysis and cross-sectional time-series data and simple and multiple linear regression models. A multiple regression model was also developed in order to test whether guess factors may have a possible impact on financial performance (such as Dividend Yield, Dividend Pay-out Ratio, Firm Size, Leverage Ratio, Current Ratio). The data was collected from the annual reports and information that was available on the ASE website covering the period from 2015 to 2019. The results detect a strong relation between DY, DPR, and FSIZE variables that explain firm performance. Also leverage ratio is negatively and significantly associated with ROA and AOE. Moreover, no relations were detected between current ratio and financial performance. The study’s conclusion is that dividend policy explains a lot of a company’s financial performance, meaning that the dividend policy has a statistically significant impact on company financial performance.

목차

1. Introduction

2. Theoretical Framework for Dividend Policy

3. Literature Review

4. Study Methodology

5. Results

6. Conclusion, Recommendations and Future Studies

References

키워드

Dividend Policy Financial Performance Dividend Yield Dividend Pay-Out Ratio Firm Size