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Dividend Policy and Companies’ Financial Performance KCI 등재 SCOPUS

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한국유통과학회 (Korea Distribution Science Association)
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
Abstract
1. Introduction
2. Theoretical Framework for Dividend Policy
    2.1. Theories Explaining the Dividend Policy
    2.2. Dividend Forms
3. Literature Review
4. Study Methodology
    4.1. Study Population and Sample
    4.2. Methods of Data Collection
    4.3. Study Variables and Hypothesis Development
5. Results
    5.1. Descriptive Statistics
    5.2. Empirical Tests and Analysis
6. Conclusion, Recommendations and FutureStudies
References
저자
  • Raed KANAKRIYAH(Accounting Department, Business School, Al-Balq’a Applied University) Corresponding Author