Corporate Dividend Policies during the COVID-19 Pandemic

Autor:	Badar Nadeem Ashraf, Falik Shear, Nasir Ali, Dr Muhammad Zia-ur-rehman
Rok vydání:	2022
Předmět:	COVID-19 dividend policy logit regression Pakistan Economics Econometrics and Finance (miscellaneous) Development
Zdroj:	Economies; Volume 10; Issue 11; Pages: 263
ISSN:	2227-7099
DOI:	10.3390/economies10110263
Popis:	In this paper, we examine the changes in corporate dividend policies during the COVID-19 shock. For empirical analysis, we employ annual data of 360 companies from the Pakistan Stock Exchange over the period 2015–2020. Using descriptive analysis and Logit regression models, we find that firms were more likely to either omit or reduce dividend payments during the pandemic year of 2020 as compared to the trends in pre-COVID-19 years of 2015–2019. Further, firms with higher profitability, asset turnover and size were less likely to opt for dividend omissions. On the contrary, dividend omissions were more likely among firms with higher debt ratios. The findings of this study helps to understand firm dividend policies during crisis periods.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::50fa35213ea011894292bd45608ad67b https://doi.org/10.3390/economies10110263 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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