Analyzing the reactions of Amman stock exchange’s investors towards dividends policies and the 2003_American invasion to Iraq

Mohammad Sami Ali

Macroeconomics and Finance in Emerging Market Economies, 2024, vol. 17, issue 1, 174-188

Abstract: This study scrutinized the impacts of dividends and the 2003_Iraqi war in investors’ reactions as represented by the stock market’s performance, over the period Jan/1990-Dec/2017. Thus, through using techniques like the ADF, Johansen co-integration, the single equation of the VECM and the wald ${{\rm{\chi }}^2}$χ2 tests; the findings confirmed that except for the value traded and M/BV, investors’ reactions are significantly influenced by dividends and the American invasion to Iraq, over the long-run. Furthermore, since the capital gains are positively responded to the increase in stocks’ demands; the study induced that investors are following both the relevance and irrelevance dividends’ theories.

Date: 2024
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DOI: 10.1080/17520843.2022.2035522

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