Exploring dividend policy, stock price volatility, and the impact of ownership structure: a study of non-financial companies

Ahmad Almansi, Mahmoud AlKhalialeh, Hala Zaidan, Ahmad Al-Dmour, Omar Mowafi and Muntaser J. Melhem

International Journal of Accounting, Auditing and Performance Evaluation, 2025, vol. 21, issue 3/4, 477-498

Abstract: This study investigates the relationship between dividend policy and stock price volatility in the context of non-financial companies listed on the Jordanian Amman Stock Exchange from 2010 to 2019. This study also examines if foreign and state ownership affects this relationship. By applying multiple regression on the sample of the study, we found that dividend policy, as determined by dividend payout, did not significantly affect stock price volatility. However, our data revealed that state ownership significantly affects stock price volatility. Interestingly, our research did not find any moderating effects of foreign or state ownership on the relationship between dividend policy and stock price volatility. Overall, by offering insights relevant to the setting of non-financial enterprises listed on the Jordanian Amman Stock Exchange, this study adds to the body of knowledge available on dividend policy and stock price volatility.

Keywords: dividend policy; ownership structure; stock price volatility; dividend payout; non-financial firms; state ownership; foreign ownership. (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.inderscience.com/link.php?id=148329 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijaape:v:21:y:2025:i:3/4:p:477-498

Access Statistics for this article

More articles in International Journal of Accounting, Auditing and Performance Evaluation from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().