The Determinants of Corporate Dividend Policy: Evidence from Palestine
Huy Tran and
Journal of Finance and Investment Analysis, 2016, vol. 5, issue 4, 2
This paper aims at finding if there is any difference between the dividend policyÂ implemented by listed companies in the Palestine market and those that areÂ popularly documented in the literature. The data used for this study is collectedÂ from the Palestinian Stock Exchange for a period from 2008 to 2012 and from theÂ interviews with Chief Financial Officers (CFOs) of the listed companies. TheÂ paper finds that profitability and firm size are positively significant to the dividendÂ payout, while financial leverage and asset structure are negative to it. The viewsÂ from CFOs mostly support this finding. We however do not find the impact ofÂ liquidity, free cash flows, growth opportunities and ownership on dividend payoutÂ as indicated in the literature. The CFOs also agree with most common dividendÂ policy theories documented in the literature. We conclude that there is not muchÂ difference between the Palestinian market and other developed markets in terms ofÂ the approach to dividend policy and its determinants. Our research therefore addsÂ to the literature with new evidence from the Palestine market.
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Persistent link: https://EconPapers.repec.org/RePEc:spt:fininv:v:5:y:2016:i:4:f:5_4_2
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