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The Moderating Role of Covid-19 Epidemic on the Relation between Stock Market Liquidity and Firm Dividend Policy: Applied Research on the Egyptian Stock Market

المصدر: المجلة العلمية للدراسات التجارية والبيئية
الناشر: جامعة قناة السويس - كلية التجارة بالاسماعيلية
المؤلف الرئيسي: Srour, Heba Mohamed Mohamed (Author)
المجلد/العدد: مج14, ع1
محكمة: نعم
الدولة: مصر
التاريخ الميلادي: 2023
الشهر: يناير
الصفحات: 1 - 39
ISSN: 2090-3782
رقم MD: 1382876
نوع المحتوى: بحوث ومقالات
اللغة: الإنجليزية
قواعد المعلومات: EcoLink
مواضيع:
كلمات المؤلف المفتاحية:
Dividend Policy | Covid-19 | Stock Market Liquidity
رابط المحتوى:
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المستخلص: Purpose: This paper investigates the Influence of the Covid-19 Epidemic on the relation between stock market liquidity and firms' dividend payout policy applying to the Egyptian stock market. Methodology: OLS and Logistic regression analysis is conducted to explain the 2 models used for a sample of (81) Egyptian Companies. Three main hypotheses are tested: (1) there is no significant influence of the Egyptian stock market liquidity on dividend policy. (2) The covid19 epidemic has no significant impact on the relationship between the Egyptian stock market liquidity and dividend policy. (3) there is no significant difference impact between the Egyptian stock market liquidity and dividend policy before and during a covid-19 epidemic. Findings: The result of this study is consistent with the majority of previous research indicating that stock market liquidity directly influences dividend policy. In addition, this paper demonstrates that Covid-19 has a detrimental impact on the relationship between stock liquidity and dividend policy as a moderator variable. Research limitations: The paper opens the area for future research by using a distinct dataset that includes the time period during and after the COVID-19 epidemic to capture the impact of covid-19 on the economy and the stock market. Originality/value: Its novelty stems from the fact that its new evidence can aid in evaluating the significance of stock liquidity and its effect on dividend policy in the Egyptian stock market. The research is useful for future analysis by employing a fresh sample period for a different set of data and taking into account the COVID-19 epidemic crisis.

ISSN: 2090-3782