Corporate Dividend Policies during the COVID-19 Pandemic

被引：6

作者：

Ali, Nasir ^{[1
]}

Rehman, Muhammad Zia Ur ^{[1
]}

Ashraf, Badar Nadeem ^{[2
]}

Shear, Falik ^{[1
]}

机构：

[1] Natl Text Univ, Faisalabad Business Sch, Faisalabad 37610, Pakistan

[2] London South Bank Univ, LSBU Business Sch, London SE1 0AA, England

来源：

ECONOMIES | 2022年 / 10卷 / 11期

关键词：

COVID-19; dividend policy; logit regression; Pakistan; DISAPPEARING DIVIDENDS; NATIONAL CULTURE; TAXES;

D O I：

10.3390/economies10110263

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

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.

引用

页数：12

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