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impact of the dividend distribution policy on stock volatility

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  • Nidhal ZIADI ELLOUZ

Abstract

Purpose : This research analyses the impact of dividend distribution policy on the price volatility of the Tunisian companies as well as the moderating effect of the property structure on this relationship . \n Methodology : To better understand these relationships, a multivaried analysis was carried out in panel data and this was done on the basis of 44 Tunisian companies' samples listed on the Tunisian stock exchange (B. V.M.T ) the period from 2008 to 2014 in accordance with our two hypotheses. \n Results : We found that the dividend distribution policy is on the one hand significantly and negatively linked to the price volatility. On the other hand, the ownership structure has a moderating effect on the relationship between the dividend distribution policy and the price volatility. \n Originality : It lies in the choice of the empirical validation of the Tunisian context which is in perpetual turbulence and the integration of the moderating effect of the ownership structure of the relationship between the dividend distribution policy and the prices volatility that have not been tackled in the previous research.

Suggested Citation

  • Nidhal ZIADI ELLOUZ, 2024. "impact of the dividend distribution policy on stock volatility," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 15(2), pages 19-40, December.
    • Handle: RePEc:jaf:journl:v:15:y:2024:i:2:n:844
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    File URL: https://www.scientific-society.com/AF/article/view/844
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    JEL classification:

    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • N8 - Economic History - - Micro-Business History
    • G3 - Financial Economics - - Corporate Finance and Governance

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