The Effect of Dividend Policy on Stock Price Variability

Subject Areas :

Rezvan Hejazi ¹ , Rohollah Gheitasi ² , Mir Sajjad Mosajed Mousavi ³ , Sajedeh Rezaei ⁴

1 - دانشیار حسابداری دانشگاه الزهرا
2 - کارشناس ارشد حسابداری دانشگاه ایلام
3 - دانشجوی دکتری مدیریت مالی دانشگاه علامه طباطبایی
4 - کارشناس ارشد مدیریت بازرگانی دانشگاه آزاد اسلامی واحد قزوین

Received: 2015-05-09 Accepted : 2015-05-09 Published : 2011-11-22

Keywords: Dividend Policy, Stock Price Variability, Panel Data,

Abstract :

Dividend income is an important part of the corporate stock assessment methods and determines the dividend policy can be important for researchers and investors. The purpose of this study survey the relationship between dividend policy and stock price changes in the Tehran Stock Exchange. The population of this study is all nonfinancial firms listed in Tehran Stock Exchange during the years 1383 to 1388. Control variables include the size, variability of profits, debt ratios and asset growth. The least squares regression and panel fixed effects model was used. This study shows that dividend policy played a key role in the company's stock price changes in the Tehran Stock Exchange.

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