Stock price reaction to cash dividend announcement: evidence from Saudi Arabian stock exchange

dc.contributor.author	Ziram, Walid
dc.date.accessioned	2023-09-13T06:20:29Z
dc.date.available	2023-09-13T06:20:29Z
dc.date.issued	2022-06-30
dc.description.abstract	The paper is aimed to investigate the cash dividend announcement impact on stock prices of companies listed on the Saudi stock exchange during 2011–2019. The full sample ‎examined is consists of 199 cash dividend announcements from 30 companies. An event study methodology is used to find if the cash dividend events have a significant impact on stock prices, 10 days before and after the announcement dates. The study shows a significant reaction in stock prices around the event date. In particular, cash dividend announcements have a significant positive effect on stock prices one day after the announcement; this is consistent with the information content theory. The presence of earlier and delayed significant abnormal returns indicates that stock prices do not reflect the publicly available information instantly and accurately, therefore the Saudi Stock Exchange is not consistent with the semi-strong form efficiency hypothesis.	ar
dc.identifier.issn	2352– 9822
dc.identifier.issn	E2588-1574
dc.identifier.uri	http://hdl.handle.net/123456789/15683
dc.language.iso	en	ar
dc.publisher	University of Oum El Bouaghi	ar
dc.subject	Saudi stock exchange	ar
dc.subject	Cash dividend announcements	ar
dc.subject	Information efficiency	ar
dc.title	Stock price reaction to cash dividend announcement: evidence from Saudi Arabian stock exchange	ar
dc.type	Article	ar

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