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Title: The effect of dividend policy on share price volatility : an analysis of Mediterranean banks' stocks
Authors: Camilleri, Silvio John
Grima, Luke
Grima, Simon
Keywords: Stock exchanges -- Mediterranean Region
Structural adjustment (Economic policy) -- Mediterranean Region
International economic integration
Banks and banking, International
Financial institutions, International
Financial services industry -- Mediterranean Region
Corporations -- Finance
Issue Date: 2018
Publisher: Emerald Group Publishing
Citation: Camilleri, S. J., Grima, L., & Grima, S. (2018). The effect of dividend policy on share price volatility : an analysis of Mediterranean banks' stocks. Managerial Finance, 45(2), 348-364.
Abstract: This empirical study investigates the relationship between share price volatility and dividend payments in the case of Mediterranean Banks. We use the dividend yield and the dividend payout as proxies of dividend policy, and regress these ratios together with other control variables to model share price volatility. The robustness of the results is assessed by re-using a data set which omits the outliers relating to the 2007 financial crisis and by forming sub-samples using a clustering procedure. Our results show that inferences may differ across samples and depending on the treatment of outlier observations. Besides adding new empirical evidence, our results offer insights to academics, stock traders and corporate managers in terms of better understanding the effect of dividend policies on share price volatility and its related risks and opportunities.
Appears in Collections:Scholarly Works - FacEMABF
Scholarly Works - FacEMAIns

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