Ownership structure management and its effect on dividend policy in the Tunisian stock exchange enterprises: an empirical study
by Ibtissem Missaoui; Mohsen Brahmi; Jaleleddine Ben Rajeb
International Journal of Technology Transfer and Commercialisation (IJTTC), Vol. 19, No. 1, 2022

Abstract: The main objective of this paper is to explore the relationship between ownership structures on dividend ratio payouts of the Tunisian listed companies in the stock exchange of Tunis (SET). The method used was linear regression model (LRM) with panel data analysis to study the causality sample that comprises 30 Tunisian listed companies. The findings showed a positive impact of the ownership structure on the level of dividends. Also, the regression results exhibited non-significant influence causality of CEO duality level on the stockholder dividend payouts. The limit of this empirical study concerns the small size of the sample in a period of 12 years from 2008. The future researches will include more financial companies in order to generalise the results founded. The original value and implication of this empirical research can interest more the scholar researchers in economic and finance corporate governance, the policymakers, foreign investors, and financial directors.

Online publication date: Thu, 26-May-2022

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