How do stock markets react to dividend announcements during the COVID-19 pandemic? Evidence from the GCC markets
Jamal Ali Al-Khasawneh,
Heba Ali,
Ahmed Hassanein
Abstract:Purpose
This study aims to investigate how stock markets responded to corporate dividend policy changes during the COVID-19 pandemic in the Gulf Cooperation Council (GCC) countries. Likewise, it explores how efficiently market prices incorporate the news by examining the speed of stock price adjustment to various dividend announcements.
Design/methodology/approach
The sample includes 741 dividend announcements from 2017 to 2021 made by 326 firms listed in the stock markets of the GCC countries. A series of re… Show more
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