DIVIDEND POLICY AND STOCK PRICE PERFORMANCE: EVIDENCE FROM THE KAZAKHSTAN STOCK EXCHANGE

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dc.contributor.authorShynatay, Zhassulan
dc.date.accessioned2024-12-23T09:21:48Z
dc.date.available2024-12-23T09:21:48Z
dc.date.issued2024-12-12
dc.description.abstractTheoretically, the publication of dividends does not have any impact on the financial position of the company, since capitalization and resources remain unchanged. Nevertheless, world practice shows that the market reacts to stock publications about the payment of dividends. This study performed an analysis of the impact of the publication of payments and the payment of dividends by Kazakhstani companies on the KASE and LSE trading exchanges. The study found that for financial companies an announcement of dividend increase positively impacts the stock prices and investors experience positive abnormal returns. However, for non-financial companies increase in the amount of dividends lead to negative abnormal returns which means drop in the price of stocks. Overall the market reacts negatively to the announcement of dividends.
dc.identifier.citationShynatay, Zh. (2024). Dividend Policy and Stock Price Performance: Evidence from the Kazakhstan Stock Exchange. Nazarbayev University Graduate School of Public Policy.
dc.identifier.urihttps://nur.nu.edu.kz/handle/123456789/8367
dc.language.isoen
dc.publisherNazarbayev University Graduate School of Business
dc.rightsAttribution-NonCommercial-ShareAlike 3.0 United Statesen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-sa/3.0/us/
dc.subjectEvent study
dc.subjectDividend announcement
dc.subjectEvent Window
dc.subjectEstimation Window
dc.subjectAbnormal return
dc.subjectMarket Reaction
dc.subjectMean-Adjusted Return
dc.subjectMarket Adjusted Return
dc.subjectOLS.
dc.subjectType of access: Embargo
dc.titleDIVIDEND POLICY AND STOCK PRICE PERFORMANCE: EVIDENCE FROM THE KAZAKHSTAN STOCK EXCHANGE
dc.typeMaster`s thesis

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