The Relationship of the Effect of Cash Dividends on the Price Coincidence of the Stock Exchanges of Tehran Stock Exchange

Document Type : Original Article

Authors
Mohammad khanmadi 1
Seyyed Mohammadreza Raeeszadeh 2
Shahab Yekkeh Fallah 3
1 Master of Accounting, Chalus Branch, Islamic Azad University, Chalus, Iran.
2 Assistant Professor, Department of Accounting, Chalus Branch, Islamic Azad University, Chalus, Iran.
3 Master of Auditing, Abhar Branch, Islamic Azad University, Abhar, Iran.
10.22034/jgdsm.2025.531696.1019
Abstract
The present study examines the effect of cash dividend payout ratio on stock price synchronization of companies listed on the Tehran Stock Exchange . The statistical population of the study includes companies listed on the Tehran Stock Exchange in the period 2011-2011. Considering the limitations imposed, and also by eliminating over-the-counter companies and using the systematic elimination method, 101 companies were selected as the final sample . The results showed that there is a positive and significant relationship between cash dividend payout ratio and stock price synchronization , and the control variables of company size and earnings per share and company growth and the ratio of market value to book value of the company have a significant relationship with the dependent variable , namely stock price synchronization . The estimated coefficient (0.242721) and t-statistic (2.768767) related to the corporate social responsibility (CSR) variable are positive and statistically significant (0.0125) .
Keywords
Cash dividend payout ratio
stock price synchronization
market-to-book ratio

  • Receive Date 09 February 2025
  • Revise Date 06 March 2025
  • Accept Date 10 March 2025
  • First Publish Date 20 March 2025
  • Publish Date 20 March 2025