أثر سياسة توزيع الأرباح على القيمة السوقية للسهم في المؤسسة الاقتصادية : دراسة تحليلية مقارنة لمجمعي بيوفارم و صيدال لصناعة المواد الصيدلانية خلال الفترة 2015-2018

Abstract EN

The researchers aim in this study to try find out the effect of the dividend distribution policy on the market price of the biopharm and pharmaceutical pharmacy stocks.

During the period 2015-2018.

Considering that the two companies are quoted in the Algerian Stock Exchange and are active in the same sector.

When we look that the Saidal company follows a stable policy for the distribution of profits, while the Biopharm company adopts the policy for the best in the distribution of profits.

We have reached results, the most important of which is the impact of the market price of the stock during the dividend period, which was confirmed by many studies, In addition to our conclusion that the shareholders in practice favor the policy of distributing fixed profits for many considerations, which was shown by the "PER" index of the Saidal company.

We have also concluded that the nature of the dividend policy can affect the expected market prices of companies that operate in a competent stock exchange.