تأثير عائد المقسوم في اسعار الاسهم العادية : دراسة تطبيقية في سوق العراق للاوراق المالية

Abstract EN

The Dividend Yield and is considered as the two of the most important financial indexes that have always got a significant attention due to their important role in determining the market value of these two indexes, depending on the realized earnings as well as on the policy being followed in paying them out.

This study has aimed to test the effect of the Dividend Yield on the market value of the common stock in the Iraqi environment.

The sample of the study consisted of (12) partnership and private companies, (7) of which are mixed partnership companies and (5) are private partnership companies.

This study has covered the years 1995-2004 and that period was divided into two subperiods, each of them is of (5) years interval.

The study has adopted one main hypotheses namely: Dividend Yield and Payout Ratio have positive effect on the market value of the common stock, and this effect different according to the different of the company's ownership.

Increase in the Price/ Earning Ratio.

For the purpose of analyzing and testing the relation between the variables of the research, beside testing the hypotheses mentioned above, this study has a number of financial and statistical methods, and then it reached to a number of conclusions, the most important of them are the weakness of Dividend Yield and Payout Ratio effect on determining the market value of stocks; that is because the dividend is low.