العلاقة بين حوكمة الشركات و توزيعات الأسهم النقدية في ظل اختلاف نشاط الشركات المساهمة المدرجة في البورصة المصرية : قطاعي الصناعة و الخدمات

Abstract EN

This study aims to identify the relation between corporate governance and cash dividends under different companys’ activities in Egypt.

The study identifies the concept of cash dividends and the importance of corporate governance and its relation to financial reports.

The study, then, analyzes the relationship between each of the characteristics of corporate governance and dividend yield in industrial and services corporations listed at the Egyptian Exchange Market.

The study sample includes forty three corporations through time series during 20052010.

The study used pooled data regression model to examine the relationship between several independent variables represented in some characteristics of corporate governance and the dependent variable of cash dividends.

The study concludes that there is a statistically significant relationship between corporate governance and cash dividends in the Egyptian corporations.

It also found a positive statistically significant impact on dividend yield for the attendance percentage of shareholders at the general assembly, the percentage of non executive members in the board of directors, the financial experience of audit committee members, transparency and disclosure, and rules to avoid conflicts of interest.

The study also concludes that the impact of corporate governance is higher in Egyptian services corporations compared to its impact on dividend yield in the industrial corporations.