Revue des reformes Economique et intégration dans l’économie mondiale
Volume 18, Numéro 2, Pages 80-91
2024-12-23

On The Determinants Of Dividend Policy: Evidence From Private Algerian Firms



Authors : Remaiche Imene .

Abstract

This paper investigates the main determinants of the payout policy of Algerian firms. The study targets 70 Algerian large private firms and covers the period 2010-2020. We perform a static panel data. Using traditional methods of panel data, Hausman’s test indicates that the random effect is more appropriate. However, the regression unveils heteroskedasticity issues. To address this issue, we use the PCSE method (Panel-Corrected Standard Errors). The results show the positive impact of profitability, liquidity, and tangibility of assets to the dividend ratio in Algeria. However, the size variable negatively affects the payout ratio.

Keywords

Payout policy ; large private firms ; Panel data analysis ; Algeria

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