{"id":"https://openalex.org/W3204097128","doi":"https://doi.org/10.1108/jrf-10-2020-0226","title":"Dividend policy and the downside risk in stock prices: evidence from the MENA region","display_name":"Dividend policy and the downside risk in stock prices: evidence from the MENA region","publication_year":2021,"publication_date":"2021-09-24","ids":{"openalex":"https://openalex.org/W3204097128","doi":"https://doi.org/10.1108/jrf-10-2020-0226","mag":"3204097128"},"language":"en","primary_location":{"id":"doi:10.1108/jrf-10-2020-0226","doi":"https://doi.org/10.1108/jrf-10-2020-0226","is_oa":false,"landing_page_url":"https://doi.org/10.1108/jrf-10-2020-0226","pdf_url":null,"source":{"id":"https://openalex.org/S61561007","display_name":"The Journal of Risk Finance","issn_l":"1526-5943","issn":["1526-5943","2331-2947"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Risk Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5014598374","display_name":"Omar Farooq","orcid":"https://orcid.org/0000-0002-4399-1073","observed_orcids":["https://orcid.org/0000-0002-4399-1073"]},"institutions":[{"id":"https://openalex.org/I308136634","display_name":"ADA University","ror":"https://ror.org/053ez2v94","country_code":"AZ","type":"education","lineage":["https://openalex.org/I308136634"]}],"countries":["AZ"],"is_corresponding":false,"raw_author_name":"Omar Farooq","raw_affiliation_strings":["ADA University, Baku, Azerbaijan"],"raw_orcid":"https://orcid.org/0000-0002-4399-1073","affiliations":[{"raw_affiliation_string":"ADA University, Baku, Azerbaijan","institution_ids":["https://openalex.org/I308136634"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5048947307","display_name":"Harit Satt","orcid":"https://orcid.org/0000-0002-7105-4407","observed_orcids":["https://orcid.org/0000-0002-7105-4407"]},"institutions":[{"id":"https://openalex.org/I47844","display_name":"Al Akhawayn University","ror":"https://ror.org/03erkev52","country_code":"MA","type":"education","lineage":["https://openalex.org/I47844"]}],"countries":["MA"],"is_corresponding":false,"raw_author_name":"Harit Satt","raw_affiliation_strings":["Al Akhawayn University in Ifrane, Ifrane, Morocco"],"raw_orcid":"https://orcid.org/0000-0002-7105-4407","affiliations":[{"raw_affiliation_string":"Al Akhawayn University in Ifrane, Ifrane, Morocco","institution_ids":["https://openalex.org/I47844"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5043695305","display_name":"Fatima Zahra Bendriouch","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I47844","display_name":"Al Akhawayn University","ror":"https://ror.org/03erkev52","country_code":"MA","type":"education","lineage":["https://openalex.org/I47844"]}],"countries":["MA"],"is_corresponding":false,"raw_author_name":"Fatima Zahra Bendriouch","raw_affiliation_strings":["Al Akhawayn University in Ifrane, Ifrane, Morocco"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Al Akhawayn University in Ifrane, Ifrane, Morocco","institution_ids":["https://openalex.org/I47844"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5005549911","display_name":"Diae Lamiri","orcid":"https://orcid.org/0000-0003-4000-8376","observed_orcids":["https://orcid.org/0000-0003-4000-8376"]},"institutions":[{"id":"https://openalex.org/I47844","display_name":"Al Akhawayn University","ror":"https://ror.org/03erkev52","country_code":"MA","type":"education","lineage":["https://openalex.org/I47844"]}],"countries":["MA"],"is_corresponding":false,"raw_author_name":"Diae Lamiri","raw_affiliation_strings":["Al Akhawayn University in Ifrane, Ifrane, Morocco"],"raw_orcid":"https://orcid.org/0000-0003-4000-8376","affiliations":[{"raw_affiliation_string":"Al Akhawayn University in Ifrane, Ifrane, Morocco","institution_ids":["https://openalex.org/I47844"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":2.3543,"has_fulltext":false,"cited_by_count":19,"citation_normalized_percentile":{"value":0.8902644,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"22","issue":"3/4","first_page":"261","last_page":"278"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.989300012588501,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.989300012588501,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.006899999920278788,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.0008999999845400453,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/dividend-policy","display_name":"dividend policy","score":1.0},{"id":"https://openalex.org/keywords/downside-risk","display_name":"downside risk","score":0.9860000014305115},{"id":"https://openalex.org/keywords/stock-prices","display_name":"stock prices","score":0.8880000114440918},{"id":"https://openalex.org/keywords/principal-agent-problem","display_name":"principal-agent problem","score":0.8629999756813049},{"id":"https://openalex.org/keywords/non-financial-firms","display_name":"non-financial firms","score":0.9100000262260437},{"id":"https://openalex.org/keywords/middle-east-and-north-africa","display_name":"Middle East and North Africa","score":0.9129999876022339},{"id":"https://openalex.org/keywords/dividend-payout","display_name":"dividend payout","score":0.375}],"concepts":[{"id":"https://openalex.org/C2776719154","wikidata":"https://www.wikidata.org/wiki/Q1094965","display_name":"Downside risk","level":3,"score":0.9063098430633545},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.7975546717643738},{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.6941825747489929},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.654906153678894},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.6547858715057373},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5703285336494446},{"id":"https://openalex.org/C36673458","wikidata":"https://www.wikidata.org/wiki/Q392896","display_name":"Agency cost","level":4,"score":0.509638786315918},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.41971322894096375},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.16871753334999084},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.09781023859977722},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.06471884250640869},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1108/jrf-10-2020-0226","doi":"https://doi.org/10.1108/jrf-10-2020-0226","is_oa":false,"landing_page_url":"https://doi.org/10.1108/jrf-10-2020-0226","pdf_url":null,"source":{"id":"https://openalex.org/S61561007","display_name":"The Journal of Risk Finance","issn_l":"1526-5943","issn":["1526-5943","2331-2947"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","fnege-4","jufo-1","norway-1","poland-20","russia-white-list-2","vabb-shw"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Risk Finance","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:eme:jrf000:jrf-10-2020-0226","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/JRF-10-2020-0226.html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"},{"id":"pmh:oai:RePEc:eme:jrfpps:jrf-10-2020-0226","doi":null,"is_oa":false,"landing_page_url":"https://www.emerald.com/insight/content/doi/10.1108/JRF-10-2020-0226/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.46149998903274536,"id":"https://metadata.un.org/sdg/16","display_name":"Peace, justice, and strong institutions"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":45,"referenced_works":["https://openalex.org/W780122882","https://openalex.org/W1504399323","https://openalex.org/W1593992331","https://openalex.org/W1948069282","https://openalex.org/W1966586504","https://openalex.org/W1976431070","https://openalex.org/W2005193841","https://openalex.org/W2007946665","https://openalex.org/W2009408420","https://openalex.org/W2018962149","https://openalex.org/W2024215468","https://openalex.org/W2034863340","https://openalex.org/W2046977394","https://openalex.org/W2060795823","https://openalex.org/W2063481177","https://openalex.org/W2069744358","https://openalex.org/W2080701561","https://openalex.org/W2089556049","https://openalex.org/W2092267494","https://openalex.org/W2094395867","https://openalex.org/W2103957388","https://openalex.org/W2113820170","https://openalex.org/W2116490166","https://openalex.org/W2142856961","https://openalex.org/W2150625665","https://openalex.org/W2158978917","https://openalex.org/W2160860931","https://openalex.org/W2161215497","https://openalex.org/W2203555877","https://openalex.org/W2223768511","https://openalex.org/W2324975807","https://openalex.org/W2493859988","https://openalex.org/W2596892837","https://openalex.org/W2770997807","https://openalex.org/W2891389313","https://openalex.org/W2940437888","https://openalex.org/W2943149526","https://openalex.org/W2953548712","https://openalex.org/W2954378865","https://openalex.org/W2990332714","https://openalex.org/W3110872980","https://openalex.org/W3121131820","https://openalex.org/W3122255869","https://openalex.org/W3124142968","https://openalex.org/W3124748962"],"related_works":["https://openalex.org/W2238733681","https://openalex.org/W7095919613","https://openalex.org/W2011413691","https://openalex.org/W4405363128","https://openalex.org/W2899506741","https://openalex.org/W4387480407","https://openalex.org/W2911286295","https://openalex.org/W2142931100","https://openalex.org/W1481829242","https://openalex.org/W2784292173"],"abstract_inverted_index":{"Purpose":[0],"The":[1,22,44,76],"aim":[2],"of":[3,11,78,86,105,136,141,152],"this":[4,79,165],"paper":[5,55,80,94,163],"is":[6,110],"to":[7,34,112],"document":[8],"the":[9,15,25,31,40,47,73,102,113,126,134,137,142,146,150,156,169,172,176,181],"impact":[10,151],"dividend":[12,61,87,153],"policies":[13],"on":[14,155],"downside":[16,66,98,127,157],"risk":[17,67,99,128,158],"in":[18,68,129,159],"stock":[19,70,103,130,160],"prices.":[20,131,161],"Design/methodology/approach":[21],"authors":[23],"use":[24],"data":[26,45,177],"for":[27,178],"non-financial":[28],"firms":[29,58,106,117,179],"from":[30,180],"MENA":[32,147,182],"region":[33],"test":[35],"our":[36],"arguments":[37],"by":[38,167,174],"estimating":[39],"pooled":[41],"OLS":[42],"regressions.":[43],"cover":[46],"period":[48],"between":[49,171],"2010":[50],"and":[51,89],"2018.":[52],"Findings":[53],"This":[54,93,162],"shows":[56],"that":[57,96,115],"with":[59,101],"higher":[60],"payouts":[62],"have":[63,118],"significantly":[64],"lower":[65,97,119],"their":[69],"prices":[71,104],"than":[72],"other":[74],"firms.":[75],"findings":[77],"are":[81],"robust":[82],"across":[83,90],"various":[84,91],"proxies":[85],"policy":[88,154],"sub-samples.":[92],"contends":[95],"associated":[100],"paying":[107],"high":[108],"dividends":[109],"due":[111],"fact":[114],"these":[116],"agency":[120,123],"problems.":[121],"Lower":[122],"problems":[124],"reduce":[125],"Originality/value":[132],"To":[133],"best":[135],"authors\u2019":[138],"knowledge,":[139],"most":[140],"prior":[143],"research":[144],"(covering":[145],"region)":[148],"overlooks":[149],"fills":[164],"gap":[166],"documenting":[168],"relationship":[170],"two":[173],"using":[175],"region.":[183]},"counts_by_year":[{"year":2026,"cited_by_count":6},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":7},{"year":2023,"cited_by_count":1},{"year":2022,"cited_by_count":4}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2021-10-11T00:00:00"}
