Payout suspensions during the Covid-19 pandemic

被引:1
|
作者
Pettenuzzo, Davide [1 ]
Sabbatucci, Riccardo [2 ,3 ]
Timmermann, Allan [4 ,5 ]
机构
[1] Brandeis Univ, Int Business Sch, Waltham, MA USA
[2] Stockholm Sch Econ, Dept Finance, Drottninggatan 98, S-11160 Stockholm, Sweden
[3] Swedish House Finance SHoF, Drottninggatan 98, S-11160 Stockholm, Sweden
[4] Univ Calif San Diego, Rady Sch Management, La Jolla, CA USA
[5] Univ Calif San Diego, Dept Econ, La Jolla, CA USA
关键词
Dividend and buyback suspensions; High frequency data; Financial market distress; Covid-19;
D O I
10.1016/j.econlet.2023.111024
中图分类号
F [经济];
学科分类号
02 ;
摘要
We provide evidence on the unprecedented rate at which firms suspended dividend payments and share repurchases following the outbreak of the Covid-19 pandemic, compare it to the Global Financial Crisis, and estimate the amount of cash firms saved through payout suspensions.(c) 2023 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
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页数:4
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