Corporate payout, cash holdings, and the COVID-19 crisis: Evidence from the G-7 countries

被引：13
|
作者：
Ntantamis, Christos [1 ]
Zhou, Jun [2 ]
机构：
[1] Dalhousie Univ, Dept Econ, 6214 Univ Ave, Halifax, NS B3H 4R2, Canada
[2] Dalhousie Univ, Rowe Sch Business, 6100 Univ Ave, Halifax, NS B3H 4R2, Canada
来源：
FINANCE RESEARCH LETTERS | 2022年 / 50卷
关键词：
COVID-19; Dividends; Share repurchases; Cash holdings; G-7; countries; SHARE REPURCHASES; POLICY;
D O I：
10.1016/j.frl.2022.103275
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This paper examines the impact of the COVID-19 pandemic on the adjustments of dividends and share repurchases of publicly listed firms in the G-7 countries. Firms in the United Kingdom, Germany, France, and Italy experienced a widespread cut in dividends, while firms in the United States and Canada cut cash payout more via share repurchases, with Japanese firms in between. Corporate cash holdings helped mitigate the negative impact of COVID on payout adjustments, but the impact was less significant for European firms.
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页数：11
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