2007 579 -557 ) (

ISSN 1726-6807, http://www.iugaza.edu.ps/ara/research/

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The Effect of the Announcing the Dividends on the Shares of the Corporations
Listed in Palestine Stock Exchange Market PSE"Applied Study"
Abstract: This study aims to explain the effects of announcing the dividends
on the share prices of the corporation listed in Palestine Stock Exchange
Market. To accomplish this study, the two researchers rely on the actual prices
of the listed shares in Palestine stock exchange Market. The study depended
on collecting the data from the reports of the Market, and it covered the period
from 1997 to 2005. The study also used the Simple and Multiple Regression
in order to test the hypothesis.
The most important results of this study are first , the study explain that the
earning per share , the dates of the dividends, the dividends per share and the
retained earnings per shares have an effect on the stock market price of the
corporation listed in the PSE market . Second, The dividends, the earning per
share and the retained earning have influence on the market share price, but
the dividends profits has more impact on the price than the retained profit.
Finally, the change of the earning per share is more than the change in the
stock market price .

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: :
Banker, R.D, et, al., Complementarily of Prior Accounting Information: The
case of Dividend Announcements, The Accounting Review, Vol. 68, no. 1, Jan
1993, PP. 28- 74.
Dhatt, MS., et, al., Japanese Stock Price Reactions to stock Dividend
Distribution, Pacific- Basin Finance Journal Vol. 2, 1997, PP. 43- 59.
EL- Khouri, R., Dividends and New Equity Issues by Jordanian Corporations:
an Empirical Investigation, Abhath Al Yarmouk, 13, 1997, (2/A).
EL-Khouri, R. and Almwalla, M., The Effect of Dividend Changes on Security
Prices "The Case of Jordanian Companies", Abhath Al Yarmouk,13,1997 (1/B).
Healy, P. and Paleph, K., Earning Information Conveyed by Divided Initiation
and Omissions, Review of Economics and Statistics: 1988, PP.149- 175.
Mikkelson, W., & Santerre, E., Dominant Stock Ownership and Profitability,
Management and Decision Economics, 7, Sept. 1980, PP. 207- 210.
Pettit, R., Dividend Announcements, Security Perfromance and Capital Market
Efficiency, The Journal of Finance, 27, Dec. 1972, PP.933- 1007.
Glen, J., Explaining Investors Preference for Cash Dividends, Journal of
Financial Economics, 11, 1980, PP. 35- 39.
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