Ph.D: Accounting Disclosure for financial Instruments: Financial Leverage Risk and Liquidity and their impact on earnings per share and Dividends Yield
Accounting disclosure for financial instruments through analyzing the actual accounting data are used as a vital market measures for financial leverage risk (debt and fixed costs) and assist in decision making as adding financial leverage always adds risk to both the levered company and investor. Degree of financial leverage is an important factor in determining financial risk level and it has direct effect on dividends policy, as it causes intensification of the change in earnings per share percentage because if degree of financial leverage is larger, it may be negative by slight decrease in profit before interest and taxes.
The main objectives of this research are to examine the association between financial leverage and liquidity and their impact on earnings per share and dividends yield respectively. The sample taken is 114 listed companies across different industries in Egyptian Stock Exchange for the period from year 2014 to 2019. The Ordinary Least Square regression analysis is used to find the relations between The Financial Leverage Risk (FLR) and Liquidity (LQ) as independent variables and Earnings per Share (EPS) and Dividends Yield (DY) as dependent variables for this research, using Profitability (ROE) and Industry type (IND) as control variables.
Financial leverage is fundamental as it affects a firm that needs to increase its growth opportunity, because of the need to maximize stakeholders rate of return and also because such decisions impact greatly the ability of firms to deal with the surrounding competitive financial environment. Findings indicate that according to the correlation coefficients among the research variables, both earnings per share and dividends yield are negatively strong correlated with leverage and strong positively correlated with profitability, and has insignificant negative correlated with liquidity level, at 0.05 significant level. This reveals that financial leverage and financial performance influences the dividends policy.
Nevine Sobhy Abdel Maegeid
Associate Professor of Accounting
College of Management and Technology
Arab Academy for Science, Technology and Maritime Transport
رسالة دكتوراه عن التسويق وهدف الرسالة التعرف على دور ارتباط العملاء كمتغير وسيط في العلاقة بين الكلمة المنطوقة الإلكترونية وتدعيم المربع الذهبي للتسويق في شركات تقديم خدمات الهاتف المحمول في مصر.
رسالة دكتوراه عن المرونة المالية وهدف الدراسة اختبار أثر العلاقة التفاعلية بين كلاً من المرونة المالية وإدارة رأس المال العامل على الأداء المالي للشركات المقيدة بالبورصة المصرية.
رسالة دكتوراه عن هيكل الملكية وهدف الدراسة قياس أثر التوسع في هيكل الملكية الأجنبية على تفعيل العلاقة بين سيولة الأسهم وتوقيت إصدار التقارير المالية للشركات المقيدة بالبورصة المصرية.
سجل الدخول لتتمكن من التعليق
في المحاسبين العرب، نتجاوز الأرقام لتقديم آخر الأخبار والتحليلات والمواد العلمية وفرص العمل للمحاسبين في الوطن العربي، وتعزيز مجتمع مستنير ومشارك في قطاع المحاسبة والمراجعة والضرائب.
