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

Christos Ntantamis; Jun Zhou

doi:10.1016/j.frl.2022.103275

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

Christos Ntantamis, Jun Zhou

Rowe School of Business

Research output: Contribution to journal › Article › peer-review

20 Citations (Scopus)

Abstract

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.

Original language	English
Article number	103275
Journal	Finance Research Letters
Volume	50
DOIs	https://doi.org/10.1016/j.frl.2022.103275
Publication status	Published - Dec 2022

Bibliographical note

Funding Information:
The authors are grateful for comments received from three reviewers. Jun Zhou gratefully recognizes the financial support of the Rowe Research Grant provided by Dalhousie University.

Publisher Copyright:
© 2022

ASJC Scopus Subject Areas

Finance

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

Abstract

Bibliographical note

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PubMed: MeSH publication types

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