Скачать или смотреть High Dividends, Lower Drama (My Paper): Building a Stable Portfolio & Sleep Better During Sell-Offs!

This video breaks down my Hong Kong stock market study on how dividend policy may be linked to lower share price volatility—what I call “The Dividend Calm Effect.”

Using a panel dataset of 354 non-financial HKEX-listed companies over 2001–2020 (6,983 firm-year observations), my paper tests whether dividend policy—measured by Dividend Yield (DY) and Dividend Payout Ratio (DPR)—is associated with the volatility of common stock prices (PVOL). The key finding: higher DY and higher DPR are statistically and negatively associated with stock price volatility in Hong Kong (with supporting panel regression results).

I also cover how other factors behaved in the study, including:

Firm size (SIZE): larger firms tend to have lower volatility
Earnings volatility (EV): higher earnings volatility tends to be linked to higher stock volatility
Leverage (LEV) & Asset growth (GRO): not significant in the main fixed-effects model

Read the full paper (made by me) on Preprints.org:
https://doi.org/10.20944/preprints202202.0...

Important: This paper is a preprint (not peer-reviewed). This video is for research and informational purposes only and does not constitute investment advice. Always do your own research and consider your risk tolerance.