Payout suspensions during the Covid-19 pandemic

Davide Pettenuzzo; Riccardo Sabbatucci; Allan Timmermann

doi:10.1016/j.econlet.2023.111024

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Payout suspensions during the Covid-19 pandemic

Journal article

Open access

Peer reviewed

Payout suspensions during the Covid-19 pandemic

Davide Pettenuzzo, Riccardo Sabbatucci and Allan Timmermann

Economics Letters, Vol.224, 111024

2023-03

DOI: https://doi.org/10.1016/j.econlet.2023.111024

PMID: 36778079

Abstract

Covid-19

Dividend and buyback suspensions

Financial market distress

High frequency data

G35

We provide evidence on the unprecedented rate at which firms suspended dividend payments and share repurchases following the outbreak of the Covid-19 pandemic, compare it to the Global Financial Crisis, and estimate the amount of cash firms saved through payout suspensions.

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Details

Title: Payout suspensions during the Covid-19 pandemic
Creators: Davide Pettenuzzo - Brandeis University, International Business School, United States of America
Riccardo Sabbatucci - Stockholm School of Economics, Department of Finance
Allan Timmermann - Rady School of Management and Department of Economics, UC San Diego, United States of America
Publication Details: Economics Letters, Vol.224, 111024
Publisher: Elsevier B.V
Copyright: 2023 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/)
Academic Unit: Department of Finance; Swedish House of Finance
Language: English
Resource Type: Journal article

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Payout suspensions during the Covid-19 pandemic

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