الفهرس 
The Moderating Effect of Firm Performance on the Association between Dividend Policy and Firm Growth: An Empirical Study
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Abstract
This study mainly aims to investigate the association between dividend policy and firm growth. Moreover, it investigates the moderating effect of firm’s profitability, leverage, and liquidity on the association between dividend policy and firm growth. This research analyzes the data of 96 firms listed in the Egyptian Stock Exchange (EGX) covering the period from 2013 to 2019. Sales Growth is used as a proxy for Firm Growth. Also, the researcher employs Assets Growth as robustness check to confirm the concluded findings. In addition, Return on Assets, Average Total Liabilities to Average Total Assets and Quick Ratio are used to investigate the moderating effect of firm’s profitability, leverage and liquidity on the association between dividend policy and firm growth The results show that: first, there is a significant association between dividend policy and firm growth and this association is supported by all research models except the model that investigates the liquidity effect as a moderating variable. Second, there is a moderating effect of profitability and leverage on the association between dividend policy and firm growth but, liquidity does not moderate this association