الازمة المالية وانعكاساتها في سياسة توزيعات الارباح ( دراسة تطبيقية )

The purpose of this study is to search in the international financial crisis and its reflections in the dividends policies for a sample of listed companies in Dubai Financial Market. The study launched from the cognitive dimensions for the two concepts of the financial crisis and the dividends policies to show the dependence or the change of the followed policies of dividend of the companies before the occurrence of the financial crisis which stormed the international financial markets and shifted to the other markets such as the evolving markets and to the markets of Arab Gulf countries, especially Dubai Financial Market, because of the importance of dividend policies, since they are the most important financial decisions as a source of internal financing for the firms and return on investment of the shareholders from one side, and their reflections on the prices of the shares in the financial markets from the other side. The study summarized a set of conclusions, which was the most important one is the consistence of the analysis findings and the test of the main first and second hypotheses, whereas the study confirmed the mistakenness of the third hypothesis, the most important recommendation is that the companies’ management should not resort to reserve the profits excessively as a source of financing in the light of the financial crisis which would affect negatively the prices of shares of such companies in the financial market