دراسة تأثير تداول الأسهم على الأداء المالي للشركات المدرجة في البورصة (حالة شركة المراعي السعودية)

Abstract

This study aims to analyze the impact of stock trading on the financial performance of Almarai Company in Saudi Arabia during the period from 2007 to 2024, using the Autoregressive Distributed Lag (ARDL) model to measure the relationship between the variables under study. Three indicators were used to measure stock trading: trading volume (VOL), trading value (VAL), and turnover rate (TURN), while financial performance was measured by return on assets (ROA) and return on equity (ROE). The results of the study showed a positive and statistically significant long-term relationship between stock trading and Almarai’s financial performance. It was found that both trading value and turnover rate have a significant and positive effect on both ROA and ROE. This indicates that increased trading activity reflects investors’ confidence in the company’s performance and contributes to enhancing its financial performance in the long run. In the short term, the results revealed varying and less stable effects, indicating that short-term fluctuations in trading are insufficient to improve performance unless they are sustained. Based on these results, the study recommends enhancing transparency and financial disclosure, encouraging institutional trading, and expanding communication channels with investors to stimulate activity in the stock market. It also calls for the adoption of trading indicators as supportive tools in financial planning, and conducting future studies on different companies and sectors to support strategic decisions in the Saudi financial market