Factors Influencing the Dividend Policy of Vietnamese Enterprises
Abstract
The article explores the factors affecting company’s dividend policy such as profitability, firm size, financial leverage and growth rate. Data is collected from enterprises listed on the Vietnam securities market in the period of 2006 - 2017 with 2,150 observations. Using the Generalized Least Squares (GLS), the authors have identified two factors that have a positive and significant effect: (i) return on total assets and (ii) firm size. At the same time, research results also show a negative impact of enterprise’s revenue growth rate on the dividend payment ratio. In addition, financial leverage has no impact on company’s dividend policy.
Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.
Copyrights for articles published in MTI journals are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.
