The factors affecting the dividend payout ratio of industry companies on the Ho Chi Minh City Stock Exchange

Abstract

The objective is to consider the factors affecting the dividend policy of industry companies. The study uses data from 39 industry companies listed on the Ho Chi Minh Stock Exchange (HOSE) for 12 years continuously from 2009 to 2020. The data includes 468 observations (39 companies * 12) collected from audited financial statements of industry companies. The study uses regression methods of panel data POOL, FEM, REM, and FGLS to analyze data and test the research model. The analysis results by the FGLS method show that, 05 of 08 independent variables affect the dividend payout ratio of industry companies. Based on the research results, some governance implications are proposed to increase dividend payouts to shareholders and ensure efficient corporate operations.