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Impact of Dividend Policy on Corporate Value: Experiment in Vietnam
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The paper examines the impact of dividend policy on corporate value. Data collection is the result of listed companies on the Vietnamese stock market in the period of 2006 - 2017 with 2,278 observations. Using the General Least Square (GLS) approach, the authors have identified three factors that have a positive and significant impact on corporate value: dividend payout, profitability, and corporate sizes; and one factor which has a negative impact on corporate value is the degree of financial leverage. The study found that dividend policy has a significant impact on the corporate value of companies that implement a higher dividend payout policy. |