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Determinants of Dividend Policy of the Listed Companies in the Automotive, Food and Beverage and Telecommunication Sectors in the Stock Exchange of Thailand

by K. Jaturongkachoke; S. Saengtewaporn; P. Songvichaipolakul; P. Sethjinda

Title:

Determinants of Dividend Policy of the Listed Companies in the Automotive, Food and Beverage and Telecommunication Sectors in the Stock Exchange of Thailand

Author(s):

K. Jaturongkachoke
S. Saengtewaporn
P. Songvichaipolakul
P. Sethjinda

Issued date:

2018-05-25

Citation:

International Conference on Entrepreneurship and Sustainability in the Digital Era ICESDE 2018 Assumption University of Thailand May 25, 2018

Abstract:

This research compared the determinants of dividend policy among listed companies in Automotive, Food and Beverage and Telecommunication sectors in the Stock Exchange of Thailand )SET .(It studied the relationship among Return on Equity )ROE(, Net Income, Return on Asset )ROA(, Stock Price, Debt to Equity Ratio) D/E(, Operating Cash Flow, Return on Investment )ROI(, Price per Book Value) P/BV(, Earning per Share )EPS(, Sales on Dividend per Share. The statistical analysis was performed using fixed effect panel data regression model on 59 listed companies from three sectors during 2011-2015. The results showed that determinants of dividend vary among the three sectors. Return on Assets )ROA) showed positive and statistically significant realtionship with dividend policy in Automotive and Food and Beverage sectors, while Price to Book Value influenced the dividend policy in Automotive and Telecommunication sectors. Return on Equity (ROE), Return on Investment (ROI) have been shown to influence the dividend policy in Food and Beverage and Telecommunication sectors. Industry specific factors include Net Income and Price for Automotive sector, Earning per Share for Food and Beverage and Operating Cash Flow for Telecommunication sector. The study contributed to better understanding of key determinants of dividend policy in three key sectors of the Stock Exchange of Thailand. Crosssectional analysis could be conducted whether there existed sector specific factors influencing the dividend policy, and whether the results were consistent across other emerging markets.

Keyword(s):

Determinants of dividend policy
Return on equity
Return on assets
Earnings per share
Dividend per share
Return on investment

Resource type:

Conference Paper

Extent:

1 page

Type:

Text

File type:

application/pdf

Language:

eng

Rights:

This work is protected by copyright. Reproduction or distribution of the work in any format is prohibited without written permission of the copyright owner.

Rights holder(s):

Assumption University

URI:

http://repository.au.edu/handle/6623004553/21157
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Copyright © Assumption University.
All Rights Reserved.

Contact Us

The St. Gabriel's Library   
Hua Mak Campus  
Ramkhamhaeng 24, Hua Mak  
Bangkok Thailand 10240  
Tel.: (662) 3004543-62 Ext. 3402  
Fax.: (662) 7191544  
E-Mail Library : library@au.edu  


The Cathedral of Learning Library
Suvarnabhumi Campus
Bang Na-Trad Km. 26 Bangsaothong
Samuthprakarn Thailand 10540
Tel.: (662) 7232024, 7232025
Fax.: (662) 7191544
E-Mail Library : library@au.edu
 

 

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