Determination of Dividend Policy to Increase Firm Value -

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Published: Jun 27, 2023
Keywords:
Dividend Policy Dividend Payment The Stock Exchange of Thailand

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Chosita Pestonji
Rajamangala University of Technology Isan
Thanapin Attarit
Rajamangala University of Technology Isan.

Abstract

This study aimed to investigate determining dividend policy to increase firm value through: 1) studying factors affecting dividend policy and 2) studying dividend policy effect on
a firm value. Secondary data from 474 companies listed on the Stock Exchange of Thailand.
The hypothesis was subsequently tested with multiple regression analysis and simple linear regression analysis. The data analysis revealed that the factors determining dividend policy in companies listed on the Stock Exchange of Thailand consist of: profitability, firm risk, investment opportunity and financial leverage. Businesses with high profitability and high investment opportunity resulted in a policy that paid high dividends. Meanwhile, low risk and low financial leverage resulted in a policy that pays high dividends. In addition, the study found that when a company had a dividend policy that paid high dividends, it would result in higher firm value.

Article Details

How to Cite
Pestonji, C., & Attarit, T. . (2023). Determination of Dividend Policy to Increase Firm Value: -. Journal of Management Science Chiangrai Rajabhat University, 18(1), 1–24. Retrieved from https://so03.tci-thaijo.org/index.php/jmscrru/article/view/263289
Issue
Vol. 18 No. 1 (2023): January - June, 2023
Section
Research Articles
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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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Author Biographies

Chosita Pestonji, Rajamangala University of Technology Isan

Ph.D. (Management), Suranaree University of Technology (2019). Currently as Lecturer in Faculty of Business Administration, Rajamangala University of Technology Isan.

Thanapin Attarit, Rajamangala University of Technology Isan.

Ph.D. (Accounting), Rajamangala University of Technology Thanyaburi (2017). Currently as Assistant Professor in Faculty of Business Administration, Rajamangala University of Technology Isan.

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