| dc.description.abstract | Firstly, the study is aimed to test the impacts of board characteristics on dividend payout policy of non –financial listed company in Ho Chi Minh Stock Exchange (HOSE). To be specific, it is to clarify the influence of board size, board non-executive directors, CEO duality and woman in board on dividend payout. Moreover, control variables such as firm size, firm’s profitability and leverage added to check the correlation that affect dividend payout policy of non-financial listed firm in HOSE.
Secondly, the research used panel data of 460 observations which is 92 companies over the period of five years from 2011 to 2015. Also, the data is collected from company’s annual reports and Stata Analysis is a technique to run the study regression model. The disclosure policy of financial institution or insurance company is strict, hence, this thesis just collect data of non-financial corporates.
Finally, The outcome of study support the research of Subramaniam et al, (2010), Musa Shehu (2013, 2015) but contrary with the result of Mansourinia et al (2013) that board size, board non-executive directors have significant influence and other variables impact insignificantly on dividend payout policy. This result can be used as a guidance reference for academic field, future researches, policy makers, individual investors, managers also to understand the relationship between variables. Moreover, it supports to build strong corporate governance policy to reduce maximum agency cost. | en_US |
