| dc.description.abstract | The determinants of the dividend payout ratio may be one of the most contentious issues of corporate finance and several scholars have often regarded this as an unanswered mystery. A lot of work has been conducted, but it is still difficult to discuss the determinants of the dividend distribution ratio in definite terms. Dividend awareness enhances dividend payment projections and the selection of appropriate assessment models, thus increasing investor confidence and boosting market activity and economic growth. Thus, this research explores the drivers of dividend payment strategy, examining the actions of 577 non-financial businesses in four developing ASEAN markets between 2009 and 2017. Through analyzing the effect of determinants on dividend payment decisions using the Fixed Effects Model, the findings demonstrate that the dividend compensation is optimistic with the growth rate of GDP. Profitability, corporate size and stock market returns have an adverse effect on the payment of dividends. Other factors, including financial leverage, free cash flow, liquidity, growth opportunities, investment and inflation, have little or nothing to do with decisions on dividend payouts. | en_US |
