Assessing the impact of firm maturity and financial leverage on dividend policy: A case in the publicly-listed firms from the manufacturing and telecommunication industry of the ASEAN five
Date of Publication
2015
Document Type
Bachelor's Thesis
Degree Name
Bachelor of Science in Management of Financial Institutions
College
Ramon V. Del Rosario College of Business
Department/Unit
Financial Management
Thesis Adviser
Joseph Vincent David
Defense Panel Member
Rene Betita
Dan Robert Roces
Ruben Carlo Asuncion
Abstract/Summary
Dividend policy has stood to play an important role for firms, where it served as a tool to relay information to investors and stakeholders regarding a firm's value and performance. As of the present, there has been limited literature studying the determinants of dividend policies and its impact in the ASEAN-5. Using panel regression, this paper aims to determine the impact of firm maturity and financial leverage on dividend policy in the manufacturing and telecommunication industry of the ASEAN-5 countries and the ASEAN, as an integrated economy, through the years 2009-2013. The findings of this study suggest that firm age is irrelevant and not substantial in determining dividend policy in all ASEAN-5 countries, while financial leverage is only negatively significant as a determinant for dividend policy in Thailand and Indonesia. Furthermore, empirical evidence on the ASEAN, as an integrated economy, suggests that there exists a significant negative impact on dividend payouts only at a certain business cycle of a firm where there is tight rivalry. Moreover, financial leverage in the ASEAN was also found to be significantly negative in determining the dividend policy.
Abstract Format
html
Language
English
Format
Accession Number
TU21666
Shelf Location
Archives, The Learning Commons, 12F, Henry Sy Sr. Hall
Physical Description
137 leaves ; 28 cm.
Keywords
Financial leverage--Philippines; Dividends--Philippines
Recommended Citation
Castilo, M. S., Hung, C. P., Maristela, A. J., & Sulit, M. D. (2015). Assessing the impact of firm maturity and financial leverage on dividend policy: A case in the publicly-listed firms from the manufacturing and telecommunication industry of the ASEAN five. Retrieved from https://animorepository.dlsu.edu.ph/etd_bachelors/7693
