Earticle

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In this paper, we examine the impact of government ownership on dividend policy in case of Viet Nam and Taiwan. We find a strong evidence that government ownership has a positive impact on dividend payout in both countries. Additionally, firms with government ownership tend to pay higher dividend than firms without government ownership. Our findings suggest that the impacts of government ownership on dividend policy in both countries can be explained by the substitute hypothesis of agency theory (La Porta, 2000). We also discover that firms with government ownership in both countries pay higher dividend than the firms without government ownership.

목차

Abstract
 I. INTRODUCTION
 II. LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT
  1. Literature review
  2. Hypothesis Development
 III. SAMPLE AND DESCRIPTIVE STATISTICS
  1. Sample
  2. Variables
  3. Descriptive Statistics
 IV. EMPIRICAL RESEARCH
  1. The relationship between government ownership and dividend payout
  2. Firms with government ownership pay higher dividend than firms with non-governmentownership
  3. Additional tests
  4. Comparison with Taiwan
 V. CONCLUSION
 REFERENCES

키워드

저자

• Hang Thi Thuy Pham [ Doctoral Student, College of Business Administration, Chonnam National University ] First Author
• Sung-Chang Jung [ College of Business Administration, Chonnam National University ] Corresponding Author
• Hang Thi Dieu Nguyen [ Master Student, College of Management, Yuan Ze University, Taiwan ]

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  한국재무학회 학술대회

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  2006~2024

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  KDC 325 DDC 330