TAILIEUCHUNG - Dividend policy and share price volatility: empirical evidence from Vietnam

This paper was conducted to examine the relationship between dividend policy and share price volatility of companies listed on Hochiminh Stock Exchange (HOSE) in Vietnam. Data set used in this research was compiled from financial statements of 260 listed firms on HOSE from 2009 to 2018. | Dividend policy and share price volatility empirical evidence from Vietnam Accounting 6 2020 67 78 Contents lists available at GrowingScience Accounting homepage ac Dividend policy and share price volatility empirical evidence from Vietnam Thanh Hieu Nguyena Huu Anh Nguyena Quang Chung Trana and Quynh Lien Lea aNational Economics University Vietnam CHRONICLE ABSTRACT Article history This paper was conducted to examine the relationship between dividend policy and share price volatility of Received November 25 2019 companies listed on Hochiminh Stock Exchange HOSE in Vietnam. Data set used in this research was compiled Received in revised format from financial statements of 260 listed firms on HOSE from 2009 to 2018. Three statistical approaches employed November 26 2019 to address econometrics issues as well as to improve the accuracy of the regression coefficients like fixed effects Accepted December 20 2019 model FEM random effects model REM and general method of movement GMM . Based on the results from Available online GMM the association between share price volatility and dividend yield dividend payout ratio has been explored. December 25 2019 The findings show a positive relationship between dividend yield and stock price volatilities and a negative Keywords relationship between dividend payout ratio and stock price volatility. In addition it is found that a firm s growth Dividend rate leverage and earnings volatility had positive influences on share price volatility while firm s size had negative Firm effect on share price volatility. Growth rate Investor Manager Volatility 2020 by the authors licensee Growing Science Canada 1. Introduction Stock price volatility is a change in the price of a stock relative to its average value. It also used to define the risk of a common stock whereby the greater the volatility of a common stock the greater its risk. From an investor s viewpoint understanding share price volatility is crucial.

• Kế toán - Kiểm toán
• Dividend policy and share price volatility
• Hochiminh Stock Exchange
• Fixed effects model
• Random effects model
• General method of movement
• Dividend policy
• Dividend yield
• Insurance companies
• Payout ratio
• Share price volatility