Những nhân tố tác động đến vấn đề làm trơn cổ tức của các doanh nghiệp Việt Nam
DOI:
https://doi.org/10.24311/jabes/2016.27.4.800Keywords:
Dividend smoothing, Lintner's regression, dividend tax rateAbstract
This article attempts to investigate whether Vietnamese firms are displaying their dividend smoothing behaviors and which factors affect these based on Lintner's regression, Pooled OLS, and stepwise regression techniques applied to a sample of 115 listed firms on HOSE and HNX, together with the data collated from financial statements and annual reports of these firms during 2009-2013. Using other necessary tests and approaches, we figure out one optimal model to address this issue in the Vietnam's market, verifying that Vietnamese enterprises on the two stock exchanges do engage in dividend smoothing and that a few major determinants comprise firm size, firm age, level of ownership of the largest shareholder, growth rate, interest rate, and dividend tax rate
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