Volume 2 • Issue 1 | March, 2018
The Effect of Firm Life Cycle to Dividend Policy of Listed Firms in Vietnam
Bui Kim Phuong
Abstract:
This study examines whether the firm life-cycle affects dividend policies of non-financial firms listed on the Vietnamese stock market between 2008 and 2016. Using the Tobit regression model for panel data, this study shows positive effect of the firm life-cycle on the firm’s dividend policy. This result persists even after the author controlled other factors that are deemed to affect firm’s dividend policy. These factors include profitability, investment opportunities, firm size, stock liquidity and cash holdings.