Dividend policy and earnings quality in Vietnam
Purpose The purpose of this paper is to examine the relationship between dividend policy and earnings quality of Vietnamese listed firms. Design/methodology/approach The sample includes firms listed on Vietnam stock exchange during...
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University of Economics Ho Chi Minh City
2023
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| Truy cập trực tuyến: | https://www.emerald.com/insight/content/doi/10.1108/JABES-07-2018-0047/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115413 |
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oai:scholar.dlu.edu.vn:DLU123456789-1154132023-03-08T03:56:02Z Dividend policy and earnings quality in Vietnam Nguyen, Trang Thi Ngoc Bui, Phuong Kim Purpose The purpose of this paper is to examine the relationship between dividend policy and earnings quality of Vietnamese listed firms. Design/methodology/approach The sample includes firms listed on Vietnam stock exchange during the period between 2010 and 2016. Two measures of earnings quality are the annual firm-specific absolute value of residuals from Dechow and Dichev’s (2002) model and from Dechow and Dichev (2002) as modified by McNichols’s (2002) model. The firms’ dividend policy is captured by dividend paying status. This is a dummy variable that takes the value of 1 if the firm pays dividends and 0 otherwise. In addition, dividend yield and dividend payout ratio, which are continuous variables, are also used in this paper as alternative proxies for dividend policy. Findings Using panel data analysis, this paper documents that dividend payers have higher earnings quality than dividend non-payers. Dividends are an indicator of earnings quality. These findings are consistent with prior studies. After controlling for variables that may be related to earnings quality as well as for the year and industry fixed effects, this relation remains unchanged. In addition, this result is also robust after controlling for firm fixed effects. Originality/value This paper offers the empirical evidence on the relation between dividend policy and earnings quality in Vietnam, which is a frontier market. 2023-03-08T03:56:01Z 2023-03-08T03:56:01Z 2019 Article 2515-964X https://www.emerald.com/insight/content/doi/10.1108/JABES-07-2018-0047/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115413 10.1108/JABES-07-2018-0047 en Journal of Asian Business and Economic Studies, Volume 26, Issue 2; p. 301-312 application/pdf University of Economics Ho Chi Minh City |
| institution |
Thư viện Trường Đại học Đà Lạt |
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Thư viện số |
| language |
English |
| description |
Purpose The purpose of this paper is to examine the relationship between dividend policy and earnings quality of Vietnamese listed firms. Design/methodology/approach The sample includes firms listed on Vietnam stock exchange during the period between 2010 and 2016. Two measures of earnings quality are the annual firm-specific absolute value of residuals from Dechow and Dichev’s (2002) model and from Dechow and Dichev (2002) as modified by McNichols’s (2002) model. The firms’ dividend policy is captured by dividend paying status. This is a dummy variable that takes the value of 1 if the firm pays dividends and 0 otherwise. In addition, dividend yield and dividend payout ratio, which are continuous variables, are also used in this paper as alternative proxies for dividend policy. Findings Using panel data analysis, this paper documents that dividend payers have higher earnings quality than dividend non-payers. Dividends are an indicator of earnings quality. These findings are consistent with prior studies. After controlling for variables that may be related to earnings quality as well as for the year and industry fixed effects, this relation remains unchanged. In addition, this result is also robust after controlling for firm fixed effects. Originality/value This paper offers the empirical evidence on the relation between dividend policy and earnings quality in Vietnam, which is a frontier market. |
| format |
Article |
| author |
Nguyen, Trang Thi Ngoc Bui, Phuong Kim |
| spellingShingle |
Nguyen, Trang Thi Ngoc Bui, Phuong Kim Dividend policy and earnings quality in Vietnam |
| author_facet |
Nguyen, Trang Thi Ngoc Bui, Phuong Kim |
| author_sort |
Nguyen, Trang Thi Ngoc |
| title |
Dividend policy and earnings quality in Vietnam |
| title_short |
Dividend policy and earnings quality in Vietnam |
| title_full |
Dividend policy and earnings quality in Vietnam |
| title_fullStr |
Dividend policy and earnings quality in Vietnam |
| title_full_unstemmed |
Dividend policy and earnings quality in Vietnam |
| title_sort |
dividend policy and earnings quality in vietnam |
| publisher |
University of Economics Ho Chi Minh City |
| publishDate |
2023 |
| url |
https://www.emerald.com/insight/content/doi/10.1108/JABES-07-2018-0047/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115413 |
| _version_ |
1765278018688778240 |