SIGNALING FINANCIAL RATIOS TO DIVIDEND YIELDS OF COMPANIES LISTED IN SET INDEX IN THE STOCK EXCHANGE OF THAILAND
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Introduction: As World economic volatility regime and business environment crisis, investors must seek ways to protect themselves and mitigate risks and damages that impact high sensitivity of SET. Objectives: 1. examine the relationship of monetary ratios on the dividend yield ratio and 2. Investigate influence of monetary ratios on the dividend yield ratio. Methods: A quantitative research design was employed. The population and sample consisted of companies listed in the SET Index in 2023, sourced from the SET Smart and Form 56-1 data sources. The data of 346 randomized companies were used in purposive sampling and analyzed using descriptive statistics, correlation, and multiple regression. Results: The price-to-book value ratio (P/BV) was negatively related to the dividend yield ratio (DY) with statistical significance at the level of 0.01. The total asset turnover ratio (TAT) was positively related to the dividend yield ratio (DY) with statistical significance at the level of 0.05. The return-to-asset ratio (ROA) had a positive influence on the dividend yield ratio, and the price-to-book value ratio (P/BV) exerted a statistically significant opposite influence on the dividend yield (DY) ratio at the 0.01 level. Conclusion: This research indicates useful for accurately screening dividend stocks, revealing the behavior of providing value to stocks in the market, and increasing the accuracy of the dividend yield forecasting model.
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