Determinant of Dividend Payout: Evidence from the Rajavithi Hospital Saving and Credit Cooperative Limited
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Published:
Jul 27, 2021
Keywords:
Saving and Credit Cooperative Dividend yield Profitability Ratio Liquidity Ratio
Main Article Content
Abstract
The study attempted to determine the effect of profitability and liquidity on the dividend yield of Rajavithi Hospital Saving and Credit Cooperative Limited. The study applied a multiple linear regression model where the return on total assets ratio and the return on equity ratio were the proxies for profitability, and the current ratio was used as the proxy for liquidity management. The study used financial statement data from the period of 2010–2019. The results revealed that the profitability and liquidity management significantly positively influenced the dividend yield. The findings also noted that a dividend yield is affected more strongly by profitability management.
Article Details
How to Cite
จันทร์โถ พ., & พจน์วาที ศ. . (2021). Determinant of Dividend Payout: Evidence from the Rajavithi Hospital Saving and Credit Cooperative Limited. Kasetsart Applied Business Journal, 15(22), 73–86. https://doi.org/10.14456/kab.2021.4
Section
Research article
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References
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Shibutse, R., Kalunda, E., & Achoki, G. (2019). Effect of liquidity and dividend payout on financial performance of deposit taking SACCOs in Kenya. Integrated Journal of Business and Economics, 3(3), 297-312.
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Wangui, M. M., & Muturi, W. (2016). Financial factors affecting performance of deposit taking savings and credit co-operative societies in Kenya: A case of kiambu county. International Journal of Social Sciences and Information Technology, 2(9), 1163-1179.
Yasin, A. B. M., Muhammad, N. A., Nafi, M. N. A., Rahman, A. A., Kairan, O., & Noor, M. R. M. (2017). Factors affecting dividend payments in the consumer products sector of Malaysia. Paper presented at the International Conference on Governance, Management and Social Innovation., Kota Bharu, Kelantan, Malaysia.
Cooperative Auditing Department. (2005). Camels analysis for cooperation and farmers group. Bangkok: Airborne Print.
Cooperative Promotion Departmen. (2562). Information and communication technology center. Retrieved from http://office.cpd.go.th/itc/index.php
Cooperative Promotion Department. (2553). Registrar and law office. Retrieved from http://office.cpd.go.th/rlo/
Fitri, R. R., Hosen, M. N., & Muhari, S. (2016). Analysis of factors that impact dividend payout ratio on listed companies at Jakarta Islamic Index. International Journal of Academic Research in Accounting, Finance and Management Sciences, 6(2), 87-97.
Gordon, M. J. (1959). Dividends, earnings, and stock prices. The review of economics and statistics, 41(2), 99-105.
Lintner, J. (1962). Dividends, earnings, leverage, stock prices and the supply of capital to corporations. The review of economics and statistics, 44(3), 243-269.
Litzenberger, R. H., & Ramaswamy, K. (1979). The effect of personal taxes and dividends on capital asset prices: Theory and empirical evidence. Journal of financial economics, 7(2), 163-195.
Mamaro, L. P., & Tjano, R. (2019). The relationship between dividend payout and financial performance: evidence from top40 JSE firms. The Journal of Accounting and Management, 9(2), 5-19.
Mananta, I. G. (2019). Pengaruh net profit margin, debt to equity ratio, dan firm size terhadap kebijakan dividend payout ratio pada perusahaan yang terdaftar di bursa efek Indonesia. Jurnal Manajemen Bisnis dan Kewirausahaan, 3(6), 07-11.
Miller, M. H., & Modigliani, F. (1961). Dividend policy, growth, and the valuation of shares. The Journal of Business, 34(4), 411-433.
Noordin, N., Rajaratnam, S., Said, S., Mohd Hanif, F., & Juhan, R. (2012). Dividend and profit allocation practices of performing cooperatives in Malaysia. Oñati Socio-Legal Series, 2(2), 156-176.
Pattiruhu, J. R., & Paais, M. (2020). Effect of liquidity, profitability, leverage, and firm size on dividend policy. The Journal of Asian Finance, Economics and Business, 7(10), 35-42.
Pearson, K. (1895). The royal society. proceedings of the royal society of London, 58(347-352), 240-242.
Pitipunya, R. (2014). Saving and credit cooperative : Economic and social development. Bangkok: Aksornsaim.
Ross, S. A., Westerfield, R. W., & Jordan, B. D. (2018). Fundamentals of corporate finance (8 ed.). Bangkok: McGraw-Hill.
Shibutse, R., Kalunda, E., & Achoki, G. (2019). Effect of liquidity and dividend payout on financial performance of deposit taking SACCOs in Kenya. Integrated Journal of Business and Economics, 3(3), 297-312.
Thafani, A., & Abdullah, M. (2014). Impact of dividend payout on corporate profitability: evident from Colombo stock exchange. Advances in Economics and Business Management, 1(1), 27-33.
The Revenue Department. (2556). Personal income tax. Retrieved from https://www.rd.go.th/m/309.0.html
Wangui, M. M., & Muturi, W. (2016). Financial factors affecting performance of deposit taking savings and credit co-operative societies in Kenya: A case of kiambu county. International Journal of Social Sciences and Information Technology, 2(9), 1163-1179.
Yasin, A. B. M., Muhammad, N. A., Nafi, M. N. A., Rahman, A. A., Kairan, O., & Noor, M. R. M. (2017). Factors affecting dividend payments in the consumer products sector of Malaysia. Paper presented at the International Conference on Governance, Management and Social Innovation., Kota Bharu, Kelantan, Malaysia.
