The Relationship between Ownership Structure and Dividend Policy of Listed Companies on The Stock Exchange of Thailand
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Abstract
This research aimed to study the relationship between shareholding structure and dividend policy of listed companies on the Stock Exchange of Thailand. It was a quantitative research, the sample group used in this study was all companies listed on the Stock Exchange of Thailand Index, SET 50, except for financial institutions, namely commercial banks finance and securities group and insurance companies and life insurance companies. The sample used must be complete and continuous the study period is from 2017 to 2019, totaling 3 years, 99 samples the tools used for the collection are information on shareholder structure, namely the top 5 major shareholder ratios and the company's dividend policy which data is collected from the annual report and the annual report of each company collection of information on the website of the securities and exchange commission and research documents related to shareholder structure and dividend payment policy of listed companies on the Stock Exchange of Thailand. The data were analyzed by descriptive statistics analysis and inferential statistics analysis. The research results were found as follows: 1) Shareholder structure had a negative correlation with dividend payment policy; 2) Equity yield was positively correlated with dividend policy; and 3) Debt to equity ratio had a negative correlation with dividend policy.
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