The relationship between managerial ownership and dividend payout policy on the industrial firms listed on the Philippine Stock Exchange

• Main Authors: Cai, Annie, Gercio, Opalyne Kate, Ong, Jessalin Raizel, Villas, Siovan Kristalie
• Format: text
• Language: English
• Published: Animo Repository 2012
• Subjects: Dividends > Philippines; Corporations > Finance; Finance and Financial Management
• Online Access: https://animorepository.dlsu.edu.ph/etd_bachelors/18484
• Institution: De La Salle University

This paper studied the relationship between managerial ownership and dividend payout policy of industrial firms listed on the Philippine Stock Exchange. Control variables which are size, leverage, market-to-book ratio and free cash flow were also added aside from the earnings and managerial ownership to account for other factors affecting dividend payout. Four models were used to determine the relation of the variables by using fixed effects estimation. The results showed that managerial ownership has no significant relationship with dividends. Size, leverage, market-to-book ratio and free cash flow also did not yeiled a significant relationship with dividends.