Ownership Structure and Dividend Policy of Vietnamese Enterprises after the Global Financial Crisis

The paper examines the impact of ownership structure on the dividend policy of listed companies in the Vietnam stock market after the global financial crisis. The sample uses panel data including 91 corporates listed on the Ho Chi Minh City Stock Exchange (HOSE) for 2009-2015. The results of the study show that public ownership and domestic private ownership are positive correlated with dividend payout ratio, while the effect of foreign ownership on dividend policy is not significant. This result could provide an important implication on the orientation of restructuring state-owned enterprises and attracting foreign investment in Vietnam stock market in the future.