This research studies the relationships between dividend payment and the market value of listed firms in the food and drink industry in the period 2010 to 2014 in Vietnam. The research finds empirically applicable factors in corporate finance and the management of stock listings in the stock exchange. | VNU Journal of Science: Economics and Business, Vol. 32, No. 2 (2016) 47-57 Financial Performance, Dividend Payment and Firm Value An Exploratory Research on Vietnam Listed Firms in the Food and Drink Industry Ngo Thu Giang*, Dang Anh Tuan School of Economics and Management, Hanoi University of Science and Technology, 1 Dai Co Viet, Hanoi, Vietnam Abstract This research studies the relationships between dividend payment and the market value of listed firms in the food and drink industry in the period 2010 to 2014 in Vietnam. The research finds empirically applicable factors in corporate finance and the management of stock listings in the stock exchange. The research develops an exploratory model reflecting the market value of the firms in the food and drink industry in the Vietnamese stock market in relation to their financial performance and dividend payments. The research also finds that in the food and drink industry in Vietnam, firms will be more attractive in the stock exchange if they pay dividends in cash, achieve high gross margins, and mobilize a low debt ratio at a low mobilization cost. Received 16 February 2016, revised 9 June 2016, accepted 28 June 2016 Keywords: Financial performance, dividend payment, market value, listed firm, beverage and food industry, Vietnamese stock exchange. 1. Introduction * strategies, managerial countermeasures and investor relation policies. In terms of financial management, we would like to know what the role of financial management is in drawing the attention of investors and how it can do that. To answer these questions, the research reviews theoretical frameworks to develop measuring criteria for financial activities. The research also studies previous researches to find out the current status of studies on financial performance in general, and dividend payment in particular, and their impacts on the market value of firms in stock exchanges. Practically, based on what is achieved by reviewing theoretical frameworks
