The Effect of Corporate Governance toward Dividend Payout Ratio

Pupose: The existence of market uncertainty can increase agency problems that raise doubts about future cash flows, such as dividend payments. This study aims to analyze the effect corporate governance proportion female commissioners, independent board size, independence, meeting, and audit committee size towards a payout ratio.
 Method:The sample this research is manufacturing sector companies listed on Indonesia Stock Exchange (ISE) Thailand (TSE). company should have published financial reports been audited regularly during period, has no negative retained earnings. uses quantitative approach with two least square regression analysis models.
 Result: observations ISE shows commissioners significant positive ratio. result because take control minority shareholders by making larger payments members monitor more effectively opportunistic behavior. However, independence meeting significantly adversely affect ratio, frequent meetings use dividends substitute role in reducing so payment will be below. TSE positively affects adverse tends reduce costs, using