Research On Motivation And Financial Impact Of LS Company’s Excess Dividend

Before 2000,China’s capital market lacked dividend atmosphere,and the listed companies had a weak sense of return to investors.The number of listed companies paying dividends in cash was small,and the number of tierooster companies was large.In order to improve the phenomenon of low dividend payment rate and unstable cash dividend in China’s capital market,the CSRC has successively issued a series of semi-compulsory dividend policy which links cash dividend with refinancing qualification after 2000.The situation that the cash dividend of listed company is not positive has been improved,but appeared the super ability that listed company ignores oneself actual operating condition and cash flow to send present for.Super power distribution is often considered as a tool for controlling shareholders to encroach on the interests of small and medium shareholders and deliver benefits.In view of this,this article expounds the related theory and combed and summarized the literature of super ability to send now,with the LS company as the research object,its since the listing is super ability group motivation and financial impact analysis,obtained the following results:(1)the LS company has passed the motive powers sent now good reputation,fast recovery IPO financing,big shareholders transfer,achieve refinancing threshold;(2)in this paper,the excess yield index was used to study the market reaction of LS company’s super power payout.The event of super power payout caused negative market reaction,and investors did not recognize the current trend of super power payout.(3)super power distribution now has a negative impact on the financial performance of the enterprise,and super power has a negative impact on the enterprise value.Finally,according to the research results,this paper gives corresponding Suggestions and countermeasures,hoping to provide some reference for relevant supervision departments to formulate and improve the cash dividend policy,so as to promote the healthy operation of China’s capital market.