The Impact Of Cash Dividend Policy Of Chinese Listing Corporations On Corporate Value

The dividend puzzle has been there for decades,and we still have no conclusion aboutit.Dividend policy plays an important role in balancing the finance and investment of thecorporation.On the one hand,dividend policy should consider the reasonable capitalstructure of the company and expanded reproduction also needs capital.On the otherhand,dividend policy should meet the interests of investors.So,the managers of the listedcorporation are difficult to make an appropriate dividend policy.Different people havedifferent views on the cash dividend and stock dividend,and there’re a lot of scholarsdiscussed different methods of it.The listed corporation must have a regular cash dividendto meet the national regulatory’s requirements,and they also need to payout sufficient profitto investors.Could the listed corporation enhance corporate value by paying cashdividend?Therefore,we discuss that the relationship of cash dividend policy and thecorporate value.If cash dividend policy can impact on the corporate value actively,thenwhat measures do companies to take?This paper presents the effects of cash dividendscoupling on corporate value.I make use of descriptive statistics analysis and multiple linearregression model to research them.After the empirical analysis,we found that the industrydifferences in the cash dividends of listed companies is not a common phenomenon,andwhether to pay cash dividends of listed companies,the dividend payment rate negativelycorrelated with the corporate value in the context of economic recovery.