Research On The Influencing Factors Of GEM Company’s Cash Dividend

Cash dividend is one of the main investors get paid, but it is also important to reflect the company’s profitability and operating conditions. Factors affecting the cash dividend policy has a variety of these factors exactly what and how the degree of influence of each factor and how the impact of this circle there is no agreed conclusion. The presence of Growth Enterprise Market(GEM) dividend policy features and the motherboard market many differences in the formulation of dividend distribution policy, compared with the Main Board, GEM listed companies there are many defects. Given the current domestic research on dividend policy for the GEM is not a lot, many of the above problems still need to be answered, on the basis of domestic and foreign classical theory of dividend policy study and combing, combined with existing research results in the field, the main use empirical analysis methods to 2011-2014 GEM listed companies as sample, using descriptive statistical analysis, correlation analysis, Logistic regression and multiple linear regression analysis, conduct research, and draw the relevant conclusions on the basis of to provide basis for decision making and policy recommendations for the management of GEM listed companies and relevant government departments to adjust and dividend policy.This paper is divided into six parts, structure and main points are as follows: The first chapter is the introduction, describes the research background and significance, domestic and international literature review, research contents and methods and possible innovation;The second chapter is related to the theoretical basis, expounded connotation dividend policy, dividend payment, dividend policy and the types of traditional and modern dividend theory; the third chapter is characterized by market and cash dividend distribution GEM Situation analysis; Chapter Four factors cash dividend distribution policy analysis; fifth chapter GEM listed company’s cash dividend policy factors empirical analysis, this chapter analyzes two aspects: First, the factors influencing the cash dividend distribution tendency,the second is the impact factors of cash dividend distribution level; Chapter VI and suggestions and prospect, put forward policy recommendations, research limitations and prospects. This further study enrich the research in this field.