The Cash Dividend Policy On The Board Of Directors Research On The Influence Of Company Performance

Dividend policy is one of the important aspects of business management operations,the cash dividend is an important part of the dividend distribution, may represent a real business out of the profits, affect the company's performance. Appropriate dividend policy has played an active role in the health of the enterprise operation, to find an appropriate dividend policy for enterprise development and therefore essential. Due to the perspective on the causes, research environment, research conditions have been many studies on the relationship between the cash dividend policy and corporate performance, obtained different conclusions. This article from the perspective of the board of directors investigate the effects of heterogeneity cash dividend policy on corporate performance. This paper selects CSI 300 as a sample, using empirical analysis methods on heterogeneity on cash dividends and Corporate Performance Board were studied, the results of its research on the development of listed companies to improve the performance of listed companies have a reference role.Firstly, the concept of the heterogeneity of the Board of Directors, cash dividends and corporate performance, an overview of the theoretical basis of the traditional theory of dividend policy, dividend policy theory and modern high-end echelon theory research;Secondly, the Board of Directors of the listed company size, the number of outside directors, members of the age, gender, tenure, qualifications, professional background and professional heterogeneity, pointed out the low cash dividend of listed companies, super Cash Dividends Cash Dividends and abnormal circumstances, summary the performance of listed companies condition;Once again, the members of the Board of heterogeneity as the moderator into diversification strategy and the performance of the enterprise, the use of listed companies in Shanghai and Shenzhen 300 Index panel data, using the least squares method, empirical analysis of the heterogeneity of the members of the Board of Directors Effect of corporate diversification strategy and organizational performance;Finally, the study found the cash dividend and the issuance of corporate performancethere is a significant positive correlation, significantly affect the relationship between members of the Board of age heterogeneity on the issuance of cash dividends and corporate performance; board members tenure heterogeneity cash dividend relations with the issuance of corporate performance have a significant positive impact; the relationship between members of the Board of Education heterogeneity on the issuance of cash dividends and corporate performance have a significant positive impact.