Corporate Social Responsibility For The Impact Of Dividend Policy Research

In the enterprise financial management,the dividend policy has been regarded as an important consideration,so it has long been one of the high-frequency topics in the field of accounting research.In the management of an enterprise,the management(the shareholders' meeting or the board of directors)makes a general policy on the issuance of dividend-related matters in the form of normative regulations.It covers the decision whether to issue,when to issue,how much to issue,etc.problem.In order to enable enterprises to rationally allocate net income,taking into account the dividend policy of the importance of the enterprise point of view,so companies must weigh the interests of shareholders,the company itself and the interests of creditors,in order to develop the ideal dividend policy.Previous factors in the study of dividend policy can be summarized as various constraints,macroeconomic environment,inflation,market maturity,investment opportunities,solvency,growth period,ownership concentration,institutional stake.They present in all respects the factors that should be taken into account in the formulation of dividend policy.With the increase in corporate social responsibility in recent years,more and more enterprises began to pay attention to their social responsibility aspects of the implementation and disclosure,and therefore also by the academic community of widespread concem.This paper presents a new perspective on how to assess the impact of dividend policy and the extent of its impact on the degree of corporate social responsibility.On the dividend policy considerations,this article followed the predecessors of the usual ideas,one is to consider the year whether the dividend payment,the second is to use dividend and dividend payout to measure the degree of payment of dividends,the third is the year with the previous year dividend Whether or not to pay for the stability of dividend policy.For the explanatory variables of corporate social responsibility,this paper uses the RKS Social Responsibility Score Index based on a large number of previous studies on data sources.This paper chooses the listed companies listed on the Shanghai Stock Exchange and the Shenzhen Stock Exchange as the research sample,the model construction will be selected in the previous study of the factors affecting the dividend policy factors generally selected as control variables,on the basis of the construction of multiple linear regression model,SPSS software and EVIEWS system for the selected sample data analysis,analysis of the intrinsic relationship between the variables to verify the hypothesis.This paper concludes that the enterprises with high social responsibility are more willing to pay dividends and have higher dividend pay.The dividend policy of the enterprises with high social responsibility is more stable.The corporate social responsibility is more stable to the dividend policy The impact of the current social responsibility to the next level of dividend payment level of the greater impact.