Study On The Problem Of Ultra-ability Dividends Payout About Infinova

Dividend policy is the enterprise to its income distribution or retained for subsequent develop ment of decision-making problem.Corporate dividend policy and financing decision-making,invest ment decision-making is the core enterprise and financial decisions,is essential to the growth and development of enterprises.Reasonable dividend distribution policy can not only provide funding f or enterprise capital expansion,but also conducive to enterprise set up a good image,stable invest or confidence and attract potential investors,improve enterprise value.Early in our stock market a nd economic system is more special,the resulting the listed company's dividend policy lacks conti nuity and stability,and the phenomenon of low proportion group company.Then,the CSRC have issued a series of laws and regulations,to standardize the dividend policy of listed companies.Ho wever,with the increase of cash ratio of listed companies,there are some listed companies comes out Ultra-ability dividends payout phenomenon.This phenomenon is the enterprise regardless of its operating conditions and subsequent develo pment,the use of previous year retained earnings or even external financing funds distributing cas h dividend of abnormal current for,this will make the enterprise a lot of cash flow,which in turn lead to business subsequent lack of funding,will seriously affect the healthy growth and sustaina ble development of the enterprise,and heavily block the benign operation of the entire stock mark et.Super ability to send now,then,what the motives,this behavior will bring economic consequen ces,and enterprise,regulators and investors how to deal with super ability now,are issues worthy of further study.In view of this paper Ultra-ability dividends now problem of listed companies,with multiple Ultra-ability dividends now the Infinova company as an example,adopt the method of case analysis,to the ultra-ability send now existing literature research and related theories are s ummarized and discussed,around their motivation and economic consequences of super ability to s end an in-depth analysis and research.In this article,through analysis and research to get the following conclusions:(1)the motivati on of the Infinova company super ability to send now for reputation signaling cost of capital,rapi d recover the IPO and big shareholders' interests;(2)the event study results show that the capital market on the Infinova company superpowers sent this behavior now apathy,super ability to send now fail to bring the company are the shareholders' wealth effect;(3)the ability to send now m ake Britain Infinova company appeared the following year the operating performance of a certain degree of decline,is having a negative effect on its growth.Finally,based on the research conclus ion,in view of the enterprise itself,regulators,investors,how to deal with enterprise Ultra-ability dividends now this behavior related Suggestions are put forward.