A Research On Cash Dividend Policy For Vanke

Cash dividend policy can reflect the business activities and performance of a listed company,the company's cash dividend policy is extremely important for the influence of the company.So,economists and accounting experts are many aspects of research on cash dividend policy,forming a very rich theoretical results,but so far there is no consensus on this issue.There is no doubt that the development of the real estate industry is a hot topic of discussion in today's society,it has close contact with a number of industries and so on real estate listed company cash dividend distribution policy also involves quite many people's interests.Earlier listed as one of the real estate enterprises,the factors influencing vanke company is a very diversified and multi-level,the influence of these factors lead to the cash dividend policy would be affected.In this paper,based on a brief introduction of the vanke company,cash dividend policy of China vanke integrity description analysis,found that although vanke's cash dividend distribution continuity,but the lack of stability.Under the condition of vanke,analyze the macro economic policy factors and corporate earnings,scale,debt repayment ability,operation ability,ownership structure,cash ratio and other factors,and using the empirical model to examine the factors of affect the cash dividend policy: the level of profitability,cash flow,operation ability,debt paying ability,the company scale,equity concentration,the indicators are pay level was positively correlation with vanke's cash dividend.Finally,combining with the research conclusion,vanke internal conditions and external macro market environment according to the actual situation of both should be improve the company's operating capacity,optimize the company's internal governance structure,at the same time,there should be a perfect market in the capital market supervision system,reduce the probability of the government's administrative intervention,to improve the level of cash dividend payment vanke,relevant policy suggestions.