The Research On Dividend Policy Of "High Stock Dividend" In Electronic Manufacturing Industry Companies Of GEM

Chinese quoted companies in favor of the "high stock" dividend policy when they decided to pay dividends.As soon as the company has the news of "high stock" dividend policy,the shares will go up rapidly.Such a strong reaction to the signal of stock dividend shows that investors are optimistic about the growth of enterprises.However,this policy will not have any impact on the value of the company.But,investors still have high enthusiasm about this.And companies choose "high stock" dividend policy always have potential purpose.What is puzzling is that investors who failed investment in "high stock" dividend policy still like investing "high stock" dividend policy.In recent years,Shanghai and Shenzhen pay more and more attention to this problem,and introduce policies about this frequently,which has little obvious.Is it really so good that this dividend policy will lead has a positive effect? Can investors repay get what their expected? Will the new deal control the enthusiasm of investors and companies? All of these require need depth research.GEM is an active market with "high stock" dividend policy.And the electronic manufacturing industry creates the value to the country also is higher and higher.This paper choice Lansikeji,which is a company in Electronic manufacturing industry Companies of GEM,as an example.This paper analyzes the motivation,market effect and financial impact of Lansikeji company.We found the "high stock" dividend policy is cooperated to the reduction of strong shareholders;and the "high stock" dividend policy return by the company is far less than expected.By the way,the financial status of Lansikeji is not well,and it has been declining year and year.The major shareholders will adopt high cash dividends while the company need money.Although the new policy was introduced in 2018,it has not reduced the enthusiasm of companies and investors to the dividends policy.Finally,based on the analysis of the case of Lansikeji company,this paper gives some advice to investors and companies.