Study On G-bits Dividend Distribution Policy From The Perspective Of Financial Strategy Matrix

The dividend distribution policy,as an important part of the corporate financial strategy,plays a key role in the coordination of corporate financial relationships.It not only affects the implementation of the company’s current strategy,but also relates to the future of the corporate strategy.At the same time,dividend distribution also involves the interests of the government,shareholders,creditors,employees and other parties.To correctly understand the relationship between them and coordinate their contradictions are vital to the survival and development of enterprises.Therefore,formulating a scientific and reasonable dividend distribution policy that is in line with the actual situation of the company is great significance to the future development of the company.In recent years,with the introduction of a series of policies by the China Securities Regulatory Commission,listed companies have issued cash dividends in dividend distribution.However,individual listed companies have implemented abnormal dividend distribution policies that involve high or even excess cash distributions,which have been received by experts,scholars and many investor’s attention.Taking the emerging online game industry as the starting point,this thesis selects the G-bits company,which is mainly engaged in online games,as a case enterprise.From the perspective of financial strategy matrix,based on the theory of financial strategy matrix,value-added theory and sustainable growth theory,it adopts literature research methods and case studies.Method and comparative analysis method,through the construction of a financial strategy matrix,the matching analysis of the G-bits dividend distribution policy and the corresponding dividend distribution policy under the state of the financial strategy matrix reveals many problems in it,such as the incompatibility of dividend distribution and financial strategy,the dividend distribution method lacks diversification,the dividend payment level lacks stability,and the dividend payment rate is negatively correlated with the sustainable growth rate.Then,we analyze the causes of the problems from the four perspectives of equity structure,policies and regulations,overall financial status,and signal transmission effects.At the same time,use the capital market investors to analyze the market reaction of the G-bits dividend distribution plan on each of the seven trading days before and after the announcement date.Carrying out the consistency test of the results of the financial strategy matrix and the market reaction results,further confirming the defects of the G-bits dividend distribution policy and the guiding role of the financial strategy matrix on the dividend distribution policy.Finally,it puts forward countermeasures and suggestions for the problems and causes in the G-bits dividend distribution.