An Empirical Study On The Impact Of Dividends On Stock Prices In Listed Companies In The Media Industry

The development potential of the media industry is huge.According to statistics,it only takes eight years to create a world-class competitive large-scale enterprise,and the growth rate of the media industry far exceeds that of the banking,power,and pharmaceutical industries.A reasonable dividend policy can not only stimulate the enthusiasm of shareholders for investment,but also increase the motivation of the management team to win a good corporate image for the rapidly growing listed companies of the media industry and achieve long-term development.Based on the dividend-related theory,this article uses the 2014-2016 data of listed companies included in the media SWS Index as research samples.Using event research methods and multiple regression analysis,the impact of dividends on listed companies in the media industry in China from the perspective of short-term and long-term perspectives conduct the empirical research.The results show that the dividend forecast of listed companies in the media industry will have a short-term impact on the market,but the negative return rate also indicates the irrationality of China's stock market.The dividend policy based on cash dividends in the media industry has not been affected by investors.In the long term,the increase in net profit of the media industry or the distribution of dividends will also increase the volatility of the stock price.However,investors are more optimistic about the profitability and stable dividends of listed companies in the media industry.To a certain extent,these influencing factors restrained the stock price from fluctuating significantly and boosted investor confidence.