A Study On The Influencing Factor Of Cash Dividend Policy Of Listed Companies In The Electric Power Industry

Dividend policy of a listed company is a strategy that assigns its profit between shareholders and remains earning. As one of the three key elements in modern financial management, it has been attention and the divergent focal point from internal and external benefit counterparts of the company, Reasonable cash divided policy not only may set up the good corporate image, moreover can stimulate the enthusiasm of the general investors which invests continually to the company, which can make the company obtain long-term, the stable development condition and the opportunity. Through reviewing the domestic and foreign dividend theory, This article analyzes the cash dividend's irregularity and the existence question of the listed company in our country, has carried on the theoretical analysis and the empirical analysis with the difference between our country present stage overall's cash dividends assignment characteristic and the relative stabilization of the cash dividends policy in our country electric power industry. This article's goal and the significance lie in analyzing the influencing factor of the cash dividends policy from the industry's angle, try to find the factors that affect the cash dividends policy of our country and propose the corresponding countermeasure.This article use the method which unified the theory and the empirical analysis and analyzes the influencing factor of the listed company's cash dividends policy in the electric power industry, obtained: the cash dividends policy of the listed company in our country electric power industry have a remarkable correlation with the profit ability, the value of each contribution, growth ability, the stockholder's rights structure and the property scale influence , and the cash dividends tendency ,the market profit, each income, the state-owned shares proportion and the total assets natural logarithm become remarkable related, assumes the inverse correlation with the main business income rate of increment of the growth ability target. Explained through the empirical study that the electric power industry takes our country foundational profession, its listed company's cash dividend policy will also receive the influence of the industry's characters.