The Analysis On Influencing Factors Of Dividend Policy Of General Aviation Quoted Company

Cash dividends policy is an important reference on evaluating the business circumstance of quoted company.It is a key indicator which effects investment decision of quoted company in the long term.Cash dividends policy has a deep influence on share price and financing of quoted company.A reasonable cash dividends policy can provide a positive information to capital market,motivating investment market,boosting capital market development,building confidence of company in order to gain finance support from capital market as well.At present,the development of the bond market of our country is not complete.There are many problems,it is mainly due to the negative attitude of quoted company toward cash dividends policy.Result in the unpleasant situation on allocating dividends which contains zero dividend or just meet the demand of CSRC.Therefore it is very important to analysis the factor caused by cash dividends.General aviation industry is an significant component of civil aviation,the development of general aviation industry will encourage the growth of economy,which plays a key part in the economy of our country.Aviation industry is a technology oriented industry,this industry requires more capital then the other.So a stable and reasonable cash dividend policy can help external financing.For the moment,some malpractice have occurred in cash dividend policy,these malpractice may cause poor performance of general aviation company.This paper studied the factors which may cause influence on cash dividend policy through theory and real example analysis,by this way the study may help policy makers when they make relevant policies.The data during 2011-2015 of General Aviation quoted company is used as research object.The possibility of the allocating cash dividends and the distribution of cash dividends have been analyzed through theory and real examples.Statistical analyze has been made toward the status of cash dividend of General Aviation quoted company.The present problem has been concluded,the analyze has been made through discussing the profitability,debt paying ability and operating ability.Stepwise regression model and binary logistic regression model were used to proceed real example analyze.Then we have carried on individual verification for the empirical results.Advices on policy have been made based on the result of real example analysis.