Research On The Influencing Factors And Its Economic Consequences Of Gree's Dividend Policy

Dividend policy is an important financial decision for listed companies,while cash dividend policy is a dividend policy very popular among shareholders and investors,and it has always been the focus of scholars to study dividend policy.This article studies the dividend policy of Gree Electric,which has made Gaopai 's current behavior for many years in a row,analyzes in detail the factors affecting the formulation and implementation of its dividend policy and the economic consequences it produces,and analyzes Gree Electric and listed companies in the same industry in the future.The formulation of the dividend policy has certain practical significance.This article selects Gree as the research object,adopts case analysis method and event research method,and at the same time combines the agency theory,signal transmission theory and "bird in hand" theory in dividend policy theory to study and analyze the impact of dividend policy formulation and implementation Factors and their economic consequences.The research results show that the company's financial performance,corporate governance factors and investment opportunities are factors that affect Gree Electric Appliances' dividend policy.The analysis conclusions are consistent with agency theory and signal transmission theory.For the economic consequences of Gree Electric Appliances 'dividend policy,this paper has selected many From the perspective of analysis,the results show that Gree Electric 's dividend policy improves the value of the enterprise and at the same time improves the investment efficiency of the enterprise,which has a positive impact on the enterprise.This article selects the window period of five days before and after the announcement date of the Gree Electric Appliances Dividend Policy Plan,and conducts a market response analysis to find that the high cash dividend dividend policy will bring positive market reactions to the company,while the 2017 non-dividend policy,It caused a negative market reaction.Finally,based on the previous research and analysis,this article puts forward relevant countermeasures for the formulation of Gree Electric 's future dividend policy: balanced investment and distribution to meet the long-term development of capital needs,diversified dividend distribution forms,and strengthening the monitoring role of dividend distribution information disclosure.At the same time,according to the analysis of this article,some suggestions are also made for the formulation of dividend policies of other listed companies and the protection of the interests of small and medium investors: the formulation of a dividend policy needs to be combined with its own financial situation,the dividend policy should have stability and continuity,and balance the current distribution and Long-term investment relationship,establish and improve the protection mechanism for small and medium shareholders.