Research On The Financial Effect Of China Shenhua High-end Dividend Policy

Dividend distribution policy has attracted much attention for a long time and is the core point of corporate dividend distribution.Not only has a direct impact on the interests of corporate shareholders and creditors,but also the future development of the enterprise.In recent years,the CSRC has issued a series of regulations in response to the issue of cash out by enterprises.Among them,semi-mandatory dividends have a greater impact.With the rapid development of China's stock market,some listed companies have begun to use high-paid dividend policies to manipulate company funds,while China's current regulations on high-paid cash dividends are relatively scarce.As a company's dividend policy involves multiple stakeholders,different dividend policies will have different impacts on the company's management and shareholders.This causes conflicts of interest between multiple parties,each of which manipulates the dividend policy in order to maximize their own interests.May ultimately harm the interests of the company and small and medium investors.First of all,this article describes the research background and significance,and the current status of domestic and foreign research.At the same time,it also introduces the relevant theories that need to be used in the analysis.Second,it introduces the background and motivation of China Shenhua.Finally,the financial effects of high research are analyzed in event research method,and the resulting effects are analyzed from two aspects,positive and negative effects,and based on the above analysis from the company level and Recommendations were made at the external regulatory policy level to enhance the financial effects.Through research,China Shenhua's high-end distribution found that the dividend policy has co-existence.Although it reduced the agency cost of the company,it also adversely affected the company's financial strategy and harmed the interests of small and medium shareholders.This article will analyze the current financial effects of China Shenhua Gaopai to provide exploration directions for other listed companies in the process of formulating dividend policies and subsequent company operations.Finally,it will provide company management and protect the interests of small and medium investors.Provide helpful suggestions.