Research On Influencing Factors Of Dividend Policy Of Foreign Trade Listed Companies In China

The relationship between dividends and corporate value has always been a hot topic among scholars.Due to the late start of capital market,strong policy intervention and initial stage of corporate governance,the dividend policy has failed to form a good guiding mechanism.In particular,the dividend distribution of foreign trade listed companies is influenced by factors such as international trade environment,exchange rate risk and the proportion of foreign trade sales,shows more uncertainty.This paper analyzes the dividend distribution characteristics of foreign trade listed companies in China since 2014,through quantitative research methods,that is,the stock of foreign trade listed companies from 2014 to 2016 in Shenzhen and Shanghai was selected as the research sample,the dividend payout ratio was selected as the explanatory variable,use multiple linear regression analysis(OLS)to study the influence factors of dividend policy.On the variable selection,mainly from the corporate governance structure,the dividend index,profit ability,growth ability,debt paying ability,operating ability,the cash flow characteristics,capital structure,the proportion of foreign trade sales concerns the influence factors of dividend policy.Have classified the foreign trade listed companies in China,came to the conclusion:the foreign trade company's main business income accounts for a high proportion,the profitability is strong,the debt level is reasonable,the development is in the maturity stage,the proportion of foreign trade sales is high,companies tend to pay dividends.However,for companies with unbalanced equity structure and low return on assets,the dividend policy is affected by the development of the company,which is unsatisfactory.According to this article research results,suggested to perfect relevant legal policies,optimize the equity structure of foreign trade listed companies,improve information disclosure transparency,continuous and stable dividend policy,safeguard internal and external factors,in order to facilitate the stable and good dividend policy guiding mechanism.