Discussion on Influence of Cash Dividend Policies on Stock Price by Taking MengDian HuaNeng Thermal Power Corporation Limited as an Example

DOI

10.2991/icecsd-17.2017.24How to use a DOI?

Keywords

MengDian HuaNeng Thermal Power Corporation Limited; cash dividend; signal transmission theory

Abstract

As one of the important forms for dividend distribution, cash dividend is the main method for return to shareholders. China Securities Regulatory Commission has released a series of related measures since 2008 to encourage listed companies to adopt long-term dividend policies and guide listed companies to conduct cash dividend as far as possible. The No. 3 directive for supervision on listed companies by China Securities Regulatory Commission standardized cash dividend in 2013. By taking MengDian HuaNeng Thermal Power Corporation Limited stocks as the example, this article investigates the influence of different dividend policies of different years on stock price based on the signal transmission dividend theory by utilizing the event study analysis, in order to verify if the management layer utilizes dividend policy signal transmission to disclose information to investors, in order to illustrate that the cash dividend distributed by companies indeed affects investors' decision on investment.

Copyright

© 2017, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Minhang Fu
PY  - 2017/01
DA  - 2017/01
TI  - Discussion on Influence of Cash Dividend Policies on Stock Price by Taking MengDian HuaNeng Thermal Power Corporation Limited as an Example
BT  - Proceedings of the 2017 International Conference on Education, Culture and Social Development (ICECSD 2017)
PB  - Atlantis Press
SP  - 111
EP  - 118
SN  - 2352-5398
UR  - https://doi.org/10.2991/icecsd-17.2017.24
DO  - 10.2991/icecsd-17.2017.24
ID  - Fu2017/01
ER  -