Can Increasing Cash Dividend Paid Improve Firm Value? Evidence from Chinese A-share Tourism Listed Firms

DOI

10.2991/assehr.k.210519.010How to use a DOI?

Keywords

Cash dividend paid, Dividend distribution policy, Firm value, A-share tourism listed firms

Abstract

Cash dividend distribution policy is an important part of listed firms’ financing management, which affects the firm value. This paper takes the data of tourism firms in Chinese A-share market from 2015 to 2019 to empirically explore the impact of the cash dividend paid on the firm value. The study finds that increasing the cash dividend paid in the previous financial year can improve the firm value in the current financial year. Furthermore, Increasing the cash dividend paid in the previous financial year can improve the firm value of state owned tourism firms more than that of non-state owned tourism firms in the current financial year. The above conclusions not only help company executives to recognize effects of the cash dividend distribution policy in China and promote the financing management which encourages the healthy development of Chinese securities market, but also provide some enlightenment for the development of tourism firms.

Copyright

© 2021, 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  - Xu HE
PY  - 2021
DA  - 2021/05/20
TI  - Can Increasing Cash Dividend Paid Improve Firm Value? Evidence from Chinese A-share Tourism Listed Firms
BT  - Proceedings of the 7th International Conference on Humanities and Social Science Research (ICHSSR 2021)
PB  - Atlantis Press
SP  - 49
EP  - 55
SN  - 2352-5398
UR  - https://doi.org/10.2991/assehr.k.210519.010
DO  - 10.2991/assehr.k.210519.010
ID  - HE2021
ER  -