Economic Policy Uncertainty and Firms’ Cash Dividend Policies
Qiu-Min Liu, Chi-Chuan Lee, Ruyu Zhang
Available Online December 2018.
- https://doi.org/10.2991/iceemt-18.2018.100How to use a DOI?
- Economic policy uncertainty; dividend distribution decision; economic development; financial decision
- This paper adopted China’s Economic Policy Uncertainty (EPU) compiled by Baker et al. (2016) to study the impact of uncertainty and other factors on the dividend decision of listed companies, from the macro and micro perspectives. Empirical analysis was performed by the fixed effects model. It was found that the rise of economic policy uncertainty and the economic depression will inhibit corporate dividend distribution, and that equity concentration is significantly positively correlated with the level of corporate dividend payout in China. This paper extended on the study of policy uncertainty on corporate dividend distribution behavior, and concluded that the government should formulate transparent and stable economic policies, reduce the negative impact of uncertainty on enterprises, so as to promote the development of real economy.
- Open Access
- This is an open access article distributed under the CC BY-NC license.
Cite this article
TY - CONF AU - Qiu-Min Liu AU - Chi-Chuan Lee AU - Ruyu Zhang PY - 2018/12 DA - 2018/12 TI - Economic Policy Uncertainty and Firms’ Cash Dividend Policies BT - 2018 3rd International Conference on Education, E-learning and Management Technology (EEMT 2018) PB - Atlantis Press SP - 515 EP - 519 SN - 2352-5398 UR - https://doi.org/10.2991/iceemt-18.2018.100 DO - https://doi.org/10.2991/iceemt-18.2018.100 ID - Liu2018/12 ER -