Economic Policy Uncertainty and Firms’ Cash Dividend Policies

DOI

10.2991/iceemt-18.2018.100How to use a DOI?

Keywords

Economic policy uncertainty; dividend distribution decision; economic development; financial decision

Abstract

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.

Copyright

© 2018, 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  - 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  - Proceedings of the 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  - 10.2991/iceemt-18.2018.100
ID  - Liu2018/12
ER  -