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All Journal JABM JOURNAL of ACCOUNTING - BUSINESS & MANAGEMENT Indonesian Capital Market Review
Danni, Wang
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Other

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Analyzing the Influence of Dividend Policy on Corporate Value: A Financial Perspective with Haier as a Case Study Danni, Wang; Qi, Zhong
Journal of Accounting, Business and Management (JABM) Vol 32 No 1 (2024): Special Issue
Publisher : STIE Malangkucecwara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31966/jabminternational.v32i1.1464

Abstract

The dividend policy plays a pivotal role in stabilizing stock prices and sustaining investor enthusiasm for listed companies. It not only significantly impacts the interests of management, investors, and creditors but also has long-term implications for the company's development. However, most studies on Chinese enterprises' dividend policies primarily rely on empirical research methods, with limited literature available on individual companies. The utilization of a case analysis methodology in this study has significantly enhanced the research cases related to China's dividend policies, thereby providing valuable insights for the advancement of analogous industries and the formulation of future dividend policies. In this study, Haier Smart Home Co., Ltd. (referred to as "Haier"), a publicly traded company on the Shanghai Stock Exchange, is selected as the case study subject in order to examine the impact of dividend policy on corporate value from a financial perspective. Through an analysis of Haier's dividend allocation data from 2008 to 2022 and an evaluation of various financial indicators during this period, we find that a stable dividend payment level can effectively sustain the enterprise value of the company. Therefore, it is recommended for listed companies to optimize their ownership structure and enhance corporate governance while strategically formulating dividend policies aligned with their financial performance and corporate strategy.
The Impact of the Covid-19 Pandemic on Corporate Performance and Cash Dividend Distribution in China's Manufacturing Industry Danni, Wang; Sang, Lim Thien; Guangmei, Lei
Indonesian Capital Market Review Vol. 17, No. 1
Publisher : UI Scholars Hub

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Abstract

As an unprecedented global public health emergency with rapid spread and challenging prevention and control measures, the COVID-19 pandemic has profoundly impacted corporate performance worldwide. Notably, the manufacturing industry in China has been severely impacted. To comprehensively understand the influence of significant public health incidents on enterprises and mitigate the epidemic's repercussions, the unbalanced panel data of China's A-share listed manufacturing enterprises from 2018 to 2023 was analyzed by regression analysis. The findings demonstrate that the COVID-19 outbreak has diminished these enterprises' financial and market performance. Moreover, companies with higher cash dividends and more excellent stability exhibit superior future performance in the face of the impact. This finding implies that cash dividends are pivotal in augmenting corporate performance during uncertain periods following unexpected adverse events, suggesting potential adjustments and optimizations to the development strategy and dividend payment policy.
Co-Authors Guangmei, Lei Qi, Zhong Sang, Lim Thien