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本文研究公司盈余质量对现金股利政策的影响,我们先将2016年度上交所的A股上市公司中支付股利与未支付股利的上市公司分成2大类。然后将这两大类的上市公司的盈余质量进行对比和回归分析。我们可以发现总资产净利润率和营业利润贡献率回归结果显著。表示企业的盈利水平和持续性对于企业发放股利非常重要。一个盈利能力强并且具有可持续发展的企业比较适合于支付股利。
This paper studies the impact of corporate earnings quality on cash dividend policy. We first divide listed companies that pay dividends and dividends in A-share listed companies of the Shanghai Stock Exchange in 2016 into two broad categories. Then the earnings quality of these two categories of listed companies were compared and regression analysis. We can find that the return on total assets net profit margin and operating profit contribution rate are significant. That the level of corporate profits and sustainability of the dividends for the enterprise is very important. A profitable and sustainable company is more suitable for paying dividends.