Exploring the Impact of Dividend Policy on Corporate Profitability– Evidence from Taiwan Electronics Industry

• Main Authors: Fang-HuiChu, 朱芳慧
• Other Authors: Hsuan-Chu Lin
• Format: Others
• Language: zh-TW
• Published: 2014
• Online Access: http://ndltd.ncl.edu.tw/handle/286g83

碩士 === 國立成功大學 === 財務金融研究所碩士在職專班 === 102 === The leading industry in Taiwan has changed from a predominantly agricultural economy to the high value-added industry, such as the electronics industry, in recent years. The electronic companies generally grow rapidly and are highly profitable. Therefore, these companies tend to pay more dividends to attract investors. This study infers that the dividend policy decided by management will reflect a company’s future performance. Our empirical findings verify the inference by showing that the cash dividend issuance is a positive signal to the future performance, but the stock dividend issuance is a negative one.