THE IMPACT OF CASH FLOW ON CASH DIVIDEND PAYMENT OF WHOLESALE AND RETAIL INDUSTRY IN CHINA

Abstract

Dividend policy is one of the three most important financial decisions of a company (He et al., 2017). Compared with the mature dividend policies of western countries, China's capital market is still in the development stage, and dividend distribution has some irrational phenomena, such as No dividend or Overpayment (Yang et al., 2018). In order to further explore the "dividend mystery" in China, this paper takes the data of China's listed wholesale and retail companies from 2014 to 2018 as samples and adopts the method of empirical research to study the relationship between three types of cash flows and dividend payment. In the analysis process, secondary data and SPSS multiple regression model is used to achieve this targeted study to arrive at accurate and reliable conclusions. Finally, key findings will be drawn based on the analysis results and combined with the actual situation, and provide some recommendations to the relevant parties from different angles.