A Study on the Motivations, Market Reactions and Rationality of Kweichow Moutai’s High Cash Dividend Policy
Year: 2025
Type: article
Abstract: Dividend policy constitutes a vital component of financial management for listed companies. As a key element of corporate finance, it directly influences shareholders’ investment decisions and serves as a crucial benchmark for evaluating a company’s value. Consequently, the rational implementation of dividend policy has become a significant topic within the field of corporate finance. This paper employs a single-case study method, focusing on Kweichow Moutai Co., Ltd. as the research object explore the motivations behind its high cash dividend policy and the subsequent market responses it triggered. The research indicates that Moutai’s high cash dividend policy is the result of a balance among multiple factors, is well - aligned with the company’s operational scale and cash flow status, and thus exhibits strong rationality. This study not only provides valuable references for formulating high dividend policies within the baijiu industry, but also offers a basis for investors to evaluate corporate value, and help capital markets in evaluating the worth of high-quality enterprises.
Author: Yongning Yang
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4415166136
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