Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)

<Previous Article In Volume
Next Article In Volume>

Impact of Dividend Policy on Firms’ Financial Decisions and Growth Strategies-Taking Maotai Company as an Example

Authors
Haoqi Wang1, *
1Department of Management and Economics, Tianjin University, Tianjin, China
*Corresponding author. Email: 3023003014@tju.edu.cn
Corresponding Author
Haoqi Wang
Available Online 3 November 2025.
DOI
10.2991/978-94-6463-874-5_92How to use a DOI?
Keywords
Dividend Policy; Financial Decisions and Growth Strategies; Kweichow Moutai
Abstract

Dividend policy, as a core issue in modern corporate financial decision-making, is always facing the problem of “shareholder return and corporate development” trade-off. Traditional theories, such as signaling theory and agency cost theory, disagree on the value effect of dividend policy. Existing research focuses on static analysis, ignoring dynamic adaptation and industry specificity. Taking Kweichow Moutai as a case study, this study combines EVA theory, agency cost theory and signaling theory, and employs literature research, comparative analysis and case study methodology to explore the impact of Kweichow Moutai’s “high dividend+low debt” model on financial decision-making and strategic development. The results of the study show that the dividend policy is synergistic with EVA growth, the agency cost reduction mechanism is effective, and the signaling effect is significant, revealing the special characteristics of the consumer industry. The study is of great significance to corporate management, investment decision-making and policy formulation.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Download article (PDF)

<Previous Article In Volume
Next Article In Volume>
Volume Title
Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 November 2025
ISBN
978-94-6463-874-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-874-5_92How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Haoqi Wang
PY  - 2025
DA  - 2025/11/03
TI  - Impact of Dividend Policy on Firms’ Financial Decisions and Growth Strategies-Taking Maotai Company as an Example
BT  - Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
PB  - Atlantis Press
SP  - 803
EP  - 809
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-874-5_92
DO  - 10.2991/978-94-6463-874-5_92
ID  - Wang2025
ER  -