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公司的可持续发展依赖于两大因素:经营效率和财务决策。相比受外部市场环境影响较大的经营效率而言,改变财务决策更具灵活性。而股利决策作为财务决策的重头戏,是保证公司可持续发展的重要因素。武汉钢铁股份有限公司(简称武钢股份)近五年来一直保持着稳定的股利决策,每年的分红比例平均达60%以上。这种股利决策虽为公司树立了良好的形象,但是否会导致武钢股份陷入财务困境,影响
The company’s sustainability depends on two major factors: operational efficiency and financial decision-making. Compared with the operating efficiency that is greatly affected by the external market environment, it is more flexible to change financial decisions. Dividend decision-making as the highlight of financial decision-making is an important factor to ensure the sustainable development of the company. Wuhan Iron and Steel Co., Ltd. (hereinafter referred to as Wuhan Iron and Steel Co., Ltd.) has maintained a stable dividend policy in the recent five years with an average annual dividend payout ratio of over 60%. Although this dividend decision-making for the company to establish a good image, but will lead to shares of Wuhan Iron and Steel into financial difficulties, the impact