friendship international hotel rongsheng china free sample

Good location near downtown attractions and Ancient City for food market. Room was huge, with couch and desk table. Cleaning staff didn"t replace toilet paper, and actual took the little we had already. No English. Hotel says there is a spa and fitness centre, but there isn"t. Breakfast is included and was really good with lots of options and fruit. Price was steep for China at around 700 RMB per night. Gas masks in the room for ??

Moreover, the conflict of interest among the stakeholders of the company has made the shareholders to pass a vote-of-no-confidence on some of the board members during the annual board meetings. The presidents of the company are awarded bonuses due to their hard work so as to motivate them. However, when the performance is dwindling as witnessed in the China’s publicly listed companies, the stakeholders can be forced to terminate the contracts of the top management team of the corporation.

According to Wittner it is important to study the way corporations are structured and governed to avoid possible cases of capital mismanagement (Wittner 2003, p.66). A poorly defined capital structure of a company makes it impossible to maximise revenue that can facilitate the declaration of dividends. It is possible to note that even in a country; there are many differences in terms of the corporate performance and management. There is a hierarchical difference in various corporations that exist in China’s publicly listed companies. Therefore, it is prudent to justify that corporate structure differs from one organisation to another. However, arrangement and organisations in various corporations are ways through which different structures are formed to achieve a common goal, that is, the managerial accountability (Peteraf 1993, p.189).

Corporate performance and governance is also considered as one of the most efficient element in improving economic efficiency. This is because the development of the capital markets are directly affected by the corporate governance since it influences the market very strongly and at the same time affects the resource allocation through what is considered as its impact on a company’s behaviour, innovation activity, development of an active small market economy, and entrepreneurship (Weygandt 2008, p.56). Therefore, it can be argued that the presence of a good corporate governance system is manifested through the enhanced performance by a corporation, especially in China, and enhances a steady high growth in the economy.

Separate data analysis of tentative capital structure choices showed similar findings. In each of the surveys, question were put forward to financial managers of two major criteria they used to determine their financing decisions, maintaining a mark capital structure or using a hierarchical of financing (Sunder & Myers1999, p.109). Several industries, especially the most profitable companies habitually have the smallest debt ratios completely to opposite what trade-off model can predict. Huge positive and abnormal returns for a company’s Stockholders are linked with leverage-increasing actions like stock repurchases and debt-for-equity interactions other leverage-decreasing events like issuing stock. Finally, more companies in China issue new stock once in a decade. According to this survey carried out in these multinational companies and industries there is enough evidence to support this rule that industry trends do really exists (Sunder & Myers 1999, p.116).

Pecking order theory of capital structure explains that companies do have a favorite hierarchy for financing decisions (Sunder & Myers 1999, p.117). Failure to give out new securities allows the company to escape the flotation costs linked with external grant and the monitoring and market discipline that happens when accessing capital markets in China Petroleum & Chemical Corporation most of the money is liquidities (Sunder & Myers 1999, p.117). This explains the reason for their continued expansion globally and their financial stability.

The purpose of this study was to explore the corporate performance, capital structure and dividend policy of China’s publicly listed companies. The search focused on China’s publicly listed companies’ capital structure. Moreover, the study focuses on these companies’ dividend policy. To this end, the relationship between these companies’ capital structure and dividend policy is ascertained (Glautier, Underdown & Morris 2010, p.176). Finally, a dividend pay out predicting model is developed.

A quantitative research design will be used to gather financial data on China’s publicly listed companies. The present study was focused on an approach with which understand an approach with which to test a hypothesis with a numerical construct (Solnik 2000, p.72).

A sample of 258 companies was drawn from 2585 China’s publicly listed companies for this analysis. The sample drawn from the population being studied was selected to be representative of the entire population so any data recovered from secondary data was a true reflection of the population.

As mentioned, sampling is the process by which the researcher chooses a representative sample from an entire population. The number of China’s publicly listed companies currently runs up to 2585. Therefore, it would have been impractical to send out questionnaires or to conduct interviews with all the stakeholders of these companies. The best way to choose participants was through the extraction of a sample that was representative of the entire population (Markowitz 1952, p.90).

The analysis identified trends in responses; after incorporating these data into the software, and checked for patterns and common themes that dealt with Web-based environments in relation to the research questions (Oster 1994, p.87). The experiences management of China’s publicly listed companies some similarities. These similarities or differences either formed or did not form patterns. Therefore, it can be suggested that analysis should also draw many explanations from the broad perspective of experiences as demanded by the research.

The financial data used for this study were gathered from ‘Orbis’, and a sample of 258 companies was drawn and exported to an excel spread sheet. This represented 10% of the 2585 China’s publicly listed companies. The data included total assets, cash dividend paid, gearing ratio, price earning ratio, earning yield ratio, cash/cash equivalent, return on assets (ROA), return on equity (ROE), and solvency ratio. In this regard, the data on the sampled 258 China’s publicly listed companies were used in the analysis.

Correlation analysis is presented in the appendix 1. Financial data for 258 China’s publicly listed companies have been used in the analysis. As represented by the correlation analysis (shown) there was some level of relationship between the price earning ratio and cash dividend paid by these companies.

The correlation co-efficient (r) is a clear indicator of both strength and direction between the price earning ratio and the cash dividends paid. In the analysis of these two statistical variables, the cash dividend paid is the dependent variable (y). On the other hand, the price earning ratio has been assumed as the independent variable (x). The outcome of the financial data analysis indicated a 0.4% positive correlation co-efficient. Therefore, a 0.16% co-efficient of determination (r) could be derived from the analysis. Based on the analysis, it is possible to conclude that 0.16% of the changes in the cash divided paid by the 258 China’s publicly listed companies can be elucidated by the changing trends in the price earning levels. Therefore, 99.84% moving trends in the cash dividend paid can be elucidated by errors/factors, which are not analysed in the study.

A regression analysis was conducted on the financial statement data for the 258 China’s publicly listed companies to ascertain the relationship between the gearing ratio and cash dividend paid (see appendix 2).

Given that every shareholder seeks to put his/her funds into an organisation that will in turn invest the funds in various assets aimed at generation of sales and profits, the better the companies manage these assets, the higher and larger the size and amount of sales the assets will generate and the more satisfied the investor will be. Therefore, many investors employ the use of efficiency ratios to determine the level of efficiency within the organisation and how the organisation manages their assets (Kuwamori & Kuroiwa 2011, p.18). For China’s publicly listed companies, the efficiency ratios are relevant for the above evaluation. In this regard, the return on assets (ROA) for these companies stood at an average of 6.12% during the last financial year. Even though the ratio is significantly low, it is necessary to realise that it is positive to conclude the companies’ managements are efficient in managing the financial performance of these firms (Pang & Lui 2011, p.34).

It is evident from the data report that there are sufficient ratios for China’s publicly listed companies, because they are greater than1.Quick ratio enables these companies to rely on their most liquid assets to meet their operational costs and as such to deduct the effects of inventories, which are more liquid current assets. The ratios can be interpreted to mean that in the last year, China’s publicly listed companies had at least 0.314 to service their $1 current liability.

. Generally, the equity ratios for China’s publicly listed companies portray a very stable financial situation for these firms since the current liabilities can be readily offset by the current liability and so do not require more external sources of finances. Together with the aspect of returns on the assets, the shareholders of these companies should not have concerns if the following better and improving circumstances are maintained. This implies that the companies are generating enough returns from the investments. Therefore, the shareholders are assured of security in their investment while the managements do not have to explore, with urgency, funding options since the companies have proven to be self-sustaining as indicated by the liquidity ratios. Therefore, the financial model of China’s publicly listed companies is a more secure one, which does not cause lots of uncertainty.

The other important ratios are the debt management ratios also known as the long term solvency ratios and include debt ratio, debt equity ratio and the equity multiplier. The ratios help these firms to gauge the returns from borrowed sources and help them manage their financial sources without burden. The data on the solvency ratios have an approximate average of 0.314 or 31.4%, which is interpreted to mean that, despite the companies acquiring more funding in terms of debt, the returns due to such funding are not totally hundred percent, but are lucrative for the businesses. The capital borrowed almost gave a return of about 19.21 percent (0.1921) during the past year investment period, as evidenced from the average return on equity ratio for these 258 China’s publicly listed companies. Therefore, such investments are worth taking the investment risks.

If there were to occur the unimaginable position for China’s publicly listed companies. to opt for insolvency, it is true that the shareholders equity in the business will be able to offset the company’s debt by up to five times which is a very sufficient position for the firm and the shareholders are assured of the limited nature of their investment into the companies (Song 2012, p. 57).

The figures for the debt management ratios for China’s publicly listed companies outline the firms’ financial position. The debts of the companies are slightly more than the shareholders equity into the firms. Therefore, it can be ascertained that the shareholders are in a position where they contribute effectively in offsetting the company debts although the debts can be settled from profits as indicated by the profitability ratios, especially when the ratio is approaching one.

China’s publicly listed companies are growing firms. For example, when a growth rate of an average of 6 times had been attained from the last year performance, this meant that these companies managed to acquire assets, which are approximately six times the shareholders equity. This shows that there is an aspect of growth in investment. At this average growth rate, it is only in order to use forecasting to determine what to expect of it in the future stability, profitability and sustainable growth.

At a glance it can be realised that the debt management ratios for China’s publicly listed companies provide a clear position of the firms and suggest that the corporations have maintained a relatively fair balance between their borrowing and the corresponding rates of return to that effect since the ratios are very sufficient and portray it as businesses that will be able to survive within the market. China’s publicly listed companies are able to service their current liabilities from the current debts, and this assures a financial security to the shareholders (Zhu & Wan 2012, p.86). Based on the profitability of the company within the trading periods analysed, the shareholders are assured of dividend allocation, which according to the capital base of the company is really easy to declare. In addition, the shareholders will be able to focus the financial future of the companies making them to increase their stakes in the firms. Based on such financial stability and security, China’s publicly listed companies can be regarded as to be dominant in the Chinese market (Zou & Lui 2011, p.52). Much of this can only be attributed to the management which they have achieved by ensuring quality production, sufficiency where enough machinery are built to meet the ever increasing customer demands in terms of quality and the numbers as well as extensive marketing, research and development programmes in order to acquire and maintain new markets (Zhan & Zhan 2012, p.84).

It is evident from the observed report that the financial statement data analysis of 258 China’s publicly listed companies indicates significant rising gearing ratio from year 1 to 9. For instance, the gearing ratio of China Petroleum & Chemical Corporation increased from 81.04% in year 8 to 87.54% in year 9. It can be argued that the increasing gearing ratio is as a result of bonds issued (Bebbington, Gray & Laughlin 2001, p.102). It could be possible that last year the companies issued 5 bonds at P60 each. It is possible that 3 of these bonds will be redeemed in year 9, while the remaining 2 are to be redeemed in year 7. Therefore, the gearing ratio jumped from 69.56% in year 1 to 80.61% in year 2.

The financial data analysis reveals that the sampled 258 China’s publicy listed companies are better capitalised. This is well supported by the companies’ gearing ratio. Therefore, it is evident that returns on asset (ROA) ratios of the 258 China’s publicly listed companies are better financial indicators of their capital structure. Moreover, the financial indicators showed that these companies paid cash dividends to their shareholders. As a result, a relationship between price earning ratio and cash dividend paid was established from the analysis. This implies that the companies set aside some cash dividend amounts to pay to the investors.

China’s publicly listed companies are stable and influential players across the regional presence. These companies have several available avenues to ensure that the shareholders’ value improves. By appling simple risk assessment tools, the groups have also established that the companies pride of a very stable financial foundation and a sufficient liquid assets that makes it easier for the firms to operate efficiently. In addition, the companies have substantially relevant divident policy frameworks that ensure that the shareholders receive their share of the gains when realised. The analysed companies’ financial ratios are stable and this corroborates the earlier stand that the firms are healthy in terms of financial position and the related operational capacities.

Following the fact that China’s publicly listed companies’ financial positions are purely inclined on strong capital base at the expense of substantive profit growth that accrue from an operational excellence strategies. This implies that these companies should consider capital restructuring that involves striking a balance between debt and equity so as to achieve higher levels of profitability. In addition, the companies’ financial teams should formulate strategic and managerial competency that are aimed at improving the operational efficiency. This will ensure that these companies achieve growing rates on both the gross and the net profit margins. The increasing profit growth will work to ensure that the companies achieve proficient operational capacity that is pegged on strong technical and technological base. This implies that the companies should significantly invest in technical advancements of the working teams to ensure improved efficiencies of the organisational operations.

Kuwamori, H & Kuroiwa, I 2011, “Impact of the US Economic Crisis on East Asian Economies: Production Networks and Triangular Trade through Chinese Mainland”, China & World Economy,vol. 19, no 6, 1–18.

Zhan, J & Zhan, Y 2012, “Foreign Value-added in China’s Manufactured Exports: Implications for China’s Trade Imbalance”, China & World Economy,vol. 20 no 1, 27-48.

Zou, W & Lui, Y 2011, “Rural–urban Migration and Dynamics of Income Distribution in China: A Non–parametric Approach”, China & World Economy,Vol. 19, no 6, 37–55.

As of Feb 6, 2023, prices found for a 1-night stay for 2 adults at Friendship International Hotel on Feb 7, 2023 start from $65.22, excluding taxes and fees. This price is based on the lowest nightly price found in the last 24 hours for stays in the next 30 days. Prices are subject to change. Choose your dates for more accurate prices.

Located in Bole, this hotel is within a 15-minute walk of Edna Mall, Medhane Alem Church, and Selam City Mall. World Bank Ethiopia and “Red Terror” Martyrs" Memorial Museum are also within 3 mi (5 km).

Yes, Friendship International Hotel offers free cancellation on select room rates, because flexibility matters! Please refer to Friendship International Hotel cancellation policy on our site for more details about any exclusions or requirements.

Located in Addis Ababa (Bole), Friendship International Hotel is within a 15-minute walk of Edna Mall and Medhane Alem Church. Featured amenities include complimentary wired Internet access, a 24-hour business center, and complimentary newspapers in the lobby. Planning an event in Addis Ababa? This hotel has facilities measuring 3228 square feet (300 square meters), including a conference center. A roundtrip airport shuttle is complimentary (available 24 hours).Read more