A Study on Ultra-ability Dividends Payout of Chinese Listed Companies
|Keywords||Cash Dividends High cash dividend Corporate Performance Corporate Governance|
The so-called \Use of a means test , correlation analysis and LOGISTIC regression method to split share structure reform basically completed - from 2007 to 2009 , China 's A-share listed companies as a sample of the \the theoretical analysis and empirical test . Impact on corporate performance test showed \The impact of research on behalf of the company to the largest shareholder of the listed company insider \cash in and the behavior of listed companies , and one of the reasons for this behavior is caused by listed companies ' high cash dividend . In addition, the article also China's major institutional investors , and part of the corporate governance mechanism in company management efficiency, reduce agency costs , thereby inhibiting the \independent director system , the system of equity incentive compensation incentives did not play its due role , and given the appropriate policy recommendations . This paper studies the development of the theory of cash dividends and investor protection , and our investors protection policy formulation has certain reference value .