Dividend Policies Of Chinese Listed Companies

The research theme of the dissertation is an empirical study of dividend policy. Begin with the analytical framework of modern enterprise theories and financial decision-making, the paper sees some essential, comprehensive, and heuristic new findings on dividend policies of Chinese listed companies, which will be a bridge to understand and solve the problems of dividend policy. At the same time, the paper provides a heuristic paradigm for future relevant studies.The paper is divided into four parts: the framework of analysis, the description of empirical affaires, the analysis of empirical affairs and the proposal of the policy, which fit the logic of scientific study. Chapter 2 gives the approach of the paper. The chapter discusses theoretical basis, defines the important concepts such as dividend and dividend policy and finds the way to understand the purpose of dividend policy and its accomplishment, which form the framework of the paper. Chapter 3 describes the empirical affairs. It introduces the dividend policy of the listed companies and discusses the problems that the listed companies encounter. Chapter 4 analyses the empirical affairs. With the theories of the paper, the chapter suggests the causes of the problems which chapter 3 discusses. Chapter 5 provides some advice for the dividend distribution models to different types of listed companies.