Research On The Profit Dividend Of China Listed Companies

According to some basic principle and basic standpoints of the information economics and the Game Theory ,that the substance of process of the listed company profits dividend which is the intertexture of two "faultiness information dynamic games", the first game is between the listed company managers and the share-holders, and the latter is among the investors.The listed company profits dividend, as a signal, which is aught to have influence on the anticipations of the investors during the gaming process. So as to affect the development of the listed company, the structure of the share-holders, the share price and the market. This essay try to analysis and demonstrate such influence by investigating the listed company profits dividend's affections of the home and abroad listed company. And indicated that there is no dividend policy of either listed company fit for all the listed companies, by comparing dividend policies of different abroad listed companies. It is necessary for the listed company to select and decide its dividend policy by different situations. So as to retain the share price's stabilization or arising and ensure to maximize the wealth value of share-holders.Being restricted by the "Bayes Equilibrium", the center question of the listed company profits dividend, is still the creditability question. So the major factors are the profit ability of the listed company, theaccounting system, the information declaration system and the information dealing ability of the market, which decide the listed company profits dividend policy.Because of the developing of china stock market, the listed company profits dividend is not so good, in many ways, therefore, it is necessary to manage the listed company profits dividend. Such management is including the management by the listed company itself and by the government.