Dividend Policy Of China Listed Company And An Empirical Study On Capital Market Fluctuation Influenced By Different Dividend Payout Modes

Dividend policy is always paid much attention as one of the key financial policies for corporations. It is related not only to the shareholders and the creditors, but also to the future development of the corporations. This thesis analyzes the issue on the dividend policy of China listed company. It is divided into four parts. At the initial, it reviews and makes comments for some relevant theoretical studies and empirical analyses on dividend policy by modern western scholars, which will provide a theoretical framework and some essential, comprehensive, and heuristic findings for China listed company. Based on the dividend decision-making mechanism, this article then shows a full-scale character of the present situation of China listed company on dividend policy and deep consideration in the reason. Thirdly, it performs an empirical study on the capital market fluctuation influenced by different dividend payout modes; with a view to help China listed companies in their decision. In conclusion, this paper puts forward some suggestions for the government to perfect company's dividend behavior and protects the interests of stock holds. At the same time, the paper provides a heuristic paradigm of dividend policy for China listed company.