Cash Dividend Policy Of Listed Companies In China

In our country, with the development of the security market, more and more investors begin to invest in the stocks . Mid-and-small investors are the fund suppliers of the security market and the listed companies, they are the foundation stone of the security market. The investors hope to obtain higher repayment at the expense of certain risks. In our country, the security market has declined since 2001 and become the"Bear market"from the"Bull market". On June 6, 2005, the Index of Shanghai Stock Exchange shrank to 998.22 points, which was the minimum position since 1997. Then, can mid-and-small investors, which are in a situation that is more difficult to obtain capital profit, obtain more cash dividend? Does the current situation of the cash dividend distribution change to some extent after a series of relevant regulations were carried out? Which are the factors that influence the listed company of our country to distribute the cash dividend? This paper attempts to find more satisfactory answers for these questions on the basis of drawing lessons from forefathers' research results.This paper is divided into five chapters, the structure and main content of each chapter are as follows:Chapter one: The survey of the cash dividend policy of our country's listed companies. It introduces various forms of dividend distribution in the listed company of our country, and presents the western cash dividend theory and cash dividend policy. This part is the foundation of the whole paper's theories.Chapter two: Current situation of the cash dividend distribution of our country's listed companies. It analyses the situation of cash dividend distribution of our country's listed companies in recent years, on the base of samples of Chinese listed companies'data.Chapter three: An empirical study on the issues of whether the listed company distributes cash dividend and the factors influencing the quantities of the cash dividend. The former part of this chapter is the...