A Study On Cash Dividend Policy Of Chinese Family Enterprises

Family enterprise，as one of the most old forms of business organization inthe world,is common in the countries and plays an important role in the worldeconomy. With Chinese family enterprises growing for nearly three decades, itnot only has its inherent unique characteristics, but also has its shortcomings.it isbecoming increasingly difficult for family enterprise to develop from generation togeneration in the economic environment with competitive incentives.how to run anddevelop family company has gained more and more attention from all the society.Company’s dividend policy is obviously important for its connection withinvestment decisions, and financing decisions which constitute the company’s threecore content of financial activities.This year,China’s Stock market volatility is largeunder the influence of macro-environment in the world. That leads to Social hotdebate.Dividend policy are very important for the survival and development ofcompany.This study discusses mainly from the perspective of corporate governance toexplore our family of listed companies and factors affecting the dividend policy anddividend policy with the cash of non-family business has been analyzedComparatively. This study includes two parts-theoretical analysis and empiricalresearch.Theoretical analysis has made a review and analysis of dividend policyresearch at home and abroad, and has a practice analysis of China’s family status ofdividend policy of listed companies, and summarizes the internal and externaleffective factors to the company’s cash dividend policy. The empirical analysis whichis based on the analysis of the first part, has proposed hypothesis conclusion,andestablished and analyzed a multiple linear regression model. The Findings show that:the greater the cash flow rights, separation of ownership coefficients are related to theprobability of cash dividend and a positive correlation between strength, balanceprofitability and cash rates and a negative correlation between dividend. The authorhas put forward some suggestions to improve the cash dividend policy for our familybusiness.