An Empirical Study On The Determinants Of Dividend Policy Of Listed Companies On

With the constant improvement of economic policies in China, the securities market has presented the pattern of diversification. In2009, the birth of the gem, mainly to support those who are developing, with highly growth, emerging small and medium-sized enterprises of science and technology. These emerging enterprise’s growth cannot leave the financing platform support, but if they want to go to the small and medium-sized board or motherboard market, both in terms of size and profitability and its requirements in such aspects as far, the gem is tailored for the enterprise financing platform. But we also want to see, because our country securities market started late, too young, in such aspects as legislation, regulation, standard, operation compared with the western mature capital market reform still have space. Especially the gem of our country, although have high growth, some non-standard problems all aspects.To the steady development of listed companies, choose suitable for their own development is particularly important to the dividend policy. Incentives, is about the interest relations, business related subject about corporate image, relationship to the survival and development of the company. Choose appropriate, reasonable dividend policy, the enthusiasm of investors may be able to widely between different interests, the interests of the ability to balance and to the healthy development of securities market.Therefore, this article based on the research of the dividend policy of listed company, puts forward the feasibility of the gem listed company measures and reasonable Suggestions, make investors and listed companies, regulators tripartite cooperation, create a good atmosphere of capital market.This article is divided into four parts, the first part is the gem of our country background introduction, dividend policy, related concepts and research overview; The second part is the summary of the gem listed companies in our country, including the present situation of the gem listed company dividend distribution and the factors influencing the dividend distribution theory analysis; The third part is through the SPSS software, the gem listed company’s dividend policy can be divided into cash dividend and stock dividend, and regression analysis respectively discusses influencing factors. In the end, is the study conclusion and policy Suggestions, in order to further standardize the securities market in our country.