Influence Of Controlling Shareholder Distribution Policy

The dividend policy is one of the three core financial policy of the company，in the company’s business activities are a big influence. In the late50’s， study oncontinuous development of the theory of dividend policy， theory of forming manydifferent types， from traditional agency problems between Manager and owners to afuture agency theory between the controlling shareholder and the other shareholders.As the ultimate controller of the company， the controlling shareholder， thecompany plays an important role in financial decisions. The dividend policies of listedcompanies in our country where there are many unreasonable， especially fordifferent types of the controlling shareholder， is different from the effect of dividendpolicy of the company， this article from the controlling shareholders based on thetype of， then combine the background of Chinese companies ’ overseas investment，research the different types of impact on the dividend policy of the listed companiesin China， the controlling shareholder.Based on the absorption and synthesis on the basis of relevant literature， firston the evolution and development of the theory of dividend policy of backtracking，and analysis of domestic and foreign scholars on research situation of controllingshareholder and dividend policy， subsequently to the controlling shareholders oflisted companies in China and theoretical analysis on dividend policy. This articlefrom foreign strategic and financial point of view， the controlling shareholderthrough a case analysis of its impact on the dividend policy of the company andconcluded that these two different types of holding shareholders ’ influence on thedividend policies of listed companies in China is significantly different.Found-financial controlling shareholder dividend policies focused on short-term gainsrather than focusing on the company and the interests of minority shareholders andstrategic controlling shareholder will be given to the company and the interests ofminority shareholders. Combination of theoretical and analytical results and givessome sound advice on the actual situation in China.