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Cash Study Concerning Controlling Shareholders Of Listed Companies Affect Cash Dividend Policies

Posted on:2017-02-07Degree:MasterType:Thesis
Country:ChinaCandidate:Y ZhouFull Text:PDF
GTID:2349330488461211Subject:Accounting
Abstract/Summary:PDF Full Text Request
Cash dividend policy as an important part of financial management is an important way the company can be long-term development. Appropriate cash dividend policy, and that helps the company establish a good image of the economy, but also for the company to win more investors. Therefore, the cash dividend policy has always been the focus of the company's management and the majority of shareholders concerned.Chinese Stock Market started late, although experienced 20 years of development, but the long-term formation of the "importance of financing, contempt dividend" problem still exists. In recent years, regulators are increasingly concerned about the problem of cash dividends, dividends from the original do not pay attention to the later positive dividends of listed companies, to the current dividends and refinancing conditions combined exhibit of regulatory authorities return to shareholders of listed companies to maintain a high degree of concern has been the issue. However, in the course of China's listed companies to carry out the work of the dividend, does not regulate the issue is still very prominent, for example, "to send the current low" or "high school now," from the perspective of controlling shareholders, mainly by listed companies of different ownership structure decisions the ownership concentration is high, "dominance" is serious. In listed companies, controlling shareholders in terms of dividend policy plays a leading role, it is often too much emphasis on their own interests, while ignoring the interests of minority shareholders, sometimes even against the interests of minority shareholders to seek their own interests.Firstly, the definition of dividend and dividend policy, types and related theories dividend policy will be explained. Then, the controlling shareholder of the relevant concepts were outlined, including:the characteristics of the definition of the controlling shareholder, controlling shareholder, then the controlling shareholder dividend policy-making process in the role to elaborate. Meanwhile, the status of the controlling shareholders of listed companies and the cash dividend policy for statistical analysis, and found that the implementation of non-standard cash dividend policy reduces the quality of the controlling shareholders of listed companies, seriously damaging the interests of minority shareholders, the impact of theinvestments of investors enthusiasm and confidence, is not conducive to long-term development. Therefore, the analysis with case, the controlling shareholder of Shuanghui company implemented abnormal "high cash divideneds" the cash dividend policy and Xiwang food company implemented abnormal "low cash dividends" the cash dividend policy were analyzed and compared to the overall situation of the similarities and differences between the two companies point, and make recommendations.
Keywords/Search Tags:Cash dividend policy, the controlling shareholder, High Cash dividends, Low cash dividends
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