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The Influence Of The Board Characteristics On A-Share Financial Listed Companies' Cash Dividend Policy

Posted on:2019-07-01Degree:MasterType:Thesis
Country:ChinaCandidate:X D WangFull Text:PDF
GTID:2359330569989314Subject:Financial
Abstract/Summary:PDF Full Text Request
Cash dividend policy is the important Bridge to contact the company and shareholders,and has an important position in the company's financial policy.The board of directors is the core of the corporate governance structure,and at the same time,the board of directors has the right to make profit distribution and plans to cover company losses.Financial industry has its unique industrial feature,its corporate governance structure is relatively complex.So it is really useful to discuss the effect of the characteristics on the cash dividend policy.In view of the influence of board characteristics on cash dividend policy,this paper based on the studies that researched it from different angles recent years.And summarized on the basis of the financial industry particularity,the structural characteristic from the board of directors,the encourage of the board of directors,the board of directors behavior characteristics,and the stability of the board of directors,to discusses the influence of board of directors of the listed company in China's a-share market financial characteristics on cash dividend policy.The results show that the scale of the board of directors and the cash dividend distribution willing and payment has Positive correlation;independent directors proportion and the cash dividend distribution willing and payment has Positive correlation;the female director ratio and the cash dividend distribution willing and payment is not related;the independent directors salary and the cash dividend policy has Positive correlation;directors salary incentive and the cash dividend distribution willing and payment has Positive correlation;the board of directors meeting frequency stability is negatively related to the cash dividend payment,but is not related with the willing of the cash;the stability of board of directors and the cash dividend policy has Positive correlation.
Keywords/Search Tags:the board of directors, cash dividend policy, cash dividend distribution willing, cash dividend payment
PDF Full Text Request
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