Study On The Divident Policy Of Listed Company In China

Dividend policy is always the important part of listed company's financial management. It plays a crucial place because it may affect company's capital budget, capital structure and capital cost. At present, there are some actualities about dividend distribution of listed company: Dividend policy is changeable; Presenting shares is a general phenomena, etc. The study of the enterprise's behavior is not only important to the management of the listed company, but also important to the healthy development of the whole market and the realization of the market functions through the improvement of the market efficiency. What is the inherent reason that forms this phenomenon? How to standardize the behavior of dividend policy of the listed company? The goal of dividend policy should be: The corporations should not only send bonus to stock holders and make them satisfied but also increase internal capital source and induce the cost of collecting funds. The dividend distribution of corporation is to transmit its profits in the future to the public.The paper is divided into four parts: Chapter 1 are some theories and researches on dividend policy. Chapter 2 has described the current situation of dividend distribution of listed company in China, and has pondered over the danger caused of the current situation. Chapter 3 has probed into the reason of the current situation: two causes of corporation inner and external environment. Chapter 4 puts forward the countermeasure and suggestion.Through this paper, the author hopes above-mentioned suggestions could contribute to standardize the operation of China's capital market.