Research On Dividend Policy Of The Listed Company In China

Dividend policy is a tactics concerning distribution of income, which involves various related interests. It will produce important influence to investor, market and listed company itself. Stable and sustained dividend policy can not only benefit to target that maximizes shareholder wealth, but also benefit to sound development of the capital market and the listed company itself. However, through very good analysis of the distribution situation in the last few years, the writer finds out that the listed company's dividend policy lacks continuity and stability in our country, which has produced seriously negative function. As for the condition, the writer considers that if you want to grasp the essence, you must catch the internal cause. Therefore, this thesis is primarily to analyze the importantly internal factors that affect the listed company's dividend policy. It aims at producing positive proof and relevant reference.Chapter 1 firstly introduces the background, main contents and purpose. Then in Chapter 2, the writer gives the summarization to the dividend policy, describes the nature and means of payment of the dividend, and the concept and type of the dividend policy mainly.Chapter 3 reviews the western dividend theories briefly and describes the actual situation analysis of dividend distribution of listed company. Firstly the writer makes an overall comprehensive analysis of and comments to the dividend theories. Afterwards, analyzes the application of "agency cost theory" and "signal theory" in our country. Then by analyzing the practice characteristics of the current situation of dividend distribution of listed company of our country and foreign dividend distribution of listed company separately, the writer considers that there are very great differences between the current situations of dividend distribution of our company and that of foreign listed company. Then, which internal factors influence the dividend distribution policy of listed company of our country?Chapter 4 is the important part of the thesis. It analyses emphatically the inside key influencing factors of the dividend distribution policy of listed company of our country. At first, the writer introduces the research results to the influencing factor of dividend policy of listed company of domestic and international scholar briefly. Then this thesis emphasizes to analyze the internal factors that affect listedcompany's dividend distribution. The normative and empirical analysis is combined to study whether each factor's effect is obvious or not.In the Chapter 5, according to the research, some suggestions are put forward. Chapter 6 makes a conclusion for the thesis.