A Study On Determinants Of Cash Dividends Policy Of A-H Share State Listed Companies In China

A lot of state companies listed in A share stock market and Hong Kong stock market recently in our country. They always distributed same dividends on two market every year. Their dividends not only need to satisfy some share holders purchasing A share, but also need to satisfy some share holders purchasing H share. We can deeply understand determinants effecting these state listed companies cash dividends policy , through researching and discussing A-H share state listed companies cash dividends policies, finding the difference of determinants effecting state listed companies just listed in A share market.We researched these question with demonstration. First, we demonstrated a lot of inside determinants effecting A-H share state listed companies cash dividends in our country. In this part, we choose some state listed companies just listed in A share market as comparing stylebook in order to finding effecting those cash dividends policies determinants difference between A-H share state listed companies and state listed companies just listed in A share market. Second, we tested the two market's domino affection of cash dividends distributed in 2004 considering infection of those two different stock markets to those listed companies.The demonstration results show that there are some determinants effect A-H share listed companies cash dividend policies. Such as: payoff ability, dividends distributed in last year, stock value in H share market, the control cash dividends share holders. Comparing with those state listed companies just listed in A share market, H share market effects their cash dividends policies.