The Research On The Dividened Policy On The Basis Of Dual-Classequity Structure

The dividend policy is one of the main contents of the finance management theory and the key contents of the finance management theory. She attracts so many scholars. And most of the finance management theories discuss the dividend policy.The main purpose of the dividend policy is around whether it can increase the worth of the company or not, the main purpose of the text is through the special ownership of a share two structure of the our country's listed companies, Assign the influence of the dividend policy on our country's listed companies. The listed company of our country issuing the dividend's effect on the current shareholders and the uncurrent shareholders.In this text, we analyze the basic circumstance of our listed companies, through the detailed date of our country's securities market. also we search the reason for it, and we also give some advices of it. Also we compare it to the west country's circumstance.In this text, we analyze the MM model and the Linter model. We combined the current circumstance of our country. We improve the MM model and the Linter model. Through it ,we analyze the listed company of our country's dividend policy. Particularly, we combine the actual circumstance to discuss it. and also, we analyze the process of the two parts ,we discuss how the dividend policy comes into being. At last, we get the conclusion: the uncurrent shareholders can easily deprival the current shareholders's wealth. Our stock market must carry on the reform.