Comparison And Research Of The Dividend Distribution Of The Listed Companies In China And The West

Dividend policy is a modern financial companies listed as one of the three core activities. On one hand, it is a listed company financing and investment activities of continuity is an inevitable result of its fiscal act; The other hand, appropriate dividend distribution policy, a listed company can establish a good image, Investors continued increase in investment for the majority of listed companies, so that the company's long-term stability and development conditions and opportunities Therefore dividend distribution policy has been a hot topic in academic circles at home and abroad. In this paper, the United States and Japan's listed companies and selected listed companies in China, Dividend distribution from the listed companies as well as the status of implementation of the corresponding dividend distribution background, Dividend drawn for the benefit of China's listed companies in order to improve the distribution of enlightenment and learn. This paper is divided into four chapters:The first chapter is the theory of dividend distribution of listed companies. Dividend and Dividend Policy for the first explain the concept and definition also new accounting standards related to the handling of shares of listed companies shows a brief introduction. Secondly, the Western tradition and modern theory of evolution and the dividend distribution as described, and tax effects theory, Dividend agency cost theory and the theory of signal transduction in the application of a detailed assessment of limitations. We should draw lessons from the West come to the dividend distribution theory, in the light of the special situation of these theoretical breakthroughs. Innovation, thereby establishing a dividend distribution of listed companies with Chinese characteristics theoretical conclusions.Chapter 2 of the major Western companies listed dividend distribution comparative study of the status quo. Dividend distribution options, mainly involving the distribution of dividend in what manner. How to determine the level of dividend distribution of dividend distribution and the stability of the three areas. Therefore, this chapter of the United States, Japan and China's listed companies for the dividend distribution of a detailed comparison of January 1, China also does not regulate the distribution of dividends arising from the negative impact from the listed companies themselves. Investors and the capital market perspectives for analysis.Chapter 3 of major Western companies listed on the dividend distribution background. This chapter selected models of corporate governance and ownership structure (micro). Capital market regulation and control mechanism (macro) the impact of the legal environment (macro) and the representation of the three comparable further analysis.Western listed companies to explain the reason for the different backgrounds of dividend distribution.Chapter 4 is the distribution of dividends from listed companies and enlightening. China's listed companies should be implemented separately in the repurchase of shares of listed companies to improve their investment value. Institutional investors should support the long-term stable development of listed companies in order to revise and improve relevant laws and regulations and three conclusions.