Southeast-Asia Family Governance To Dividend Decision Influence Research And Notice To China

The corporate governance theory has been systemically researched since 1980s, which developed by 20 years. This article reviews corporate governance research literature in the domestic and abroad. It puts the research emphasis on family governance mode. For south-east Asia and China corporate whose main trait is share concentration, the theory's foundation commission agent should choose"dual commission agent", which is agent problem between manager and shareholders and agent problem between family controlled and little shareholders. Then combined with dividend decision, south-east Asia family corporate aims to not all shareholders benefit maximization but family controlled self benefit maximization. This fault should be avoided in Chinese family corporate governance.The article research method adopts OLS and Logistic, together with SPSS statistics software. Specimen is selected from 9 south-east Asia family corporate. After based model, demonstration research proves 2 hypotheses. The 2 conclusions are: the higher cashflow right family controlled owned, the higher dividend rate is; the higher separation degree between control right of family controlled and cashflow right is, the lower dividend rate is. Combining Chinese practice, I select recent 7 years family listed companies data from Shanghai,Shenzhen Stock Exchange to demonstrate research and in the end draw the same conclusions. To perfect Chinese family corporate governance and dividend decision to develop well, I put forward a series of suggestions.