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

Although recently the Chinese listed companies have experienced a fast development,and some measures have be taken to perfect the Chinese capital market, there still exists irrational dividend allocation phenomenon.In fact,dividend policy plays an extremely important role incorporate financial management activities,equally important as financing and investment policies.There are some common characteristics in Dividend Policy of the listed companies in China:a smaller number of companies that pay Cash Dividend:a low level of cash distribution;widespread of non-distribution of listed companies:a narrow mind of listed companies on Dividend Distribution,which lacks of continuity and stability in dividend policy.But US and so on some developed country listed companies.The dividend policy has the dividend payment rate high, characteristics and so on dividend payment relative stabilization.The consummation stock market,the reasonable stockholder's rights structure,have the direction tax policy, the strict government supervision and so on are form the US listed companies dividend policy the primary cause.This article analyzes and compares the China and US listed companies' dividend assignment the present situation and the difference.Has carried on the thorough discussion to reason.Profits from the US mature capital market the experience and refers to the Western dividend assignment theory,proposed that consummates our country listed companies dividend assignment policy.The main mentality is first elaboration listed companies dividend assignment theory,elaborated the dividend concept and the form separately,new accounting standards to dividend assignment new stipulation dividend assignment policy concept and fundamental type.As well as the Western dividend policy the limit which applies in our country listed companies.Next carries on to the China and US listed companies' dividend assignment behavior's present situation quite studies,mainly involves by what way assignment dividend,how to determine the dividend assignment level and the dividend assignment behavior stable and so on three aspects.Then analyzes the reason which the China and US listed companies' dividend assignment difference,mainly governs the pattern aspect from the company and stockholder's rights structure,capital market supervision and restraint mechanism aspect,the impact of the legal environment and the representation of the three comparable further analysis..Finally obtained our country listed companies should enhance the dividend payment rate to enhance listed companies value of each contribution rate,should support the institutional investor in order to revise and improve relevant laws and regulations and three conclusions.