The Research And Analysis Of Investment Oppotunity Of The High Stock Dividends Behavior Of A Share Listed Companies

This thesis analyzed the historical facts of the high stock dividendsbehavior in the A share market and proved that high stock dividendscould bring return to the investors based on the statistics of all the highstock dividend samples between2001and2010.The thesis then stated that the listed companies may evade tax, makesignals to the capital market, improve liquidity, and realize market valuemanagement etc. by the means of high stock dividends.The thesis aimed to incorporate investment with theory. The authordeveloped model of high stock dividend filter after proving therelationship between high stock dividends and ratio of institutionalinvestor, the length since IPO, the scale of total capital shares. The modelwas designed to improve hit rate of companies with high stock dividendspotential and gain excess return during the period. The result of the modelduring2011annual report period was satisfied with positive excessreturn.