The formulation and implementation of cash dividend policy has become the key concents of corporate financial decisions. In the recent market economic system, the dividend policy is always the focus of list companies in China, whose formulation results from the mutual game among different interest groups in internal company aiming to reflect the appeal of interest subject, which not only concerns the rights and interests of shareholder, but will affect the fundamental interests of creditor. Therefore, capital structure plays an important role in the formulation of dividend policy.In the recent years, the domestic scholars have conducted empirical researches on the corporate dividend policy in China based on the relevant foreign theoretical foundations. The cash dividend policy in China securities market showed different characteristics compared with mature capital market. Therefore, the research on cash dividend policy of listed company in China shall conduct rigorous empirical research through repeated attempts on the basis of the national condition. This paper conducted empirical research on the correlation between capital structure and cash dividend policy of real estate listed company in China based on the data in the corporate financial reports, relevant theories on dividend policy and the review of numerous domestic and overseas related literatures. The empirical research results indicated that the real estate listed company in China exist the common phenomena including low cash dividend distribution level and high assets and liabilities level; the assets and liabilities level, ownership concentration, equity restriction ratio of real estate listed company in China shared significant relationship with corporate cash dividend per share. |