Empirical Study On The Influencing Factors Of The Dividend Policy Of China's Listing Corporation

As one of the three core financial policy concerning the modern enterprises,the dividend policy is a policy which decides to how to distribute profit after drawing surplus accumulation funds and public welfare funds.Dividend policy involves multiple coherent interest,the steady dividend policy not only help to maintain the development of the capital market,also help listed companies to establish a prominent image,strengthen investors ‘confidence,leading to the stability of stock price and its healthy development.This paper focus on related analysis of the dividend policy of listed companies' present status,choose empirical analysis method to study the key elements affecting dividend policy,in order to provide necessary reference for the establishment of dividend policy of listed companies.On the base of theory analysis,this paper is capable to analyze the influence factors of our dividend policy of listed companies with means of descriptive statistics,empirical analysis,furthermore,provides some practical suggestions for those companies from both internal and external aspects,which may supply necessary reference for the optimization of Listed Companies Dividend Policy.In this paper,through the data collection,it is known that majority listed companies in China still prefer dividend distribution,with cash dividend as the most common dividend payment,while the overall level of payment is also on the rise.Carry out corresponding empirical research of the factors which influence dividend policy of Chinese listed companies and affecting elements of listed companies whether to pay dividends and cash dividend payment,by research hypothesis,sample selection,variable design and research methods.Through the regression analysis,the parameters of factors estimation,the hypothesis whether the study object is affected,the influence direction is negative have been draw out and verified.According to the analysis results,regarding the specific situation of China securities market,from two aspects-internal governance and external supervision,relevant optimal dividend policy has been proposed.Finally,it comes to the conclusion of this article..