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政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 > Item 140.119/70693

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/70693

Title:	Ownership Structure and Dividend Preference: The Evidence of China’s Listed Firms
Authors:	陳嬿如 Lin, Yi-Hua;Chiou, Jeng-Ren;Chen, Yenn-Ru
Contributors:	財管系
Keywords:	dividend preference;ownership structure;state-owned shares
Date:	2010.02
Issue Date:	2014-10-22 12:26:38 (UTC+8)
Abstract:	Most Chinese listed companies have been transformed from state-owned enterprises; the resulting institutional transformation is characterized by the emergence of highly concentrated ownership and state-owned shares, which may exert an influence on corporate finance. We examine the relationship between ownership structure and cash dividend preference and then reexamine the same relationship with different levels of growth opportunities. The results reveal a positive relationship between cash dividend preference and state ownership, but the same relationship exists only in firms facing lower levels of investment opportunity. However, the ratio of employee shares and tradable shares correlates significantly and negatively with cash dividend preference.
Relation:	Emerging Markets Finance & Trade, 46(1), 54-70
Data Type:	article
DOI 連結:	http://dx.doi.org/10.2753/REE1540-496X460106
DOI:	10.2753/REE1540-496X460106
Appears in Collections:	[財務管理學系] 期刊論文

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