文章基本信息

标题：Shareholder wealth effect of dividend policy: Empirical evidence from the Chinese securities market
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作者：Yanxin Yi ; Dagang Ke ; Xiao Zhang 等
期刊名称：Frontiers of Business Research in China
印刷版ISSN：1673-7326
电子版ISSN：1673-7431
出版年度：2007
卷号：1
期号：3
页码：437-455
DOI：10.1007/s11782-007-0026-8
出版社：Higher Education Press, co-published with Springer-Verlag GmbH
摘要：Based on the special separated equity management structure of the listed companies in China and using a sample of the listed companies with distributed dividend in 2003 and 2004, this paper tests the shareholder wealth effects of dividend policy in Chinese separated equity market. Results show that shareholders of non-circulating stock get a high return rate by cash dividends, and circulating shareholders obtain a high short-term return rate by stock dividends.
关键词：dividend policy; shareholder wealth effect; blockholders
其他关键词：股利政策，股东财富效应，控股股东