现金股利影响因素实证分析

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1、Abstactdividendfactors．1hroughtheestabl．shment0tdummyvariablesHYCZandLRLRLindustrysimplydividedintogrowthindustriesandtheindustl’iesoftherecession，high—profitindustriesandlow—marginindustry．Andthetwodummyvariablesintomultiplelinearregressionmodeltostudythenatureoftheindustrytheimpacto

2、fthedistributionofcashdividends．Thefinalempiricalresultsshowthatmostofthevariablespassedthesignificancetest．Earningspershare，pershareofcashflowfromoperations，thelargestshareholderownership，executivecompensation．thenumberofreportshavesignificantpositiveimpacttocashdividendspershare，whi

3、leretainedearningspershare．asset—liabilityratio，themainbusinessincomegrowthincashdividendspersharehavesignificantreverseimpact．Theinnovationofthispaperistothecreditconditionsfacedbythelistedcompaniesincludedinthestudymodel．Previousstudiestheimpactofinternalfactorsforlistedcompaniesont

4、hedistributionofcashdividends，thepaperextendstheresearchperspective，thestudyreportedthenumberoflistedcompaniesandthecreditscaleasanexternalvariableincludedinthestudymodel．Eventually，thenumberofreportsbythetestofsignificance，andcashdividendspersharehavesignificantpositiveeffectsonthecr

5、editscalevariableanddidnotpassasignificanttest．Theauthorshopethatthroughfurtherstudy，andselectionofmoreappropriateindicatorstodofurtherresearch．Keyword：CashDividend，DividendPolicy，InformationEnvironment目录摘要．．．．．．．．．．．．．．．．．．．⋯．．．．．．⋯．．．．．．⋯．．．．．．．．．．．．．．．．．．．．．．．．．．IAbstFact．．．．．．．．．．

6、．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．II第1章绪论．．．．．．．．．．．．．．．．．．．．⋯．．．．．．．⋯．．．．．．⋯．．．．．．．．．．．．．．．．11．1选题背景和意义．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．11．1．1选题背景．⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯．．⋯⋯．．．．．．．．11．1．2选题意义．⋯⋯⋯．．⋯⋯⋯⋯．⋯⋯⋯．．⋯⋯．．．．．．．．31．2本文研究内容及逻辑结构⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯．⋯．．31．3研究方法．．．．．

7、．．⋯⋯⋯．．⋯⋯⋯⋯．⋯⋯．．．．．．⋯⋯．．．．．．．41．4创新与不足．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．．41．4．1论文创新．．．．．．．．．．．．⋯．．．．．．⋯．．．．．．．．．．．．．．．．．．．．．．．．．．41．4．2论文不足之处⋯．⋯．⋯⋯．⋯⋯⋯．⋯．．．．⋯⋯．．．．．．．．5第2章国内外研究综述与评析．．．．⋯．．．．．．．⋯．．．．．．．．．．．．．．．．．．．．．．．．．62．1国外研究综述与评析⋯．．．．．⋯⋯⋯⋯．⋯⋯．．．．．．⋯⋯．．⋯．．62．1．1同外

8、研究综述．