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1、上市公司股利分配影响因素分析（Analysisofinfluencingfactorsofdividenddistributionoflistedcompanies）AnalysisofinfluencingfactorsofdividenddistributionoflistedcompaniesAbstract:asanimportantpartofthecompany'sfinancialmanagement,dividendpolicyisnotonlythedistributionontheformationofshareholders'investmentinco
2、me,butalsorelatedtothecompany'sinvestment,financingandstockpriceetc..Itisofgreatimportancetoformulateacorrectandstabledividendpolicy.BecauseofChina'scapitalmarketisnotperfect,thephenomenonofdividenddistributionoflistedcompaniesstillexistunreasonable,sotheeffectofdividendpolicyoflistedcompan
3、ieshasveryimportanttheoreticalvalueandpracticalsignificance.Inthispaper,throughtheanalysisofstatisticaldatafrom2003listedcompaniesinShanghaistockmarket,byusingthemethodofempiricalresearchstudiedtheinfluencingfactorsofdividendpolicyofListedCompaniesinChina,foundthatprofitabilityisthemainfact
4、oraffectingthedividendpolicyofListedCompaniesinchina.Keywords:listedcompaniesdividendpolicyDividenddistributioncashdividendsThedevelopmentofmoderneconomycannotbeseparatedfromthehealthydevelopmentofthestockmarket,whichisthecommonexperienceofalldevelopedcountriesandregionsintheworld.Sincethee
5、stablishmentoftheShanghaistockexchangeinDecember19,1990,China'ssecuritiesmarkethasachievedgreatsuccessafterashortperiodofmorethantenyears.Ithasplayedanimportantroleinthenationaleconomy.Fromthelocalpilothasbecomeamajornationalmarket,listedcompaniesfromdozensofgrowthtothebeginningof20041388,C
6、hina'ssecuritiesmarkettoraiseconstructionfunds,reducefinancialrisk,optimizingtheallocationofresources,playanimportantrole.Butweshouldalsoseethat,comparedwiththeforeignmaturesecuritiesmarket,thesecuritiesmarketofourcountrystillhasmanyproblems,andtheseproblemscannotbesolvedpromptly,ifappropri
7、ate,willseriouslyaffectthehealthydevelopmentofChina'ssecuritiesmarket.Amongthem,thedividendpolicyoflistedcompaniesisafieldworthyofattention.Dividendpolicy,asthecoreissueofprofitdistributionoflistedcompanies,isoneofthethreecorecontentsofmoderncorporatefin
