Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/31743
Title: Dividend preference of tradable-share and non-tradable-share holders in Mainland China
Authors: Cheng, LTW 
Fung, HG
Leung, TY
Keywords: Cash dividend
Dividend signal
Non-tradable share
Stock dividend
Issue Date: 2009
Publisher: Wiley-Blackwell
Source: Accounting and finance, 2009, v. 49, no. 2, p. 291-316 How to cite?
Journal: Accounting and finance 
Abstract: Comprehensive data on corporate announcements of Chinese firms allows us to examine the preference for, and determinants of, cash and stock dividends. The results indicate that Chinese public investors prefer stock dividends over cash dividends, which are preferred by large state and legal person shareholders generally. Stock dividends, which do not require an explicit cash outflow from a firm, are found to be positively related to higher earnings, supporting the signalling hypothesis of dividend policy. In an imperfect market, these results have some implications for government regulation of financial markets.
URI: http://hdl.handle.net/10397/31743
ISSN: 0810-5391
EISSN: 1467-629X
DOI: 10.1111/j.1467-629X.2008.00284.x
Appears in Collections:Journal/Magazine Article

Access
View full-text via PolyU eLinks SFX Query
Show full item record

SCOPUSTM   
Citations

21
Last Week
0
Last month
0
Citations as of Jul 28, 2017

WEB OF SCIENCETM
Citations

21
Last Week
0
Last month
0
Citations as of Aug 21, 2017

Page view(s)

49
Last Week
5
Last month
Checked on Aug 21, 2017

Google ScholarTM

Check

Altmetric



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.