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Dividends in China

In: Experiences and Challenges in the Development of the Chinese Capital Market

Author

Listed:
  • Elisabeth Dedman

    (Nottingham University Business School)

  • Wei Jiang

    (University of Manchester)

Abstract

Why do firms pay dividends? This is a question that has long interested researchers, particularly since the dividend irrelevance proposition of Miller and Modigliani (1961) because, even though their theory (which relies on several assumptions) suggests investors are indifferent between a dollar distributed and a dollar retained in the firm, companies do pay dividends and this seems to be important to investors.

Suggested Citation

  • Elisabeth Dedman & Wei Jiang, 2015. "Dividends in China," Palgrave Macmillan Books, in: Douglas Cumming & Alessandra Guariglia & Wenxuan Hou & Edward Lee (ed.), Experiences and Challenges in the Development of the Chinese Capital Market, chapter 4, pages 68-88, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-45463-8_4
    DOI: 10.1057/9781137454638_4
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    Citations

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    Cited by:

    1. Alessandro Mechelli & Vincenzo Sforza & Alessandra Stefanoni & Riccardo Cimini, 2018. "The Usefulness of Regulatory Capital for Investors’ Judgments in the Basel 3 Framework," International Journal of Business and Management, Canadian Center of Science and Education, vol. 13(6), pages 1-72, April.
    2. Paul McGuinness & Kevin Lam & João Vieito, 2015. "Gender and other major board characteristics in China: Explaining corporate dividend policy and governance," Asia Pacific Journal of Management, Springer, vol. 32(4), pages 989-1038, December.
    3. Wu, Manhwa & Ni, Yensen & Huang, Paoyu, 2020. "Dividend payouts and family-controlled firms—The effect of culture on business," The Quarterly Review of Economics and Finance, Elsevier, vol. 75(C), pages 221-228.

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