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Second, the dividend policy and corporate governance investigation relationship in between the two foreign scholars,MAC eyeshadow, including investigation performed: Jensen & Meckling (1976) that the dividend policy will help ease the managers and shareholders rooms, as effectively as among the shareholders and creditors, the company conflict. Easterbrook (1984) also think that the dividend as an powerful mechanism to decrease company expenses the company is an powerful alternative corporate governance mechanisms. Dividend policy and managerial ownership Rozeff (1982) discovered that between 1974 and 1980, the dividend payout ratio and the proportion of shares held by management of damaging correlation,mbt sneakers sale, and the dividend compensated to equity ratio the much more the far more dispersed large Sornnate (1989) examine arrive manager of the Firm and the dividend payout ratio of optimistic correlation George W. Fenn and Nellie Liang (2001) located only in high managerial ownership companies in the position of the agency issue was considerable,oakley sunglasses outlet, it dividend payment is connected. They pointed out that managerial ownership can far better the interests of management and shareholders will be connected to a greater degree of dividend payments. Dividend policy and ownership focus Johnson et al (2000), hollowed-primarily based assumption that ownership concentration will trigger a big shareholder and minority shareholders of a critical agency difficulty between huge shareholders are inclined to use their fingers to handle ,abercrombie fitch united kingdom, the use of dividend policy in the transfer of resources from the listed companies, resulting in infringement of minority shareholders. Faccio, Lang and Young (2000) research showed that 50 percent of the Western European businesses, and the East Asian business groups to varying degrees, major shareholders controlling outside shareholders by way of dividend policy, the situation of plunder. That ownership focus and dividend policy is relevant.
On the issue of scholars have conducted numerous reports: Lv Changjiang, Wang Kemin (1999) 1996,1997 and listed organizations in Shenzhen and Shanghai in late 1998 to spend money dividends for the sample of 372 companies, double phase approach, arrive to our detailed businesses by the company expense of dividend distribution policy, the diploma of state-owned and legal man or woman controlling components. Chan Kwok-fai, Zhao Chunguang (2000) located that ownership focus has nothing to do with the dividend policy, dividend policy on the effect of state shares weak. Zhaochun Guang, Zhang Xueli, Ye Long (2001) study the stock markets of 1999 the alternative of dividend policy determination, regardless of whether the distribution of stock dividends and located that ownership focus, regardless of whether the distribution of dollars dividends and the connected asset-liability ratio. Liao Li, Fang Fang (2004) located that the management agency for the large expense of holding money dividend the company has a substantial enhancement. As for the very low company costs of the company’s dividend is not substantial. Xie Jun (2006) discovered that free dollars flow of the marketplace confirmed the idea, the denial of the possibility to modify the dividend policy.
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Corporate governance and dividend policy on the connection among the Evaluation
<div fashion= [Paper Keywords and phrases] dividend policy, corporate governance, agency fees [Abstract] dividend policy and corporate governance are quite critical. Latest analysis has mentioned that corporate governance in the value of the alternative of dividend policy, corporate governance and dividend policy of the substitution impact. This corporate governance and dividend policy on the relationship between a systematic review of research,low-cost oakleys, evaluation of the inadequacies of the existing literature, for the individuals of the corporate governance and dividend policy and to offer evidence.
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