Dividends in China

Elisabeth Dedman () and Wei Jiang ()
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Elisabeth Dedman: Nottingham University Business School
Wei Jiang: University of Manchester

Chapter 4 in Experiences and Challenges in the Development of the Chinese Capital Market, 2015, pp 68-88 from Palgrave Macmillan

Abstract: 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.

Keywords: Uncertainty Avoidance; Investor Protection; Chinese Firm; Legal Origin; Dividend Payout (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-45463-8_4

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DOI: 10.1057/9781137454638_4

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