Private placements, cash dividends and interests transfer: Empirical evidence from Chinese listed firms

Yu Fang Zhao, Xin Ping Xia, Xiang Xi Tang, Wei Cao, Xiao Yuan Liu and Ying Han Fan

International Review of Economics & Finance, 2015, vol. 36, issue C, 107-118

Abstract: In this paper, the relationship between private placements of common stocks and cash dividends for Chinese listed firms is investigated. It finds that Chinese listed firms pay more cash dividends after private placements than do those that are not involved in placements. Firms with large shareholders participating in private placements pay more cash dividends than those without large shareholder participation. These results indicate that the firms controlled by large shareholders have a high propensity for interests transfer in their cash dividend policies.

Keywords: Private placements; Cash dividends; Interests transfer; Large shareholders (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1059056014001853
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:reveco:v:36:y:2015:i:c:p:107-118

DOI: 10.1016/j.iref.2014.11.011

Access Statistics for this article

International Review of Economics & Finance is currently edited by H. Beladi and C. Chen

More articles in International Review of Economics & Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().