원문정보
초록
영어
In this paper we investigate the effects of corporate ownership structure on dividend policy in the two different economic regimes: The People’s Republic of China and The Republic of Korea. We compare the ownership structure and financial status of firms, build a model to compare the effects of different ownership structure and analyze the determinants of corporate cash dividend policy in China and Korea. As a result, we have found that the preferences for dividend of major shareholders of firms in both countries are quite different, that dividend level in China has a significant and positive relationship with the largest shareholder’s and state ownership, while dividend level in Korea does not, and that dividend per share has a positive relationship with earning per share but without any relationship with cash ratio in China, while it has a positive relationship with cash ratio but without any relationship with earning per share in Korea.
목차
1. Introduction
2. Institutional background of the China and Korea
3. Literary review and research hypothesis
4. Data and Test Results
4.1. Data
4.2. Model
4.3. Descriptive Statistics
4.4. Correlation Analysis
4.5. Regression Results
5. Conclusion
References