| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5083734 | International Review of Economics & Finance | 2013 | 20 Pages |
Abstract
⺠We examine how the pyramidal ownership affects the dividend policies in China. ⺠The state-controlled firms pay higher dividends than privately owned firms. ⺠The privately owned firms pay lower dividends due to more capital-constraint. ⺠A negative relation exists between the length of the control chain and dividends. ⺠The finding shows the use of the internal capital markets in firms under pyramids.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
William Bradford, Chao Chen, Song Zhu,