From the perspective of value of dividend distribution policytheDividend distribution policy as one of the three financial decisions in the company management， and plays an important role to choose proper relationship， to the financing channels of financing costs， and the rationality of the capital Moderate dividend policy is advantageous to the ownership structure and external threat facing in the company to provide effective takeover when the defense shield， thus helps the company， and realize the sustainable development of stable value (stockholder wealth maximization) Based on understanding of dividend distribution theories， China and the United States securities markets were compared， and listed on Shanghai stock exchange on the pharmaceutical industry of listed company in 2007， dividend distribution situation Using the weighted average dividend distribution and the statistics of price changes， the announcement that companies combined signal transmission theory value and relationship of dividend distribution policy in China， and get some aspects of dividend distribution Keywords: share-trading reform， dividend distribution policy dividend and stock market theory， comparison
Value from the company point of view of dividend distribution policy Abstract Dividend distribution policy as one of the three major financial decision-making in the company plays a vital role， select a suitable company or not related to the financing channels for the flow of traffic or not， the high and low financing costs and capital structure is Appropriate dividend policies are conducive to the stability of the company ownership structure， and in the company when faced with external threats to take over the defense to provide an effective barrier， which is conducive to the stable and sustainable business development and corporate value (shareholder wealth) In this paper， the distribution of dividends related to the theoretical understanding of China and the United States compared with the stock market and listed on the Shanghai Stock Exchange listed companies in the pharmaceutical industry in 2007 to analyze the distribution of Statistics using the weighted average of the dividend distribution of stock price changes both before and after the announcement， combined with signaling theory that the value of the company and the relationship between the dividend distribution policy， and dividend distribution policy in China some Key words: split share structure reform， the dividend distribution policy， the dividend related to the theory of comparative Sino-US stock market
Value from the company point of view of dividend distribution policyDividend distribution policy as one of the three major financial decision-making in the company plays a vital role， select a suitable company or not related to the financing channels for the flow of traffic or not， the high and low financing costs and capital structure is Appropriate dividend policies are conducive to the stability of the company ownership structure， and in the company when faced with external threats to take over the defense to provide an effective barrier， which is conducive to the stable and sustainable business development and corporate value (shareholder wealth) In this paper， the distribution of dividends related to the theoretical understanding of China and the United States compared with the stock market and listed on the Shanghai Stock Exchange listed companies in the pharmaceutical industry in 2007 to analyze the distribution of Statistics using the weighted average of the dividend distribution of stock price changes both before and after the announcement， combined with signaling theory that the value of the company and the relationship between the dividend distribution policy， and dividend distribution policy in China some
