Do Managers Cater to Investors by Paying Dividends?

DOI

10.2991/febm-16.2016.75How to use a DOI?

Keywords

catering theory; PTP; PDND; cash dividend; listed company

Abstract

This paper mainly discuss the applicability of the catering theory in stock market in China. We particularly use the 2009-2014 stock market data as the sample after the equity division reform and the financial crisis. We use PTP to represent the supply of cash dividends of listing corporations and PDND to represent the demand of cash dividends of investors. We find the both have the same trend through the logistic regression, that is to say, the catering theory well explains chinese stock market

Copyright

© 2016, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Huanhuan Dong
AU  - Huangjin Liu
PY  - 2016/11
DA  - 2016/11
TI  - Do Managers Cater to Investors by Paying Dividends?
BT  - Proceedings of the First International Conference Economic and Business Management 2016
PB  - Atlantis Press
SP  - 485
EP  - 490
SN  - 2352-5428
UR  - https://doi.org/10.2991/febm-16.2016.75
DO  - 10.2991/febm-16.2016.75
ID  - Dong2016/11
ER  -