The Empirical Analysis of Dividend Distribution of Listed Companies Based Agency Theory

2009 ◽  
Author(s):  
Jin-jin Zhao ◽  
Jing Qi
Keyword(s):  
Agency Theory ◽  
Empirical Analysis ◽  
Listed Companies ◽  
Dividend Distribution ◽  
The Empirical Analysis

scholarly journals Analysis on the Effect of Chinese Medical Reform Policy on Medical Listed Companies -- Empirical Analysis on Listed Companies’ Stocks Returns

2018 ◽  
Vol 9 (2) ◽  
pp. 20
Author(s):  
Xiaoqian Fu
Keyword(s):  
Empirical Analysis ◽  
Study Finding ◽  
Listed Companies ◽  
Systemic Reform ◽  
Private Hospitals ◽  
Medical Reform ◽  
Stock Market Reaction ◽  
Industrial Planning ◽  
The Government ◽  
The Empirical Analysis

This paper studies the stock market reaction of medical reform policies to examine policies’ effect on the listed companies which invested in hospital. This paper applies the method of Event Study, finding out that the announcement of the new round of medical and health systemic reform in 2009, the key work for medical and health systemic reform and its detailed rules of implementation in 2010, and the setting of several specific goals to develop the private hospitals run by civilians in 2012, have taken increases of listed companies’ stocks returns (rate of return) by 2.95%, 4.64% and 4.92% separately. That means the whole market value rose by almost 55 billion, 128 billion, and 131 billion of RMB respectively. The empirical analysis results show that share price’s return rate of the listed companies which invested in hospital are significantly associated with industrial planning and supporting policies launched by the government. That is to say, Chinese government’s policy which began to encourage and guide civilian capital to develop the medical industry stimulated the medical and health industry effectively and significantly.

scholarly journals Meeting Dividend Thresholds Through Earnings Management of Listed Companies in South Africa

2020 ◽  
pp. 77-95
Author(s):  
Xin Yao Li ◽  
Pei-Wen Chen
Keyword(s):  
South Africa ◽  
Earnings Management ◽  
Regression Model ◽  
Agency Theory ◽  
Prospect Theory ◽  
South African ◽  
Listed Companies ◽  
Study Data ◽  
Signal Theory ◽  
Dividend Distribution

Dividend distribution influences corporate operating decisions, and the prior year’s dividends represent an earnings threshold. The purpose of this study was to clarify perceptions regarding the manipulation of income toward a desired earnings goal (i.e., dividend threshold). In this study, data from 2011 to 2019 were collected from the S&P Capital IQ database. A regression model was adopted to analyze the manipulation of income toward a dividend threshold (i.e., desired earnings goal) among South Africa’s listed industry. Moreover, the behavior of managers of listed South African firms tended to meet or exceed dividend thresholds by manipulating earnings, which is consistent with signal theory, prospect theory and agency theory. Keywords: Dividend thresholds, Earnings management, South Africa, Signal theory, Prospect theory.

scholarly journals Can Managing Overseas Experience Improve Investment Efficiency

2021 ◽  
Vol 14 ◽  
pp. 108-122
Author(s):  
Yuchao Zhou ◽  
Caixia Zhou
Keyword(s):  
Empirical Analysis ◽  
Listed Companies ◽  
Investment Efficiency ◽  
Empirical Results ◽  
Corporate Executives ◽  
The Impact ◽  
The Empirical Analysis ◽  
A Share

The efficient investment of enterprises is inseparable from the professional ability of managers. It has been found that the overseas experience of corporate executives can improve the investment ability of managers.This paper takes Shanghai and Shenzhen A-share listed companies from 2004 to 2020 as the research object, and investigates whether managers' overseas experience can improve the investment efficiency of enterprises. The empirical analysis results show that enterprises with overseas managers can improve the phenomenon of over investment, but the impact on the underinvestment is not significant.Based on the empirical results, it is found that the characteristics of managerial returnees have different impacts on enterprises in different industries. Compared with export-oriented enterprises, the characteristics of managerial returnees have more significant impacts on export-oriented enterprises.The reason for these results may be that managers' overseas experience is more conducive to the development of non-export-oriented enterprises.

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