%0 Journal Article
%T Research on the Influence of Non-Tradable Share Reform on Cash Dividends in Chinese Listed Companies
%A Fang Zou
%A Fangjie Su
%A Wei Peng
%J International Journal of Business Administration
%D 2012
%I 
%R 10.5430/ijba.v3n3p11
%X In this paper, authors analyze the influences of non-tradable share reform on cash dividends in Chinese listed companies and find that the distribution intensity of cash dividends has been weakened in listed companies after the non-tradable share reform. The research shows that the non-tradable share reform weakens the ¡°tunneling¡± effect of large shareholder cash dividends. While non-tradable shares of large shareholder are in circulation, the large shareholder agency problem is further eased.
%U http://www.sciedu.ca/journal/index.php/ijba/article/view/1110