【摘要】 由于有些上市公司发放数额不等的红利,有些公司根本就不分配红利,因此上市公司红利发放变量的取值是不连续的,并受到了某种限制。红利分配模型经常对这一问题予以忽视,直接把红利发放变量当作连续型变量进行处理,这显然是不合适的。把红利发放变量当作离散与连续的混合型变量,运用Tobit模型对2001年我国上市公司红利分配的影响因素展开实证研究,能够更好地解释我国上市公司的红利分配行为。更多还原

【Abstract】 Some companies pay dividends,others do not.This necessitates the use of limited dependent variable models in the analysis of dividend behavior.Models of dividend behavior usually ignore these problems and treat dividends as a continuous variable. This paper analyzes empirically the factors which influence dividend behavior by using the data of 1058 Chinese listed companies in 2001.We conclude that the Tobit model can appropriately explain the Chinese listed companies’dividend behavior.更多还原