| 中文摘要 | 第3-6页 |
| List of Tables and Figures | 第9-10页 |
| Ⅰ. INTRODUCTION | 第10-20页 |
| A. Cash dividend Theories and China securities market characteristics | 第10-16页 |
| B. Questions and hypothesis about cash dividend policy in China | 第16-20页 |
| Ⅱ. RESEARCH REVIEW | 第20-29页 |
| A. Modigliani and Miller's perfect world | 第20页 |
| B. Earlier behavioral models of dividend policy | 第20-21页 |
| C. Signaling theory and its challenging | 第21-22页 |
| D. Agency theory and its problems | 第22-23页 |
| E. Clientele Theories in new evidence | 第23-24页 |
| F. Firm Life-Cycle Theories: A new challenger | 第24-25页 |
| G. Catering Theory of Dividends | 第25-26页 |
| H. Theories of Investor and Managerial Biases | 第26-27页 |
| I. New Direction: Social norm and Investor Demand | 第27-29页 |
| Ⅲ. SAMPLE SELECTION AND DATA DESCRIPTION | 第29-33页 |
| A. 2005-2007 dividend announcements data | 第29页 |
| B. Sub-mandatory dividend policy by CSRC on Oct. 9, 2008 data | 第29-31页 |
| C. Controlling variables | 第31页 |
| D. Single and Multiple regression models | 第31-33页 |
| Ⅳ. DATA ANALYSIS AND EMPIRICAL RESULT | 第33-55页 |
| Ⅴ. SUMMARY AND CONCLUSIONS | 第55-61页 |
| ACKNOWLEGENMENTS | 第61-62页 |
| REFFERENCES | 第62-67页 |
