| 摘要 | 第1-15页 |
| ABSTRACT | 第15-16页 |
| 1. Introduction | 第16-21页 |
| ·Background and motivation of the thesis | 第16-18页 |
| ·Related concepts and knowledge | 第18-19页 |
| ·The thesis' structure | 第19-21页 |
| 2. Literature review | 第21-36页 |
| ·Theories of dividend policy | 第21-25页 |
| ·Classic theories | 第21-23页 |
| ·Modern theories | 第23-25页 |
| ·Literatures related to determinants of dividend policy | 第25-31页 |
| ·Literatures supporting signaling theory | 第25-28页 |
| ·Literatures supporting agency cost theory | 第28-30页 |
| ·Literatures supporting tunneling theory | 第30-31页 |
| ·Literatures related to market reactions to dividend announcements in China | 第31-33页 |
| ·Literatures related to differences between Hong Kong and Mainland China markets | 第33-34页 |
| ·Summary | 第34-36页 |
| 3. Hypotheses | 第36-40页 |
| ·Hypotheses about influencing factor from macro level | 第36-37页 |
| ·Hypotheses about interactions between macro and micro level factors | 第37-40页 |
| 4. Regression analysis | 第40-62页 |
| ·Variables and models | 第40-42页 |
| ·Data selection and screening | 第42-43页 |
| ·The regression analysis of all A-share companies | 第43-49页 |
| ·Descriptive statistics of the full sample | 第43-44页 |
| ·Correlation analysis of the full sample | 第44-46页 |
| ·Regression results of the full sample | 第46-49页 |
| ·Regression analysis of A+H companies | 第49-56页 |
| ·The selection of A+H companies and their matched companies | 第49-50页 |
| ·Descriptive statistics of A+H companies | 第50-51页 |
| ·Correlation analysis of A+H companies | 第51-54页 |
| ·Regression results of A+H companies | 第54-56页 |
| ·Regression analysis of the combined sample | 第56-62页 |
| ·Propensity to pay | 第57-58页 |
| ·Payout ratio | 第58-59页 |
| ·Dividend Yield | 第59-62页 |
| 5. Market reactions in different markets for A+H companies' dividend announcement | 第62-67页 |
| ·Methodology | 第62-64页 |
| ·Data processing | 第64-65页 |
| ·Result | 第65-67页 |
| 6. Conclusions and limitations | 第67-70页 |
| 7. References | 第70-75页 |
| 后记 | 第75-76页 |
| Appendix 1 Data processing of the matched A-share sample | 第76-79页 |
| Appendix 2 Correlation analysis of the combined sample | 第79-80页 |
