shareholders. However, due to the weaker investor protections and low dividend payouts of listed firms in China, large shareholders …According to classic corporate governance theory, strengthening large shareholders' cash flow rights without changing … rights than cash flow rights. An empirical study using the exogenous changes of two rounds of dividend tax reductions reveals …

control rights and the types of control of the ultimate controlling shareholders (UCSs) of listed firms in China influence … pay and the level of cash dividend payout, which indicates that the ultimate controlling shareholders are likely to use … firms' cash dividend policy. The difference might stem from the historical nature of these ultimate controlling shareholders …

Based on agency theory, we focused on the influence of corporate governance in the dividend policy of large listed … on the performance and risk of listed firms, but the influence of corporate governance on the dividend policy has rarely … been addressed despite the importance of dividends for shareholders and the implications on the free cash-flow, whose …