4[5]Claessens, S., Djankov S., and Lang L.H.P., 2000, The Separation of Ownership and Control in East Asian Corporations, Journal of Financial Economics 58, 81-112.
5[6]Fama, E. F. and K. R. French, Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay? Journal of Financial Economics 60, 2001, PP3-43.
6[7]Grullon, G., Michaely, R., 2002. Dividends, Share Repurchases,and the Substitution Hypothesis. Journal of Finance, VOL. LVⅡ,NO.4, Aug. 2002.
7[8]Jensen, M., Meckling, W., 1976. Theory of the Firm: Managerial Bbehavior, Aagency Ccosts, and Ownership Structure. Journal of Financial Economics 3, 305-360.
8[9]La Porta, R., Lopez-de-Silanes, F., Shleifer, A., 1999. Corporate Ownership Around the World. Journal of Finance 54, 471-517.
9[10]Lee, C.J. and Xing Xiao, 2002, Cash Dividends and Large Shareholder Expropriation in China, working paper.
10[11]Lintner, J., 1956, Distribution of Incomes of Corporations Among Dividends, Retained Earnings and Taxes, The American EconomicReview 46, 97, 113.
