6Lee, C.J. , Xiao, X. Cash dividends and shareholder expropriation in China [ R ]. Working paper, 2002.
7Chen Donghua, Jian Ming, Xu Ming. Dividends for tunneling in a regulated economy: The case of China [J]. Pacific - Basin Finance Journal, 2009(17) : 209 -223.
8Jensen, M. Agency costs of free cash flow, corporate finance and takeovers [ J ]. American Economic Re- view, 1986 (76) : 323 - 329.
9Lang, Larry H.P. and Litzenberger, Robert H. Dividend Announcements : Cash Flow Signaling vs. Free Cash Flow Hypothesis[ J]. Journal of Financial Economics, 1989, 24 (1): 181 -192.
10La Porta, R. , Lopez - de - Silanes, F. , Shleifer, A. , Vishny, R.W. Investor Protection and Corporate Governance [ J ]. Journal of Financial Economics, 2000 (58) : 3 - 27.