中国上市银行现金股利分配影响因素研究

Factors Affecting the Cash Dividend Distribution of Listed Chinese Banks

现金股利分配是上市银行的重要财务管理活动,合理分配现金股利对上市银行至关重要。基于2009年至2013年上海和深圳两个证券交易所上市的16家银行的数据,从上市银行的盈利能力、负债水平、现金流量和银行规模等方面,选取相应指标构建回归模型进行实证分析,发现盈利能力和负债水平对我国上市银行现金股利分配有显著影响,而现金流量与银行规模对现金股利分配的影响并不显著。

It is significant to distribute cash dividend in a proper manner as the distribution is an important financial management activity of listed banks. With data from 2009 to 2013 of 16 banks listed in Shanghai and Shenzhen Stock Exchange, an empirical analysis is carried out by building a regression model with relative indexes regarding the profitability, liability level, cash flow, and bank size. The analysis proves that profitability and liability level prominently affect the distribution of cash dividend of listed Chinese banks;however, cash flow and bank size exert less influence.