| Summary: | 碩士 === 東吳大學 === 國際經營與貿易學系 === 105 === In this paper, the Tobit model is used to study the dividend policy of Taiwan's financial industry, focusing on the total assets growth rate, the pre-cash dividend payout ratio, the inside’s shareholder ratio, the net profit growth rate, the return on assets, the return on equity , company size and the establishment of the period affect the company's cash dividend payment and how to influence. In addition, the situation of dividend payment in the whole market and the financial industry from 1990 to 2015 is discussed. The factors affecting the implementation of dividend policy, pre-cash dividend payout ratio, the net profit growth rate, the return on equity and the time trend are discussed. The least squares method regression is performed for time series analysis.
The results of the regression analysis show that the cash dividend payout ratio is significantly positively affected by the pre-cash dividend payout ratio from the cross-section or the time series, indicating that the company generally prefer a stable dividend policy.
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