Research on the cash dividend influencing factors applied the data-mining technique: A validating study based on listed companies in China

Dividend policy, part of the core issues of the corporate finance, always drawn close attention. Western corporations always follow the dividend theory and pay high stable cash dividends in order to promote the corporate value. In contrast, the dividends level in China is much lower, discontinuous and random. This is diametrically against to the western´s dividends theory and practice. In this paper, I apply data mining technique analyzing the affected factors of Chinese corporations´ dividends policy and study the applicability of western dividends theory in China. Applying the data mining technique, I got the correlation ship between corporate characters portfolio and dividend policy, which may provide reference for corporate dividend policy and investor´s optimism of investment portfolio.