We find that share percent of top 5 shareholders, control ability (or combined control ability) and balance degree (or combined balance degree) of bloekholders have important influence on tunneling of cash dividend distribution.
We find that share percent of top 5 shareholders, control ability (or combined control ability) and balance degree (or combined balance degree) of bloekholders have important influence on tunneling of cash dividend distribution.
研究显示，前五大股东的持股比例、大股东控制力（或联合控制力）、大股东制衡度（或联合制衡度）对派发现金股利的“隧道效应”存在重要影响。