股利迎合理论

其次，从行为金融学角度阐述了自我控制理论、心理账户理论、股利迎合理论、后悔厌恶理论、预期理论等相关概念。

Secondly , it gives an overview of self-control theory , mental accounting theory , catering theory of dividends , aversion-to-regret theory , prospect theory and other related concepts from the perspective of behavioral finance .

但是，由于我国特殊的股权结构和薄弱的法律保护，加上不同学者选择的样本及公司特征检验指标不尽相同，股利迎合理论的实证检验结果并不一致。

However , due to our special ownership structure and weak legal protection , and selected samples of different academics and corporate characteristics test indicators are not the same , dividends to cater to the theory of empirical test results are not consistent .

本章采用Tobit模型，把管理者股利羊群行为和股利迎合理论放在同一个模型内联合检验，同时考察是否支付与支付水平高低问题以克服可能存在的样本选择偏差。

Tobit model was used in this chapter to examine both herding and catering theories in one single model and to study whether to pay and how much to pay at the same time .

本章首先介绍了行为股利政策理论的产生过程，指出目前行为股利政策可能的两个发展方向为股利迎合理论和股利羊群行为理论。

The chapter shows how the behavior dividend policy was formed and then points out two possible branches developing from it - the catering theory and the herding theory of dividend .