data for 《Mandatory Dividend Can Change The Cash Dividend Policy of Enterprises?》

In view of the research purpose of this paper, non-financial a-share listed companies from 2007 to 2017 are mainly selected as the research data, and the samples are screened as follows :(1) companies such as ST, ST* and ST** are excluded; (2) excluding companies listed in both B shares and H shares; (3) excluding companies that have been listed for less than one year; (4) excluding companies with no observed value for 7 consecutive years; (5) in order to avoid the influence of outliers on the experiment, samples with cash dividend ratio greater than 1 and less than 0 are excluded in this paper; (6) eliminate companies that cannot make profits; (7) in order to avoid the influence of extreme values on the empirical results, this paper conducted Winsorize treatment of upper and lower 1% for all continuous variables. Through screening the sample companies, 1633 effective sample companies and 17,963 valid data were obtained.