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In recent years, due to the continuous improvement of the capital markets, dividend policy as an important factor is becoming more and more important for the vast number of investors, shareholders and enterprise operators. The signal that different dividend polices convened is different. In the company's actual operation process, the choice of the dividend policy will be affected by many aspects, such as the company's future financing needs, current operating conditions and ownership concentration. But in our country, due to the influence of the policy, as well as the particularity of state-owned listed companies, the dividend policy selection has difference with other enterprises. In this paper, we will use the power’s data of listed companies as samples.

An Exploratory Analysis of the Effects of the Ownership Concentration on the Chinese State-owned enterprises of the Electric Power Industry