Notice of RetractionCash dividend policy and mining “tunnel” of interests expropriation

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Cash dividend policy is one of the laws of a company. It is the reflection of the controller´s will and is penetrated with his interest inclination. There are probably three situations in which the controller takes the advantage of the cash dividend to mine a tunnel through which to expropriate on the interests of others: mining tunnel of the operator for expropriation on the interests of shareholders, mining tunnel of major shareholders for expropriation on the interests of minority shareholders, mining tunnel of a company for expropriation on the interests of its creditors. There exists another kind of special interest expropriation tunnel — the one through which non-tradable shareholders expropriate on the interests of tradable shareholders.