The result indicates that investors haveaninclinationfor the cash dividend, in particular for the continual cash dividend, but ignore the effect of no-cash dividend.
实证结果表明，投资者对现金股利的欢迎尤其是对连续现金股利偏好和对不分配股利的漠视效应。
2
You already have the natural inclinationfor this type of thinking, if not in an academic setting.