Analysis among shareholders, creditors and government conflicts in cash interest division approach to game theories

One of the most arguable discussions in financial and investment scope is cash interest division of companies and has considered by the great numbers of economists and directors. Therefore, this article shall be study the relationship among shareholders, creditors and government considering to dividend policies approach to game theories.
Playing of three players is kind of pure Constant-sum gamer considering to Perfect Information and Non- zero sum game, and any of the players has three strategies in decreasing of paid cash interest and increasing and preserving of current status.  The balance point among three players is viewpoints that shareholders are tend to conserve current status and government and debtors tend to decreasing of cash interest.  But Board of Director members, managing directors and other directors are assigned directly or indirectly by the shareholders, therefore directors’ decisions may be different from balance point and it shall result in their viewpoints be considered more preferable than the others.