爱尔兰留学生论文:上市公司股利分配问题研究 [13]
论文作者:英语论文论文属性:硕士毕业论文 thesis登出时间:2014-08-11编辑:yangcheng点击率:23691
论文字数:8971论文编号:org201408091841555264语种:英语 English地区:中国价格:免费论文
关键词:上市公司股利分配问题研究problem
摘要:本文是一篇爱尔兰留学生论文,文章主要研究上市公司股利分配。当下来说,中国上市公司股利分配存在许多疑问,这其间既有上市公司股权结构歪曲内部要素,也有证券商场开展不行完善等外部要素的影响。上市公司不规则的股利分配方对于商场、投资者、公司都产生了负面影响。股利方针作为公司的中心财政疑问之一,一向遭到各方面的亲近关注。股利的发放关系到公司股东和债券人的利益,又关系到公司将来的持续开展。因而,拟定一个合理的安稳的股利方针市非常重要的而且经过与国外上市公司的股利分配方针与中国上市公司比较,有很大的区别。汲取国外上市公司股利分配方针的利益,联系中国的实际情况,这篇文章首要对于中国上市公司股利分配存在的疑问,剖析起成因,终究提出标准中国上市公司股利分配的对策主张。
loped countries the
main form of dividend distribution of listed companies, the dividend payment
rate in these countries are at a higher level; Equilibrium is now stable
shares, maintain the company's market image, the best choice to reduce the
company's future financing costs, and also for use by a considerable amount of
listed firms abroad. And most of the listed companies inChinais not
assigned, keen to send bonus, or by less send now to reach the goal of share
allotment 'circle money'. The differences of this kind of dividend
distribution, is, in fact, the Chinese and foreign differences in behaviour of
listed companies performance and the inevitable result directly. Considering
the dividend policy is directly related to the capital market, to achieve the
goal of regulation of the securities management should put the dividend policy
of listed company supervision as an important regulatory content, and take
effective measures to improve the efficiency of regulation and quality.
Third, some countries through the legislation form required to pay cash
dividends of listed companies, this is 'insider' behavior constraints
company, solve the problem of agency and is the effective means to protect the
interests of shareholders. In this highly centralized equity ownership
structure of listed companies, listed companies behavior anomie seriously
realistic cases, also should improve the legal environment in our country, the
legislation in this aspect, through compulsory measures with a legally binding,
forcing firms to treating shareholder ', 'realize the rationalization
of dividend distribution behavior. Shareholders should learn to
'yourself', must be good at to use legal weapons to protect their own
interests from damage.
Fourth, in state shall practise a system of stock repurchase, share repurchase
as a form of dividend distribution, has the irreplaceable role of cash
dividend. This form of dividend distribution of our country can also be used
for reference. Should cooperate with the managers of listed companies shall
practise a system of stock options, consider allowing for stock repurchase of
listed companies.
6. Decision factors of dividend policy
of listed companies in our country
6.1 the macroeconomic and policy changes affect the dividend distribution
of listed companies
Macroeconomic and policy changes affect the listed company's dividend
distribution policy throughout characteristics of dividend distribution of
listed companies can be found in our country, once the macroeconomic situation,
the state implement a proactive fiscal policy and prudent monetary policy, and
makes the rapid development in quantity and scale of listed companies, listed
companies to obtain funding channels is more, can profit from the company and
even bank loan debt financing cash dividend, the proportion of cash dividends
of listed companies showed a sharp rise, many companies and send me now. Once
the economy is overheating, countries will tighten monetary policy, especially
relevant policies issued by the securities supervision department, is limiting
its dividend cash directly. When making dividend policy of listed companies,
more consider enterprise's development needs, and the secondary market price
performance, reduce the big shareholder interests through high sent now occupy
the mot
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