本文選題：政府官員腐敗 + 現金分紅��； 參考：《會計之友》2017年20期

【摘要】：現金分紅一直以來都是資本市場關注的焦點,鼓勵和引導上市公司進行連續(xù)現金分紅也一直是我國政府監(jiān)管部門引導利潤分配的方向,文章關注政府官員腐敗這一外部治理環(huán)境對上市公司現金分紅的影響。通過搜集2003—2014年我國各地區(qū)政府官員腐敗數據發(fā)現,地方官員腐敗抑制了所在地區(qū)的上市公司現金分紅,腐敗越嚴重,上市公司分紅意愿越弱,分紅比例也越低。同時,地方官員腐敗制約了所在地區(qū)的上市公司連續(xù)分紅,腐敗越嚴重,上市公司連續(xù)分紅的比率越低。文章為上市公司權衡外部治理環(huán)境與公司經營政策利弊提供有意義的參考,同時,我國政府應繼續(xù)堅定不移地進行政府官員反腐,這不僅有利于社會穩(wěn)定和宏觀經濟發(fā)展,還對企業(yè)微觀治理具有重要的實踐影響。
[Abstract]:Cash dividends have always been the focus of attention in the capital market. Encouraging and guiding listed companies to carry out continuous cash dividends has also been the direction of our government regulatory authorities to guide profit distribution. This paper focuses on the influence of the external governance environment of government officials corruption on the cash dividend of listed companies. Through collecting the corruption data of government officials in various regions of China from 2003 to 2014, it is found that local officials' corruption inhibits the cash dividends of listed companies in the region. The more serious the corruption, the weaker the willingness to pay dividends and the lower the proportion of dividends of listed companies. At the same time, the corruption of local officials restricts the listed companies in the region to continue to share out dividends, the more serious the corruption, the lower the ratio of continuous dividends of listed companies. The paper provides a meaningful reference for listed companies to weigh the advantages and disadvantages of external governance environment and company management policy. Meanwhile, our government should continue to unswervingly carry out anti-corruption by government officials, which is not only conducive to social stability and macroeconomic development. Also has the important practice influence to the enterprise micro-governance.
【作者單位】： 上海對外經貿大學金融管理學院;復旦大學管理學院;
【基金】：第59批中國博士后科學基金面上資助項目(2016M591607)
【分類號】：D630.9;F275;F832.51

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本文編號：1975984