【摘要】：保護(hù)投資者權(quán)益是資本市場的一項(xiàng)重要職能�，F(xiàn)金分紅作為回報投資者的一項(xiàng)重要舉措,一直是上市公司、投資者、監(jiān)管部門以及市場各方關(guān)心的問題。近年來,中國證監(jiān)會陸續(xù)出臺了一系列鼓勵現(xiàn)金分紅的政策,將現(xiàn)金分紅作為上市公司再融資的重要約束條件,要求上市公司完善現(xiàn)金分紅政策及其決策機(jī)制,引導(dǎo)上市公司建立回饋投資者的正常機(jī)制。目前,我國越來越來的上市公司將現(xiàn)金分紅作為公司的股利分配方式,涌現(xiàn)出一批連年給予投資者高分紅回報的優(yōu)質(zhì)藍(lán)籌公司。廣西位于我國西南地區(qū),廣西資本市場也是中國資本市場的重要組成部分。在市場的內(nèi)外部條件約束下,廣西上市公司現(xiàn)金分紅情況有何變化,投資者是否從現(xiàn)金分紅中獲得真正的收益,影響上市公司現(xiàn)金分紅的因素又哪些,如何有效提升上市公司的現(xiàn)金分紅水平?本文主要是基于投資者保護(hù)的角度,對2007年至2011年廣西上市公司分紅情況進(jìn)行研究,分析廣西上市公司分紅的總體情況,分析廣西上市公司分紅存在的問題,對制約廣西上市公司現(xiàn)金分紅的因素進(jìn)行實(shí)證研究,剖析存在問題的成因,提出改進(jìn)現(xiàn)金分紅的意見和建議。
[Abstract]:Protecting investors' rights and interests is an important function of capital market. As an important measure of return to investors, cash dividend has always been a matter of concern to listed companies, investors, regulators and all parties in the market. In recent years, the China Securities Regulatory Commission has successively issued a series of policies to encourage the cash dividend, which is regarded as an important constraint for the refinancing of listed companies, and requires listed companies to improve the cash dividend policy and its decision-making mechanism. Guide listed companies to establish a normal mechanism for feedback to investors. At present, more and more listed companies in our country take the cash dividend as the way of dividend distribution, and a number of high-quality blue-chip companies have been emerging to give investors a high return on dividends in successive years. Guangxi is located in southwest China, Guangxi capital market is also an important part of China's capital market. Under the constraints of the internal and external conditions of the market, how does the situation of cash dividends of listed companies in Guangxi change, whether the investors get real income from the cash dividends, and what are the factors affecting the cash dividends of listed companies? How to effectively improve the cash dividend level of listed companies? This article is mainly based on the angle of investor protection, carries on the research to the Guangxi listed company dividend situation from 2007 to 2011, analyzes the general situation of the Guangxi listed company dividend, analyzes the Guangxi listed company dividend existing problem, This paper makes an empirical study on the factors restricting the cash dividend of Guangxi listed companies, analyzes the causes of the existing problems, and puts forward some suggestions and suggestions for improving the cash dividend.
【學(xué)位授予單位】：廣西大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.51;F275

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