本文選題：創(chuàng)業(yè)板上市公司 + 股利政策　； 參考：《黑龍江大學(xué)》2014年碩士論文

【摘要】：股利政策是指公司管理者對股利支付有關(guān)事項(xiàng)的確定，是股份制企業(yè)利潤分配的重要組成部分，與籌資決策、投資決策并稱為企業(yè)的三大財(cái)務(wù)管理活動(dòng)。股利政策一直是國內(nèi)外理論界和實(shí)務(wù)界研究和探討的熱點(diǎn)。自20世紀(jì)50年代起，國外學(xué)者便對股利政策開始展開研究，并產(chǎn)生了許多經(jīng)典理論。我國學(xué)者也在20世紀(jì)90年代中后期逐步開始對股利政策的研究，并取得了一系列的研究成果。但目前國內(nèi)的股利政策研究大多是基于我國主板市場，由于我國創(chuàng)業(yè)板市場起步較晚，對創(chuàng)業(yè)板上市公司股利政策的相關(guān)研究還比較匱乏。而某一上市公司的股利政策的優(yōu)劣，直接影響到該公司的投資、籌資活動(dòng)，關(guān)系到公司經(jīng)營者、債權(quán)人及其他利益相關(guān)者的權(quán)利和義務(wù)。因此，對于剛剛起步且投資風(fēng)險(xiǎn)相對較高的創(chuàng)業(yè)板上市公司來說，對其股利政策進(jìn)行研究顯得尤為重要。 股利政策的影響因素主要包括：國家宏觀經(jīng)濟(jì)環(huán)境因素、法律因素等外部因素以及自由現(xiàn)金流量、償債能力等企業(yè)內(nèi)部因素。本文在回顧有關(guān)國內(nèi)外股利政策影響因素的文獻(xiàn)的基礎(chǔ)上，查閱相關(guān)的統(tǒng)計(jì)數(shù)據(jù)，對我國創(chuàng)業(yè)板上市公司年報(bào)的內(nèi)容進(jìn)行整理，主要從企業(yè)自身的角度考慮設(shè)置了相應(yīng)的股利政策影響因素指標(biāo)，選取2010年1月1日至2012年12月31日共計(jì)325家分配股利且數(shù)據(jù)有效的創(chuàng)業(yè)板上市公司的相關(guān)數(shù)據(jù)作為樣本數(shù)據(jù)，以spss17.0統(tǒng)計(jì)軟件為工具，采用實(shí)證研究方法，，對影響我國創(chuàng)業(yè)板上市公司股利政策的因素進(jìn)行研究。本文在對我國創(chuàng)業(yè)板上市公司現(xiàn)行股利政策的動(dòng)因進(jìn)行了實(shí)證分析的基礎(chǔ)上，分別從加強(qiáng)公司內(nèi)部控制、提高盈利能力等企業(yè)內(nèi)部環(huán)境的優(yōu)化及加強(qiáng)法律法規(guī)建設(shè)、完善國家宏觀經(jīng)濟(jì)環(huán)境等企業(yè)外部環(huán)境的優(yōu)化兩個(gè)方面提出了完善我國創(chuàng)業(yè)板上市公司股利政策的具體對策。希望可為推動(dòng)我國創(chuàng)業(yè)板上市公司持續(xù)、健康發(fā)展提供一定的幫助。
[Abstract]:Dividend policy refers to the company managers to determine the relevant matters of dividend payment, is an important part of the profit distribution of joint-stock enterprises, and financing decisions, investment decisions are known as the three major financial management activities of enterprises. Dividend policy has always been a hot spot in the theoretical and practical circles at home and abroad. Since the 1950s, foreign scholars began to study dividend policy, and produced many classical theories. Chinese scholars began to study dividend policy gradually in the middle and late 1990s, and obtained a series of research results. However, most of the domestic dividend policy research is based on the main board market, because the gem market started late, the research on the dividend policy of gem listed companies is still relatively scarce. The dividend policy of a listed company has a direct impact on the company's investment, financing activities, related to the rights and obligations of the company's managers, creditors and other stakeholders. Therefore, it is very important to study the dividend policy for the listed companies with relatively high investment risk. The influencing factors of dividend policy include: national macroeconomic environmental factors, legal factors and other external factors, as well as free cash flow, solvency and other internal factors. On the basis of reviewing the literature on the influencing factors of dividend policy at home and abroad, this paper reviews the relevant statistical data, and collates the contents of the annual report of listed companies on the gem. Mainly from the point of view of the enterprise itself, set up the corresponding impact factors of dividend policy indicators, select a total of 325 companies from January 1, 2010 to December 31, 2012, and the relevant data of gem listed companies with valid data as sample data. With the spss17.0 statistical software as the tool, this paper studies the factors that influence the dividend policy of the listed companies in the gem by using the empirical research method. On the basis of the empirical analysis of the motivation of the current dividend policy of the listed companies on the gem, this paper respectively strengthens the optimization of the internal environment of the companies, such as strengthening the internal control of the companies, improving their profitability, and strengthening the construction of laws and regulations. The paper puts forward the concrete countermeasures to perfect the dividend policy of the listed companies on the gem in two aspects, such as perfecting the national macroeconomic environment and optimizing the external environment of the enterprises. Hope to promote the gem listed companies sustainable and healthy development to provide some help.
【學(xué)位授予單位】：黑龍江大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.51;F275

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