中国上市公司股利政策现状的成因及对策研究.docVIP

毕业论文 题 目 学 院 专 业 班 级 学 生 学 号 指导教师 二 〇 一 三 年 月 日 ABSTRACT In this paper Based on the evaluation of the current situation and existing problems of dividend policy in China, the article analyzes the causes of problems from the aspects of securities market positioning, laws and policies, information disclosure, stock market speculation, financing, ownership structure, corporate governance structure as well as the company itself, using the survey method and experience summary method, literature and other research methods, and in view of the crux prompted Chinas listed companies dividend policy rationalization Suggestions.Through the improvement of the capital market system, strengthen supervision, improve securities legislation, improve the information disclosure and supervision, expand financing channels, optimize the ownership structure, improve the governance structure of listed companies to improve the management level and guide investors to establish a correct investment philosophy and other measures, in order to clarify the listed company of dividend distribution policy thinking, so as to promote the further development of Chinese listed companies themselves, to protect the legitimate rights and interests of vast investors, especially small and medium investors, promoting the stable, healthy and orderly development of Chinas stock market. Key words：Dividend policy；Cause analysis；Countermeasures and Suggestions 目 录 摘 要 II ABSTRACT III 一、 前言 - 1 - 二、股利政策的概述 - 2 - (一) 股利政策的基本概念 - 2 - (二) 股利分配的方式 - 2 - 三、上市公司股利分配的现状及存在的问题 - 3 - （一）股利政策缺乏稳定性和连续性 - 3 - （二）股利支付率较低，不分配现象严重 - 4 - （三）上市公司派现水平较低，且送配股盛行 - 4 - （四）再筹资行为成为影响上市公司股利政策的重要因素 - 5 - （五）违反“同股同利”的分配原则 - 5 - 四、对中国上市公司股利分配现状的成因分析 - 7 - （一）证券市场不规范 - 7 - 1.我国证券市场定位存在问题，政府过度干预 - 7 - 2.有关证券市场的法律法规不完善 - 7 - 3.证券市场信息披露方面存在严重缺陷 - 8 - 4.股市过度投机 - 8 - 5.融资渠道狭窄 - 8 - （二）上市公司自身股权结构不合理，内部人控制严重 - 9 - 1.上市公司股权结构不合理