宁波上市公司股利分配政策偏好研究毕业论文.docVIP

毕业论文 （20_ _届） 宁波上市公司股利分配政策偏好研究 摘 要 股利政策是指股份制公司对股利分配有关事项所做的方针与政策，对公司的发展起着重要的作用。合理的股利政策不仅可以树立良好的公司形象，而且能使公司获得长期而稳定的发展。我国前上市并股改过的17家Abstract Dividend policy is the policy which is made by joint-stock company about the dividend distribution, and it is important to the development of the company. Reasonable dividend policy can not only set a good image of the company, but also lead companies to have long-term and stable development. In 2005, China launched reform of non-tradable shares. In order to reflect the changes of dividend distribution policy of listed companies in Ningbo better, before and after the reform of non-tradable shares, this article uses the way of researching data of the 17 listed companies before 2005 in Ningbo, and analyzes these companies’ annual reports for some years descriptively and statistically. Founding that dividend distribution of listed companies in Ningbo is gradually tending to send cash, send cash and conversed, and no assigning after the reforming; After reforming, in the characteristics of dividend distribution, the proportion of sending cash is stable and the continuity is good, and the proportion of no assigning is general and show a relatively stable state and the level of dividend payments is still fluctuant low. Probably, the reasons are the policy’s factors and the Investor’s factors of the stock market, and the ownership structure’s factors and the financial management objectives’ factors of the listed company’s fields. And making relevant recommendations: Improving the financing environment and strengthening the supervision; Developmenting the long-term investors and reducing the market speculation; Improving the corporate governance system; Improving the profitability of listed companies and strengthening management. Keywords: Dividend Distribution Policy; Listed Companies in Ningbo; Reform of Non-tradable Share目 录 1 相关概念的理论界定 1 1.1 股利和股利政策的概念 1 1.2 股权分置和股权分置改革 3 2 宁波上市公司的股利分配政策偏好分析 5 2.1 股改前的股利分配状况 5 2.1.1 股利分