上市公司股利政策分析 以万科集团为例.doc

. .. 上市公司股利政策分析-以万科集团为例 摘要 股利的政策是现代的公司的理财的活动的重要的内容之一，对公司的投资和融资的活动有深远影响，所以股利的分配的政策研究都是国内外的理论界实务界的关注热点。本文先介绍股利政策基本的理论，归纳股利的政策的影响的因素，包括了行业的生命周期、财务的状况、股权的结构和法律都限制等等，阐述我国的证券市场的股利政策的制度以及其的演变。然后，理论再联系着实际，运用了案例的研究的方法，详细的分析万科集团股利的政策以及影响的因素。本文就研究对同行业或者相关的行业制定了有效股利的政策来具有了一定参考的价值，并有助于我们的投资者们形成了正确投资的决策，来获取了合理投资的回报。 关键词:股利政策;行业生命周期;盈利能力;股权结构 Abstract Dividend policy is one of the modern companys financial activities is an important content, has a far-reaching influence on the companys investment and financing activities, so the research on the dividend policy of distribution is the focus of the focus in practice the theoretical circles at home and abroad. This paper first introduces the basic theory of dividend policy, dividend policy factors, including legal ownership structure and life cycle, financial industry, the status of the evolution of the system of limit and so on, expounded Chinas securities market, the dividend policy. Then, with the actual theory, using the method of case study, the factors detailed analysis of Vanke dividend policy and the influence of. This paper studies on the same industry or related industries to develop effective dividend policy to have the certain reference value, and helps to form the correct investment decision for our investors, to obtain a reasonable return on investment. Keywords: dividend policy; industry life cycle; profitability; ownership structure 目 录 TOC \o 1-3 \h \u HYPERLINK \l _Toc7000 摘要 PAGEREF _Toc7000 1 HYPERLINK \l _Toc338 Abstract PAGEREF _Toc338 2 HYPERLINK \l _Toc29633 目 录 PAGEREF _Toc29633 3 HYPERLINK \l _Toc20107 1、前言 PAGEREF _Toc20107 1 HYPERLINK \l _Toc2650 2相关理论概述 PAGEREF _Toc2650 1 HYPERLINK \l _Toc2834 2.1股利政策理论 PAGEREF _Toc2834 1 HYPERLINK \l _Toc25196 2.2股利政策类型 PAGEREF _Toc25196 2 HYPERLINK \l _Toc11785 3、万科集团的基本情况 PAGEREF _Toc11785 4 HYPERLINK \l _Toc31650 3.1房地产行业分析 PAGEREF _Toc31650 4 HYPERLINK \l _Toc20791 3.2万科公司的基本情况 PAGEREF _Toc20791 5 HYPERLINK \l _Toc26185 4、万科集团的股利政策分析 PAGEREF