【摘要】 随着股权分置改革的推进,我国上市公司国有股股权比例会经由全流通而降低.通过对我国分红与不分红上市公司盈利能力、流通股东对分红公司的偏好以及上市公司股权结构与分红倾向三方面的实证,探讨股权结构的分散化将对我国上市公司股利政策产生的影响,提出了股权分置改革后,我国上市公司分红倾向很可能与广泛预期相反,呈下降态势.更多还原

【Abstract】 With the advancing of stock right decentralized allot revolution,the share perc entage of state-owned stockholder of the listed corporations in China will decl ine because of the all-tradable of stock. This paper analyzes the influence of decentralization of stock right structure on the dividend-paying policy of the listed corporations,and puts forward the point that the dividend-paying tende ncy, contrary to the generalized anticipation, will not be intensified after sto ck right decentralized allot revolution, which is based on the following empiric al tests: the earning capability difference between dividend-paying and non-di vidend-paying listed corporations, the preference to dividend-paying corporati on of tradable shareholders and the relationship of stock right structure and di vidend-paying tendency.更多还原