【作者】 于艺；

【导师】 黎玉柱；

【作者基本信息】 武汉科技大学 ， 企业管理， 2004， 硕士

【摘要】 随着证券市场的发展和上市公司的壮大，对上市公司的研究，包括对股利政策的研究显得越来越重要。股利政策是上市公司财务管理的主要内容之一。它不仅关系到股东的利益，还关系到上市公司未来的发展。 西方学者对股利政策进行了长期探索，通过大量的理论研究和实证分析，提出许多不同的思想理论。然而，股利政策的研究在中国才刚开始，本文试图通过对我国上市公司的股利政策现状的实证研究，寻找出适用于我国上市公司的股利政策，对我国上市公司在制定股利政策时起到一定借鉴参考作用。 本文共分五章，第一章主要介绍了股利政策的涵义及其内容；第二章对股利政策理论进行了评述并阐述了股利政策的矛盾性；第三章通过沪市720家上市公司的股利发放数据的分析实证研究我国上市公司的股利分配现状，并对现状形成的具体原因进行了比较深刻的分析；第四章则针对我过上市公司股利政策现状提出了自己的改进建议；论文的最后，第五章以上市公司“蓝筹股”——“申能股份”为案例进行了个股股利发放政策的分析。 本文的主要结论是：公司的股利政策确实会影响企业价值最大化的目标，因此，做为政府，应该加强对上市公司股利发放行为的监管；而作为上市公司，则应该依据自身的环境情况建立适度的股利政策。更多还原

【Abstract】 Along with the development of security market and the growth of listed companies, research on the dividend policies of listed companies has acquired an increasing importance. Dividend policy is one of the main content of financial management in the listed company, which is related with both the profits of shareholders and the development of listed company.Western scholars have long been probing the issue of dividend policy. They have conducted a lot of theoretical studies and empirical analyses, and put forward various theories with different ideas. However, the study of dividend policy has just begun in China. Therefore, this thesis tries to provide reference that help listed companies to make correct dividend policies, based on analyzing the situation of dividend distribution of listed companies and foreign empires.This thesis is divided into five chapters. In chapter 1, this thesis introduces the concept and contents of the dividend policy. In chapter 2, this thesis makes a comprehensive comments on the dividend policy theories through summarization of the traditional and contemporary dividend policy theories. Chapter 3 of the thesis selects 720 listed companies in shanghai stock exchange market, to empirical analyses the present situation of dividend distribution of listed companies in China, and analyses mainly the factors influencing the dividend policy. Chart 4, puts forward some suggestions for the government to perfect companies dividend behavior and suggests that the listed companies should build moderate dividend policy. The last chapter make an special analysis on stock-"shenergy"(stock code:600642).The major conclusions of this thesis are: Dividend policies should influences the target of enterprise’s value maximization, therefore, the government should strengthen supervise and administer to companies’s dividend behavior, and the companies should build morderate dividend policy basing on companies’s actual situations.更多还原