【摘要】 本文通过分析股利增长率的影响因素 ,建立了股利变化的非线性动力学模型 ;讨论了股利变化的各种动态行为 ;然后推出估价公司价值的动态股利贴现模型 ,同时得出公司价值与股利之间存在非线性动态关系的结论。为控制、预测证券市场 ,规范公司行为提供了较好的理论依据及实践操作方法。更多还原

【Abstract】 By analysing the affecting factors of dividend increasing rate,we construct the nonlinear dynamics model of dividend changing,and discuss all kinds of dynamical behaviors of dividend.Then we calculate the dynamical dividend discount model for evaluating the value of company,and draw a conclusion that there exist the nonlinear dynamical relations between the value of company add dividend.The better theory foundation and practical operation methods are provided for controling and forecasting security markets and norming the listingcompany behaviors.更多还原