东方园林公司股利政策案例分析

发布时间：2018-03-29 16:04

本文选题：中小板　切入点：东方园林　出处：《广东外语外贸大学》2017年硕士论文

【摘要】：上市公司的股利政策一直都备受广大投资者的关注。企业的股利政策不仅会间接的对整个市场的发展产生作用。上市公司在制定股利政策时,要考虑很多方面的因素,其中不仅包括大股东的利益,还有自身的实际发展情况与所处的具体发展阶段。这些因素综合考虑以后再制定具体的股利政策。2004年5月,中小企业板开始正式在深交所设立。从最初的九家中小板上市公司到2016末的822家,发展到今天,中小板的规模越来越大,追求上市的企业逐年增多。中小板处于创业板与主板之间,兼具两者的一些特色,同时也具有自己的特征。中小板的创立给广大中小企业增添了新的融资机会。如今我国的资本市场仍旧是投机之风盛行,政府和有关部门制定的法律法规也不够健全,监管力度不够。本篇文章从股利政策的经典理论出发,运用文献研究和案例分析的方法,在总结中小企业板上市公司股利分配现状的同时,对东方园林公司股利政策进行了分析研究,总结出东方园林公司的股利政策特点和影响因素,并对规范中小板上市公司股利政策和东方园林公司的股利政策提出了一些建议。通过分析本文的案例,得出的结论是,东方园林公司的股利政策并未完全符合证监会的所规定的要求,现金分红是股利分配的主要方式,股利分配并不具有连续性。股利政策不够稳定。希望本文能够帮助于广大投资者进行投资决策,加强他们的投资意识和风险意识,对企业制定最适合本公司具体情况的股利政策产生积极作用,对探索中国特色的股利政策起到一些参考作用。对整个资本市场的完善有一定的促进作用。
[Abstract]:The dividend policy of listed companies has always attracted the attention of the majority of investors. The dividend policy of enterprises will not only have an indirect effect on the development of the whole market. When the listed companies formulate dividend policies, many factors should be taken into account. This includes not only the interests of major shareholders, but also their own actual development situation and the specific stage of their development. These factors are taken into account before formulating a specific dividend policy. May 2004, The SME board began to be formally set up on the Shenzhen Stock Exchange. From the initial nine small and medium-sized board listed companies to 822 at the end of 2016, today, the scale of the small and medium-sized board is getting larger and larger. The number of enterprises seeking to go public has increased year by year. The small and medium-sized board is between the gem and the main board, and has some characteristics of both. At the same time, it also has its own characteristics. The establishment of the small and medium-sized board has added new financing opportunities to the majority of small and medium-sized enterprises. Nowadays, the capital market in our country is still in the vogue of speculation, and the laws and regulations formulated by the government and relevant departments are also not sound enough. This article proceeds from the classical theory of dividend policy, using the method of literature research and case analysis, summarizes the current situation of dividend distribution of listed companies on the SME board at the same time, The dividend policy of Oriental Garden Company is analyzed and studied, and the characteristics and influencing factors of dividend policy of Oriental Garden Company are summarized. Some suggestions are put forward to standardize the dividend policy of the small and medium-sized board listed companies and the dividend policy of the Oriental Garden Company. Through the analysis of the case of this paper, the conclusion is that, The dividend policy of the Oriental Garden Company does not fully meet the requirements stipulated by the Securities Regulatory Commission. Cash dividends are the main way to distribute dividends. Dividend distribution does not have continuity. Dividend policy is not stable. I hope this paper can help investors to make investment decisions, strengthen their investment awareness and risk awareness. It has a positive effect on the enterprises to make the dividend policy which is most suitable for the specific situation of the company, plays some reference role in exploring the dividend policy with Chinese characteristics, and promotes the perfection of the whole capital market to a certain extent.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.92;F406.7

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