我国证券市场利润分配问题研究

发布时间：2018-02-24 18:25

本文关键词： 证券市场利润分配现金分红回报对策　出处：《首都经济贸易大学》2012年硕士论文　论文类型：学位论文

【摘要】：中国改革开放以来，经济体制发生了重大转变，为了适应市场经济发展的需要，1981年我国首次发行了国债，标志着我国证券市场的诞生。随后，1990年上海证券交易所挂牌成立，我国真正意义上的证券交易市场应运而生，到如今历经了21年的风风雨雨，繁荣与危机、暴涨与暴跌如影随形，虽然有波折，但证券市场的整体发展趋势是向上的，经济的大发展与繁荣伴随着证券市场的发展和繁荣。然而我们不得不谈到一个与我国证券市场发展息息相关问题，即证券市场利润分配状况。就目前我国证券市场上市公司的利润分配现状来看，其中不乏“现金奶牛”式的分红公司，但绝大部分很吝啬，只对投资者进行很小部分的分红回报，有相当部分公司甚至不分红。而在证券市场中的基金投资领域，也是混乱无序，，极不完善，分红状况同样是令人失望。如此不合理的利润分配怪相，严重制约着我国证券市场的良好运行，影响着国民经济的健康发展。本文通过列举大量实际数据、真实案例，将证券市场中上市公司的利润分配状况大致分为持续分配、很少分配和从不分配三种情况来加以分析、研究，并结合目前国内外的经济形势以及中国市场当前的行情，提出完善证券市场相关制度、提高政府宏观调控水平、借鉴发达国家经验、提高上市公司盈利水平、完善监管体制和相关财务制度等一系列的建议、措施和解决办法。
[Abstract]:Since China's reform and opening up, the economic system has undergone a major transformation. In order to meet the needs of the development of the market economy, China issued its first national debt on 1981, marking the birth of our country's securities market. Subsequently, in 1990, the Shanghai Stock Exchange was set up. The securities trading market in the real sense of our country has emerged as the times require. By now, after 21 years of ups and downs, prosperity and crisis, soaring and plummeting have been closely followed. Although there are twists and turns, the overall development trend of the securities market is upward. The great development and prosperity of the economy is accompanied by the development and prosperity of the securities market, however, we have to talk about a problem closely related to the development of the securities market in our country, that is, the profit distribution of the securities market. As far as the current situation of profit distribution of listed companies in China's securities market is concerned, there is no shortage of "cash cow" type dividend companies, but most of them are very stingy, and only a small part of the dividend returns are paid to investors. There are quite a few companies that don't even pay dividends. And in the field of fund investment in the securities market, it is also chaotic and disordered, extremely imperfect, and the dividend situation is equally disappointing. Such an unreasonable distribution of profits is strange. It seriously restricts the good operation of China's securities market and affects the healthy development of the national economy. By citing a large number of actual data and real cases, this paper analyzes the profit distribution of listed companies in the stock market, which is divided into three situations: continuous distribution, rare distribution and non-distribution. Combined with the current economic situation at home and abroad and the current market situation in China, this paper proposes to improve the relevant system of the securities market, to raise the level of government macro-control, to learn from the experience of developed countries, and to raise the profit level of listed companies. Improve the regulatory system and related financial systems and a series of recommendations, measures and solutions.
【学位授予单位】：首都经济贸易大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51

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