广西上市公司分红问题研究

发布时间：2018-08-26 17:34

【摘要】：保护投资者权益是资本市场的一项重要职能。现金分红作为回报投资者的一项重要举措,一直是上市公司、投资者、监管部门以及市场各方关心的问题。近年来,中国证监会陆续出台了一系列鼓励现金分红的政策,将现金分红作为上市公司再融资的重要约束条件,要求上市公司完善现金分红政策及其决策机制,引导上市公司建立回馈投资者的正常机制。目前,我国越来越来的上市公司将现金分红作为公司的股利分配方式,涌现出一批连年给予投资者高分红回报的优质蓝筹公司。广西位于我国西南地区,广西资本市场也是中国资本市场的重要组成部分。在市场的内外部条件约束下,广西上市公司现金分红情况有何变化,投资者是否从现金分红中获得真正的收益,影响上市公司现金分红的因素又哪些,如何有效提升上市公司的现金分红水平?本文主要是基于投资者保护的角度,对2007年至2011年广西上市公司分红情况进行研究,分析广西上市公司分红的总体情况,分析广西上市公司分红存在的问题,对制约广西上市公司现金分红的因素进行实证研究,剖析存在问题的成因,提出改进现金分红的意见和建议。
[Abstract]:Protecting investors' rights and interests is an important function of capital market. As an important measure of return to investors, cash dividend has always been a matter of concern to listed companies, investors, regulators and all parties in the market. In recent years, the China Securities Regulatory Commission has successively issued a series of policies to encourage the cash dividend, which is regarded as an important constraint for the refinancing of listed companies, and requires listed companies to improve the cash dividend policy and its decision-making mechanism. Guide listed companies to establish a normal mechanism for feedback to investors. At present, more and more listed companies in our country take the cash dividend as the way of dividend distribution, and a number of high-quality blue-chip companies have been emerging to give investors a high return on dividends in successive years. Guangxi is located in southwest China, Guangxi capital market is also an important part of China's capital market. Under the constraints of the internal and external conditions of the market, how does the situation of cash dividends of listed companies in Guangxi change, whether the investors get real income from the cash dividends, and what are the factors affecting the cash dividends of listed companies? How to effectively improve the cash dividend level of listed companies? This article is mainly based on the angle of investor protection, carries on the research to the Guangxi listed company dividend situation from 2007 to 2011, analyzes the general situation of the Guangxi listed company dividend, analyzes the Guangxi listed company dividend existing problem, This paper makes an empirical study on the factors restricting the cash dividend of Guangxi listed companies, analyzes the causes of the existing problems, and puts forward some suggestions and suggestions for improving the cash dividend.
【学位授予单位】：广西大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51;F275

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