摘要
股利分配是公司财务政策的重要内容,也是我国证监会近年来监管的重点。中国现行的经济状况和世界其他国家相比有着不同的发展轨迹和制度背景,目前在该领域的研究并不能完美地解释股票股利政策的公司行为。基于中国特定的制度背景,以我国2009年4月30前公布的分配预案中有送转股的上市公司为样本,实证研究股本扩张动因对送转股的影响。结果显示,我国上市公司股本规模对送转股数有显著影响。
Dividend distribution is an important element of a company＇s financial policy, and has been the focus of supervision of China＇ s Securities Regulatory Commission in recent years. As China has taken a different route of economic development and has a different institutional background from other countries, previous researches cannot perfectly explain the corporate behavior of the stock dividend policy. Considering China＇ s institutional particularities and taking companies that announced stock dividend plans before April 30, 2009 as samples, our empirical study looks into the impact of capital stock expansion on stock dividend and concludes that that the capital stock sizes of China＇ s listed companies have a significant impact on their amount of stock dividends.
出处
《厦门大学学报（哲学社会科学版）》
CSSCI
北大核心
2009年第5期114-121,共8页
Journal of Xiamen University(A Bimonthly for Studies in Arts & Social Sciences)
基金
教育部人文社会科学规划项目"信息化环境下企业内部控制研究"(06JA630060)
2007年福建省高等学校新世纪优秀人才支持计划项目(0000-X071R9)
关键词
股利分配
送转股
股本规模
股本扩张
dividend distribution, stock dividend, capital stock size, capital stock expansion
