| The research of the dividend policy has been the focus that the financial, microeconomics theory researchers have paid close attention to all the time. The reasonable dividend policy realizes to the listed company , it has important meanings that maximizes the value, the main target of listed company.This paper is divided into four parts on the whole . Some general view full texts in the introduction at first, the purpose to expound selected title and innovation of meaning , research approach and this text, and limitation , this text of research, make one summary and retrospect on copies of subject domestic and international overview and document survey then, and appraise , in order to obtain basic understanding of dividend distribution.Second part Analyses the behavior current situation of dividend distribution, and the market reacts. Thus finds the listed company of our country does not distribute , the profit situation of some companies is very good, but does not assign yet, is willing to be " the miser ", In addition, the paying rate of the dividend of listed company is overall on the low side; The stock right structure is unreasonable, " inside people " are still very serious when controlling the phenomenon.The third part is a focal point of the positive research of this text, adopts the incident to study the law and examines the dividend distribution of listed company of Shenzhen stock market of 2002 , 2003, find through examining the speculation atmosphere of the stock market of our country is strong , the stock price deviates from company' s business performance. Investors have a partiality for the stock dividend, but cash dividend grants the impact on stock price not obvious.The fourth part ,According tothe above research , analyses in depth the factor influencing dividend policy of listed company in our country, implements to focus at present stock right is it put issue carry on necessity and analysis of feasibility to divide into promptly at the same time. |
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