宁波上市公司股利政策分析毕业论文.doc

毕业论文 （20_ _届） 宁波上市公司股利政策分析 摘 要 随着我国证券市场的迅速发展，上市公司的财务决策与股利政策的相关性日益增强，加强股利政策的研究对于促进上市公司的科学管理和证券市场的健康发展、保护广大中小投资者利益都有着很大的理论价值和现实意义。然而现阶段，在我国，关于股利政策的理论研究和实证分析还没有引起足够的重视，仍然处于相对落后的状态。本文采用实证的研究方法，在论述相关研究成果和理论分析的基础上，试图为我国上市公司实施股利政策的发展方向提出建议。 本文第一部分首先就股利、股利政策、股利政策的影响因素等一些相关概念进行了理论论述。第二部分主要是对我国上市公司股利分配政策的现状以及存在的问题进行分析，并指出其成因。第三部分以2007年到2009年26家浙江省宁波市A股上市公司作为研究样本，提出股利政策和公司价值的研究假设，通过SPSS软件对样本数据进行统计分析，得出上市公司的股利政策对企业价值影响的结论，并阐述了本文研究过程中存在的局限性。第四部分得出结论并提出规范上市公司股利政策的建议以及决策。研究结果表明：每股收益与每股现金股利呈正相关关系；主营业务利润率与每股现金股利呈正相关关系。 关键词：上市公司；股利政策；企业价值 Abstract With the rapid development of Chinese stock market, the connection of financial policy and dividend policy of listed companies are also being increased. Thus the study of dividend policy will not only ensure the list company’s management and stock market’s healthy development, but also help protecting the medium-small scale investor’s interest theoretically and practically. However, there is not much attention being paid toward the study and analysis of dividend policy, the current level is relatively low. This essay will try to give advice toward list companies’ dividend policy direction using example study method and also be based on study statement and theory analysis. The first part of this essay will be started with the theoretical explanation of stock share profit, dividend policy and its influence. The second part will start analyzing the dividend policy current situation and existing problems, and point out the reasons. The third part will take 26 listed companies from 2007-2009 in Ningbo city as examples, bringing forward the hypothesis for dividend policy and company value, and get the conclusion that dividend policy would effect the company value through SPSS software data analysis, and also stat the limitation of this essay. The forth part will get the conclusion and give the suggestion and decision for formulate the dividend policy for listed companies. The result shows there is a positive relation between profit of eac