期刊文献+

控股股东对上市公司现金股利政策影响的实证研究 预览 被引量:198

A Case Study of the Impact of Controlling Shareholders on the Listed companies' Cash Dividend Policies
在线阅读 下载PDF
分享 导出
摘要 本文从最终控制人的概念出发,以控股股东的经济性质、所有权与控制权的分离度以及集团控制性质作为控股股东的特征变量,分别采用Logistic模型和多元线性回归模型分析了控股股东对上市公司现金股利分配倾向和分配力度的影响。研究结果发现控股股东的上述3个特征显著地影响了上市公司的现金股利分配倾向和分配力度。 Starting from the concept of the final control over human beings, taking controlling shareholders' economic nature and the degree of deviation of ownership from control right and the nature of group control as variables of the characteristics of controlling shareholders, and by the respective use of logistic model and the multivariate linear regression model, we have analyzed the effect of controlling shareholders upon the inclination and magnitude of the cash dividend distribution in listed companies. By our study, we have discovered that the above-mentioned three characteristics of controlling shareholders have a noticeable impact on the inclination and magnitude of the distribution of listed companies' cash dividend.
作者 王化成 李春玲 卢闯 Wang Huacheng, Li Chunling and Lu Chuang
出处 《管理世界》 CSSCI 北大核心 2007年第1期 122-127,136,共7页 Management World
基金 本文是由王化成教授主持的国家社会科学基金项目“基于控股股东利益的中国上市公司资本运营研究”103BJY019)和国家自然科学基金项目“中国上市公司控制权转移的利益流动研究”(70572096)的阶段性研究成果.本文的研究也得到教育部优秀青年教师奖励计划、财政邵中国会计学会重点研究课题和中国人民大学“十五”“211”工程项目的资助.
  • 相关文献

参考文献23

  • 1Easterbrook F.H, 1984, "Two Agency Cost Explanations of Dividends", American Economics Review, 74,pp.650-659. 被引量:1
  • 2Faccio,M, l.amg, L.H.P.and L.Young , 2001, "Dividends and Expropriation", American Economic Review. 被引量:1
  • 3Fama and French, 2001, "Disappearing Dividends:Changing Firm Characteristics or Lower Propensity to Pay?", Journal of Financial Economics, 60,pp.3-43. 被引量:1
  • 4Grossman S, and O.Han, 1986, "The Cost and Benefits of Ownership : A Theory of Vertical Integration" ,Journal of Politlcal Economy, 28,pp.361-385. 被引量:1
  • 5Gugler, K. and B.Yurtoglu , 2001, "Corporate Governance and Dividend Pay-out in Germany", University of Vienna, Working Paper. 被引量:1
  • 6Holderness and Sheehan,1988,"The Role of Majority Shareholders in Publicly Held Corporations", Journal of Financial Economics, 20,pp.317-346. 被引量:1
  • 7Jensen M.C. and W.H. Meckling, 1976, "Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure",Journal of Financial Economics, 3, pp.305-360. 被引量:1
  • 8Jensen, Michael C, 1986, "Agency Costs of Free Cash Flow, Corporate Finance and Takeovers", American Economic Review, 76 (2), pp.323-329. 被引量:1
  • 9La Porta R, Lopez-de-Silanes F, Shleifer, A, Vishny, R,2000, "Agency Problems and Dividend Poficies around the World",Journal of Finance, 55,pp.1-33. 被引量:1
  • 10Lee and Xiao, 2002, "Cash Dividends and Large Shareholder Expropriation in China", SSRN Working Paper. 被引量:1

二级参考文献56

共引文献588

同被引文献6755

引证文献198

二级引证文献1143

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部 意见反馈