摘 要
从1990年中国成立第一家上市公司以来，股利的分配政策越来越受国内各位学者的重视，但与国外相比，我国在股利的分配方面还有很多的不足。如何制定上市公司的股利政策，树立良好的企业形象，激发起广大投资者的投资信心，这就成了目前最重要的事。
本文就从国内外现状，以及国内股利分配政策的各种影响因素结合实例来探讨国内的股利政策不足之处，我国上市公司的股利分配形式花样繁多、层出不穷；股利政策缺乏稳定性和连续性；相关法律法规也不规范，监管体制不发达，对于这些方面提出了，外部约束的强化，内部管理的治理和完善法律法规，加强监管力度等解决方法，希望本论文可以为上市公司的股利政策的制定提供一些合理化建议，促进我国上市公司股利政策的发展。
关键词：股利分配；股票股利；股权结构；制约机制
Abstract
Since 1990 Chinese established the first listing Corporation, dividend distribution policy more and more by domestic scholars “attention, but compared with foreign, our shortcomings in dividend distribution and a lot of. How to make the listing Corporation’s dividend policy, establish a good corporate image, stimulate the confidence of investors, which became the most important thing.
This article from the current situation at home and abroad, as well as a variety of dividend policy of domestic factors with examples to explore the domestic dividend policy shortcomings, form of dividend distribution of listing Corporation in China, many patterns emerge in an endless stream; the dividend policy is lack of continuity and stability; the relevant laws and regulations is not standardized, regulatory system is not developed, for these aspects of the to strengthen the management, external constraints, internal management and perfect laws and regulations, strengthen supervision and other solutions, hope this paper can provide some reasonable suggestions for the development of listing Corporation’s dividend policy, promote the development of China’s listing Corporation dividend policy.
Keywords: Dividend policy; stock dividend; ownership structure; control mechanism
目 录
第一章 股利政策的概念
1.1股票股利的概念………………………………………………………………1
1.2股利的主要形式………………………………………………………………1
1.3股利的特点……………………………………………………………………1
1.4股利的类型……………………………………………………………………2
第二章 股利相关理论
2.1 股利无关论……………………………………………………………………4
2.2股利相关论……………………………………………………………………4
第三章 江苏神通阀门股份有限公司股利政策存在的问题及原因
3.1江苏神通阀门股份有限公司基本概况………………………………………6
3.2公司股利政策存在的问题及原因……………………………………………6
3.2.1运行不规范，政府干预过多………………………………………………6
3.2.2股利政策缺乏连续性和稳定性……………………………………………7
3.2.3不分配或少分配的现象普遍………………………………………………8
3.2.4股权结构不合理……………………………………………………………8
3.2.5公司收益状况不佳…………………………………………………………10
3.2.6外部制约机制的缺失………………………………………………………10
第四章 优化江苏神通阀门股份有限公司股利政策的策略
4.1外部约束的强化………………………………………………………………12
4.2改善内部治理…………………………………………………………………12
4.3制定相关法规，规定股利分配政策…………………………………………12
4.4弱化干预，加强监管的力度…………………………………………………13
第五章 结论…………………………………………………………14
参考文献………………………………………………………………15
