| 公司治理、管理者过度自信与企业股利政策 |
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| 引用本文： | 章细贞,张欣.公司治理、管理者过度自信与企业股利政策[J].财务与金融,2012(5):55-59. |
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| 作者姓名： | 章细贞 张欣 |
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| 作者单位： | 1. 中南大学商学院
2. 中南大学商学院,湖南长沙,410083 |
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| 摘 要： | 文章基于公司行为财务学视角，以2008—2010年间在上海、深圳证券交易所上市的公司为样本，对我国上市公司的高管人员过度自信、公司治理与股利政策进行了实证检验。研究结果表明，管理者过度自信与股利政策正相关，有效的公司治理能抑制管理者过度自信对股利政策的影响。
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| 关 键 词： | 股利政策 管理者 过度自信 公司治理 行为财务 |
Corporate Governance, Managerial Overconfidence and Dividend Policy |
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| ZHANG Xi-zhen
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ZHANG Xin.Corporate Governance, Managerial Overconfidence and Dividend Policy[J].Accounting and Finance,2012(5):55-59. |
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| Authors: | ZHANG Xi-zhen ZHANG Xin |
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| Institution: | School of Business, Central South University, Changsha 410083 |
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| Abstract: | From the corporation behavioral finance viewpoint, this paper studies the relationship among the managers＇ over- confidence in Chinese listed companies, corporate governance and dividend policy with an empirical analysis of samples of list- ed companies in Shanghai and Shenzhen Stock Exchange between 2008 and 2010. The conclusion is that managerial overcon- fidence and dividend policy is relevant, and effective corporate governance can restrain managers＇ overconfidence on the influ- ence of the dividend policy. |
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| Keywords: | Dividend Policy Managers Overconfidence Corporate Governance Behavioral Finance |
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