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不同渠道上市民营公司现金股利分配比较
引用本文:郑蓉,干胜道. 不同渠道上市民营公司现金股利分配比较[J]. 经济与管理研究, 2013, 0(2): 105-112
作者姓名:郑蓉  干胜道
作者单位:1. 西华大学,成都市,610039
2. 四川大学工商管理学院,成都市,610065
基金项目:教育部新世纪优秀人才支持计划"所有者复杂化条件下的财务分层管理研究",四川省教育厅课题"自由现金流量与股利分配政策——基于酒业上市公司的实证研究"
摘    要:民营企业是我国A股市场第二大上市主体,但目前对于民营上市公司股份分配政策的研究结论却大相径庭。本文以2004~2010年民营上市公司的股利分配数据为研究对象,对不同渠道上市的民营公司的派现意愿及派现水平进行比较研究后发现,上市渠道对民营公司派现的意愿、形式及水平存在显著影响,而民营公司管理层在上市之初的动机和选择对公司上市后的表现具有决定性的影响。

关 键 词:买壳民营上市公司  原创民营上市公司  现金股利分配  上市渠道
收稿时间:2012-11-12

The Comparative Study on the Cash Dividend Distribution of Private Listed Companies with Different Listing Channels
ZHENG Rong,GAN Sheng-dao. The Comparative Study on the Cash Dividend Distribution of Private Listed Companies with Different Listing Channels[J]. Research on Economics and Management, 2013, 0(2): 105-112
Authors:ZHENG Rong  GAN Sheng-dao
Affiliation:1 (1.Business School of Sichuan University,Chengdu 610065; 2.Management School of Xihua University,Chengdu 610039)
Abstract:The practice of stock market proved that there is a very distinct difference between private listed companies which has different listing channels. Study the private companies' dividend policy based on the classification of listed channels can discover the characteristics and motivation of them more clearly. The research period of this paper is from the years 2004 to the year 2010.After research on the cash paying policy of different private companies, the paper find that the form of the listed channels has a significant impact on the private companies' decision-making of cash paying willing and level. The choice and motivation made by the private listed companies at the beginning of listed have a decisive impact on the performance of the company after the listing.
Keywords:
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