| 上市公司现金股利派发的财务效应研究
——兼论现金股利代理成本理论的适用性 |
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| 引用本文：谢赤，闫荣城，欧辉生.上市公司现金股利派发的财务效应研究
——兼论现金股利代理成本理论的适用性[J].湖南大学学报社会科学版,2012,(4):49-55 |
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| 中文摘要:中国上市公司现金股利分配的特殊性，决定了其不同于一般的企业财务效应：派发现金股利后企业盈利能力和资产管理能力显著增强，偿债能力显著降低，发展能力变化不显著；企业盈利能力增长幅度与现金支付率呈正比关系，但股权集中程度弱化了现金股利对企业盈利能力的影响。 |
| 中文关键词:现金股利 财务效应 现金股利代理成本理论 |
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| The Financial Effect of Cash Dividend Distribution in Listed Companies：The Applicability of Cash Dividend Agency Cost Theory |
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| Abstract:The particularity of cash dividend distribution of Chinese listed company determines its financial effects are different from that of others. Enterprises' profitability and asset management ability significantly improve while solvency ability significantly drops, and development ability does not change significantly after distributing cash dividend. There is a significant positive relationship between enterprises' profitability increase magnitude and dividend payment rate. However, the ownership concentrated degree weakens the positive effect of cash dividend distribution on enterprises' profitability. |
| keywords:cash dividend financial effect cash dividend agency cost theory |
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