股利*与企业价值的关系研究 类似的都可以 要英文文献 3000-5000字 最好有翻译 实在没有也行

发布网友 发布时间：2022-04-29 06:27

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热心网友 时间：2023-10-08 14:56

股利*是现代公司理财活动的三大核心内容之一。一方面,它是公司筹资、投资活动的延续,是理财行为的必然结果;另一方面,科学的股利分配*不仅可以树立起良好的公司形象,而且能激发广大投资者对公司持续投资的热情,从而使公司获得长期、稳定的发展条件和机会。所以股利*具有信号传递的作用,能够反映出公司价值的状况。然而我国的证券市场与西方成熟的资本市场存在很大的差别,在这种情况下,现金股利*对公司价值的影响是否有效值得进一步去探讨。 本文从西方股利理论入手,介绍了由传统学派到现代学派的发展,利用在上海证券交易所上市的公司的数据对分配现金股利与不分配现金股利的公司股票的市场反映进行了实证分析,得出结论表明:在我国股票市场上,现金股利的发放不会引起公司股票价格的升高,而不发放现金股利却能造成股价的下降。同时本文结合我国股利*的现状,对研究结果进行了分析,从而为优化我国上市公司股利*提出了一些*性的建议。
【英文摘要】 The dividend policy is one of the main three contents of finance management theory and the kernel of the profit distribution for the listed companies. The listed companies are the base of the capital market and firms' aim is to maximize their value. Stock dividend is listed company's rewards to its investors, and it is a signal of listed company's future to its investors, basing on listed company's prediction of itself. An appropriate dividend policy can not only set up a good image for a company,Concerning The Enterprise Value Appraisal Search

Abstract: This text study of with the appraisement persists to conct the state enterprise value for the appraisement tool of the direct object. The important tool of the enterprise value appraisal converts into cash the cash flow method, the option value approach and newly arisen according to EVA the enterprise value appraisal tool. The different appraisement tool is applicable to the different appraisement condition, at the same time; the information need is also each not same. Among them, the most fundamental, contribute to most excellent turn the appraisement tool of the business financing behavior is to convert into cash the cash flow method. Convert into cash the cash flow matrix is the modern financing learn medium of a kind of basic idea and basic tool. The per converts into cash the cash flow method, the enterprise value maximizes the realize lean of the object in: In the future the period operating activities cash flow maximize; Under the condition of obtaining the same income level the risk minimum of the assumption; Have huge potential that can persist the shape. The administrative staff steers the finance appraisement, making use of to convert into cash the cash flow method much. The appliance of the option value approach can vs the business potential, the strategic worth that have the property of select steers the analyse. But the EVA just starts apply in recent years in the enterprise value search, used for much horizontal comparison.
Key words: Enterprise value The enterprise value appraisal Discount cash flow（DCF） Option price model of Black- Scholes（OPM） Economic value added（EVA）