摘要
本文探讨了企业股利政策与自由现金流量之间的关系,认为适当的股利政策可以提高企业价值,以达到股东财富最大化的目标。同时本文分析了企业的发展会经历创业期、成长期、成熟期和衰退期,在每一发展阶段企业获取的自由现金流量不同,因此应制订不同的股利政策。
This paper explores the relationship between dividend policy in business and cash flow,Approval dividend policy could improve business' value and reach the maximum of shareholders' fortune,Besides,as pointed in this paper,business experiences starting period,growing-up period,maturity period and recession period.In each period,the cash flow is different,and the dividend policy should be formulated accordingly.
出处
《乡镇经济》
北大核心
2007年第3期77-80,共4页
Rural Economy