摘要
以2004~2006年沪深股市A股上市公司为样本,对上市公司现金股利政策与公司治理的关系进行了实证分析.结果表明:股权结构的集中与分散程度对现金股利有显著影响;董事会的规模和独立董事的人数都与现金股利政策呈正相关关系;董事长和监事会主席的持股比例以及控股类型都与现金股利正相关;公司董事长和总经理的两职分离、审计意见清晰时,更有可能分配现金股利.
The article in question, taking A shares of Shanghai and Shenzhen stock markets (from 2004 to 2006) as examples, analyses the relationship between the cash dividend policy and the governance of listed companies, and the result shows that the degree of the centralization and decentralization of ownership structure has significant effect on cash dividends, that there is the positive correlation between the scale of the board of directors and the number of the independent directors, that there is the positive correlation between the shareholding ratio and holding type of the president of the hoard and the chairman of the supervisors board and the cash dividends, and that when the two posts of the president of board and the general manager are separated, and the audit opinion is clear, it is more possible to have cash dividends.
出处
《河北工业大学学报》
CAS
北大核心
2009年第4期80-84,共5页
Journal of Hebei University of Technology
关键词
上市公司
现金股利
公司治理
实证分析
listed companies
cash dividends
corporate governance
analysis