经济新常态下民族地区公司股利分配之博弈

The Game of Dividend Distribution in the Minority Region under the New Economic Normal

经济新常态下民族地区上市公司的盈利能力受到深远影响,通过对2017年民族地区上市公司股利分配情况进行统计发现存在政策不稳定、股利支付率低和大多数公司不分配股利的倾向。民族地区经济特征与民族管理文化对上市股利分配决策存在隐性作用,新常态下民族地区上市公司股利政策不稳定,新常态下民族地区上市公司股利分配决策缺乏理性,新常态下民族地区上市公司股利支付率较低。建议优化新常态下民族地区上市公司的股权结构,提高新常态下民族地区上市公司的盈利能力,保障民族地区上市公司中小股东的收益要求权。

Under the new economic conditions, the profitability of listed companies in minority areas has been far- reaching influence. Through the analysis of the dividend distribution of listed companies in ethnic minority areas in 2017, there is a tendency of policy instability, low dividend payout rate and most companies not allocating divi- dends. The economic characteristics of minority areas and the national management culture have hidden effect on the decision-making of the listed dividend. The dividend policy of the listed companies in the minority areas is not stable under the new normal state. The dividend distribution decision of the listed companies in the minority areas is not rational, and the listed companies in the new normal state Dividend payment rate are low. It is suggested to optimize the ownership structure of listed companies in minority areas under the new normal state, to improve the profitability of listed companies in minority areas under the new normal state, and to guarantee the right of claim for minority shareholders in minority areas.