对我国上市公司委托代理问题的研究

Research on the Principal-Agent Problem of Listed Companies in China

采用文献资料研究法,从股权结构和股利政策两方面研究我国上市公司的委托代理问题。通过分析发现,我国上市公司股权结构比较集中,一股独大现象比较严重;在股利分配方案中现金红利多,不分配的公司少,送股的公司少。针对以上问题,分别从股权结构、股利政策和道德风险等方面提出改进建议。

This paper mainly uses the literature research method to study the principal-agent problem of listed companies in China from three aspects:ownership structure and dividend policy.Through the analysis,we find that the shareholding structure of listed companies in China is concentrated and the phenomenon of monopoly is serious.In the dividend distribution scheme,there are more cash dividends,fewer companies without distribution and fewer companies that give shares.This paper puts forward some improvement suggestions from the aspects of ownership structure,dividend policy and moral hazard respectively.