公司股利理论及新发展

The Theory of Dividend Policy and the New Development

公司股利理论是公司金融中的重要理论之一,回顾了自1961年MM理论创立以来研究者对于公司为什么发放现金股利、为什么进行股票回购的解释,综合了公司在现金股利和股票回购之间进行选择需要考虑的几个因素,对现金股利和股票回购进行了简单评论。

The theory of dividend is a significant theory in corporate finance. The paper reviews the literatures on why the corporate pay cash dividend and repurchase their stocks. We analyze some factors on how corporate choice on cash dividend and repurchasing. In the end, we comment on the theory of cash dividend and repurchase.