【正文】
畢 業(yè) 論 文 題目: 房地產(chǎn)行業(yè)上市公司股利分配探析 學(xué) 生: XXX 學(xué) 號(hào): XXX 學(xué) 院: XXX 專 業(yè): XXX 指導(dǎo)教師: XXX 年 月 日 I 房地產(chǎn)行業(yè)上市公司股利分配探析 摘 要 股利政策作為財(cái)務(wù)管理的三大核心問題之一,它在公司整個(gè) 運(yùn)營(yíng)過程中起著十分重要的作用,一直以來都受到學(xué)術(shù)界廣泛的關(guān)注和研究。合理的股利分配不僅有利于增加股東的利益,并且能促使公司在證券市場(chǎng)上樹立良好的企業(yè)形象,提高公司的市場(chǎng)價(jià)值。然而,公司的股利分配過多會(huì)使其留存收益減少,融資成本加大,不利于其長(zhǎng)遠(yuǎn)和持久的發(fā)展。因此,如何在公司投資者回報(bào)和未來可持續(xù)發(fā)展之間尋求一個(gè)股利分配平衡點(diǎn),如何確定現(xiàn)金股利和留存收益的比例等,成為公司管理層的一項(xiàng)重要內(nèi)容。房地產(chǎn)行業(yè)是我國(guó)的支柱型產(chǎn)業(yè),同國(guó)民的生活是緊密相關(guān)的。近幾年,中國(guó)房地產(chǎn)行業(yè)得到了前所未有的發(fā)展,并帶動(dòng)了與之相關(guān)聯(lián) 產(chǎn)業(yè)的高速發(fā)展,對(duì)我國(guó)經(jīng)濟(jì)的持續(xù)增長(zhǎng)起到了積極和關(guān)鍵的作用。同時(shí),房地產(chǎn)行業(yè)是個(gè)資金密集型行業(yè),對(duì)資金的依賴性比較強(qiáng),相對(duì)于其它行業(yè),房地產(chǎn)行業(yè)的利潤(rùn)和股利分紅更是可觀。本文以房地產(chǎn)行業(yè)作為背景,以房地產(chǎn)上市公司作為研究對(duì)象對(duì)我國(guó)股利分配現(xiàn)狀進(jìn)行研究。首先,本文對(duì)股利分配的理論部分進(jìn)行了闡述,包括股利分配的概念、類別、作用以及其影響因素;其次,對(duì)我國(guó)股利分配整體的現(xiàn)狀和房地產(chǎn)行業(yè)上市公司現(xiàn)狀進(jìn)行了探析;然后從外部和內(nèi)部影響因素兩方面對(duì)影響房地產(chǎn)行業(yè)上市股利分配的因素進(jìn)行研究,同時(shí),以華遠(yuǎn)地產(chǎn)為案例進(jìn)行案例分 析,并針對(duì)該公司所存在的問題提出相關(guān)建議;最后從國(guó)家政府和房地產(chǎn)上市公司兩個(gè)角度為房地產(chǎn)公司制定合理、規(guī)范、有效的股利政策提出合理化建議。 關(guān)鍵詞: 房地產(chǎn),上市公司,股利分配 II Analysis of real estate listed panies dividend policy ABSTRACT Dividend policy as one of the three core issues of financial management, it plays a very important role in the pany39。s overall operating process,has always been the widespread concern academia and dividend distribution will not only help to increase the shareholders39。 interests, and encourage panies to establish a good corporate image in the securities market, improve the pany39。s market ,too much pany39。s dividend reduction will make it retained earnings, increased financing costs, are detrimental to the longterm and sustainable , how to seek between investor returns and a sustainable future dividend balance, how to determine cash dividends and retained earnings of proportion and bee an important part of the pany39。s management. The real estate industry is the pillar industries, with national life are closely related. In recent years, China39。s real estate industry has been an unprecedented development, and promote the rapid development associated with the industry, to China39。s sustained economic growth has played an active and key role. Meanwhile, the real estate industry is a capitalintensive industries, dependence on capital are relatively strong, pared to other industries, the real estate industry profits and dividends dividends is impressive. In this paper, the real estate industry as a background to the real estate panies for the study of the status of dividend distribution were studied. Firstly, the theoretical part of dividends are described, including the concept of dividend distribution, type, effect and influence factors。 Seco ndly, the current situation and status of listed panies in the real estate industry as a whole of a dividend distribution of our country。 then from the outside and Internal factors two factors affecting the real estate industry listed dividends research, while in the case of Huayuan Property case studies, and make remendations for the problems of the pany。 and finally from the national government and the two listed real estate panies angles for the real estate pany to develop a reasonable, reasonable suggestions standardized and effective dividend policy. Key words: Real estate, Listed Companies,Dividend III 目 錄 摘 要 I ABSTRACT II 1 股利分配相關(guān)理論概述 1 股利分配的概念與類別 1 股利分配的概念 1 股利分配的類別 1 股利分配的作用 2 追隨者效應(yīng) 2 信號(hào)暗示 2 降低代理成本的需求 3 股利分配的影響因素 3 法律法規(guī)因素 3 公司因素 3 股東因素 1