外文翻譯---對(duì)股東財(cái)富影響的股利政策-文庫(kù)吧資料
2025-05-22 09:55本頁(yè)面
【正文】 e payment of dividend indicates that the pany has a good earning capacity. The wealth of the shareholders is greatly influenced mainly by five variables viz., Growth in Sales, Improvement of Profit Margin, Capital Investment Decisions (both working capital and fixed capital), Capital Structure Decisions, Cost of Capital (Dividend on Equity, Interest on Debt) etc. As far as the dividend paying panies are concerned, there is a significant impact of dividend policy on shareholders’ wealth in Organic Chemical Companies. Whereas, as far as the Inorganic Chemical Companies are concerned, the shareholders’ wealth is not influenced by the dividend payout. Source: R. Azhagaiah, Sabari . The Impact of Dividend Policy on Shareholders’ Wealth. International Research Journal of Finance and Economics,2020(20) :P181－ 187. 譯文 ： 對(duì)股東財(cái)富影響的股利政策 1． 簡(jiǎn)介 印度經(jīng)濟(jì)不斷發(fā)展，在全球化、 自由化和私有化，特別是信息技術(shù)取得了迅速進(jìn)展的情形下，帶來(lái)了在各個(gè)活動(dòng)領(lǐng)域的激烈競(jìng)爭(zhēng)。 β = , t = , p in model 2。 wealth. ? To analyze the impact of variation in dividend policy on shareholders39。 wealth and dividend payment. Net earnings are divided into two parts – retained earnings and dividends. The retained earnings of the business may be reinvested and treated as a source of longterm funds. The dividend should be distributed to the shareholders in order to maximize their wealth as they have invested their money in the expectation of being made better off financially. Therefore, the present study mainly analyses how far the level of dividend payout affects the shareholders39。 and in particular to study the relationship between the shareholders39。 wealth and thereby ensures more rapid economic growth. The present study is intended to study how far the dividend payout has impact on shareholders39。 wealth maximization, which translates into maximizing the value of the pany as measured by the price of the pany’s mon stock. Shareholders like cash dividends, but they also like the growth in EPS that results from ploughing earning back into the business. The optimal dividend policy is the one that maximizes the pany39。本科畢業(yè)論文（設(shè)計(jì)） 外 文 翻 譯 原文： The Impact of Dividend Policy on Shareholders’ Wealth 1. Introduction In an everincreasing Indian economy, globalization, liberalization and privatization together with rapid strides made by information technology, have brought intense petition in every field of activity. So, Indian panies at present are dazed, confused, and apprehensive. To maintain the petitiveness of, and add value to the panies, today’s finance managers have to make critical business and financial decisions which will lead to longrun perspective with the objective of maximizing the shareholders’ wealth. Shareholders’ wealth is represented in the market price of the pany’s mon stock, which, in turn, is the function of the pany’s investment, financing and dividend decision. Managements39。 primary goal is shareholders39。s stock price which leads to maximization of shareholders39。 wealth in general。 wealth and the dividend payout and to analyze whether the level of dividend payout affects the wealth of the shareholders. 2. Statement of the Problems In India few studies have analyzed the relationship between the shareholders39。 wealth, particularly in (Organic and Inorganic) Chemical Companies in India. 3. Objectives of the Study
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