文档介绍：山西财经大学
硕士学位论文
山西煤炭上市公司股利政策的研究
姓名:高国芳
申请学位级别:硕士
专业:会计学
指导教师:简燕玲
2011-03-13
摘要
股利政策是上市公司将税后收益在股东和留存收益之间进行合理配置的策
略。其作为现代公司理财的三大核心内容之一,一直是公司内外部利益相关者
关注与分歧的焦点之所在。合理的股利分配政策,不仅可以树立良好的公司形
象,而且能激发广大投资者对公司持续投资的热情,从而能使公司获得长期、
稳定的发展条件和机会。本文正是在通过回顾国内外的股利理论,对我国上市
公司股利分配的现状及影响因素进行了理论分析,针对山西煤炭行业的特点及
股利分配的形式进行分析。本文的目的和意义在于从行业角度来剖析股利分配
政策的影响因素,找出影响股利分配政策的因素并提出相应的对策。
本文通过理论与财务分析相结合的方法对山西煤炭上市公司的股利分配的
特点进行了分析,得出:分配股利公司所占比重较高;现金股利是股利分配的
主要形式;股利分配政策较稳定;现金股利支付水平逐年上升。山西煤炭上市
公司股利分配受到一系列因素的影响,既有法律法规等外部因素,也有公司股
权结构等内部因素,通过具体分析,可从公司股权结构优化等七个方面来完善
山西煤炭上市公司的股利分配。

【关键词】山西煤炭;上市公司;股利分配;影响因素

4
Abstract
Dividend policy is the rational allocation strategy which a pany leaves
after-tax earnings between the shareholders and retained earnings. As one of the three
core elements in a modern corporate finance, dividend policy has been the focus
pany's internal external stakeholders ‘concern and disagreement. A
reasonable dividend distribution policy can not only set a good corporate image but
also stimulate continued investment in the general investor enthusiasm for the
company, allowing pany's long-term, stable development conditions and
opportunities. By reviewing the domestic and foreign dividends theory, this article
analyzes the dividend distribution of China's panies and the status quo and
influencing factors of the coal industry in Shanxi Province dividend. From the
industry point of view, the purpose and significance of this article is to analyze the
impact of dividend distribution policy factors, to identify the factors that affect the
dividend distribution policy and the corresponding countermeasures.
In this paper, the characteristics of Shanxi Coal dividend distribution of listed
companies are analyzed with the method bining theory and financial analysis.
The conclusion is that dividend pany occupies a higher proportion;
cash dividend is a dividend distribution of the main form; dividend distribution policy
is sta