摘 要 股利政策是現代公司財務決策的重要組成部分，其內容包括何時發放股利，發放何種股利，發放多少股利等。它的制定不僅影響公司未來業務發展，也影響資本市場投資者對公司發展前景的看法。而目前我國上市公司在股利分配方面還存在許多問題，因此本文就我國上市公司股利政策存在問題進行了詳細的分析，并給出了相關的建議。 本文首先介紹了中外股利政策理論發展的情況，簡要說明了股利分配的方式及政策種類，奠定了本文分析的理論基礎；其次，文章分析了當前中國上市公司股利分配的總體特征，并結合典型公司案例分析，總結了中國上市公司股利政策的具體問題，及這些問題產生的原因；最后，本文就如何改善我國上市公司股利分配現狀提出了幾點建議。 關鍵詞 上市公司 股利分配 股利政策 證券市場 成因分析 ABSTRACT Dividend policy is an important component of a modern company's financial decision-makings. The content of company dividend policy which includes the time, the kind and the amount of dividends payment will not only affect the future development of the listed company's business but also the opinion on the company's development prospects holding by investors. At present, China's listed companies still have many problems in the dividends policy makings. So this article will study on the dividend policy of listed companies in China and will give a detailed analysis on it and then give relevant recommendations. This paper first introduces the theory of dividends policy of the Chinese and foreign scholars; giving a brief description of the dividend distribution and types of ways which gives the theoretical basis for analysis; Secondly, the article analyzes the general features of China's listed companies dividend distribution policies, combined with the typical corporate case studies, and summed up the dividend policy on specific issues, and then, under the guidance of the theory, the paper studies the causes of these problems; Finally, this article gives some suggestions on how to improve Chinese listed companies` distribution of dividends policy. KEY WORDS listed company dividend distribution dividend policy security market consequence analysis
