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长期以来,股利政策作为公司理财活动的重要内容之一,一直是中外理论界和实务界研究和探讨的热点。本文结合国内外相关文献及股利理论,以2009年至2012年创业板上市公司为样本,对创业板上市公司的现金股利政策进行了分析。研究发现,创业板上市公司发放现金股利与超募水平正相关,与公司成长性负相关。
For a long time, the dividend policy as one of the important contents of the company’s financial management activities has always been a hot spot in the research and discussion of both domestic and foreign theoretical and practical circles. Based on the relevant literature at home and abroad and the theory of dividend, this paper analyzes the cash dividend policy of GEM listed companies from the 2009 to 2012 GEM-listed companies. The study found that the cash dividends paid by GEM companies are positively correlated with the over-raised funds and negatively correlated with the company’s growth.