首页 | 本学科首页   官方微博 | 高级检索  
     检索      

投资机会集与股利政策关系的实证研究
引用本文:赵惠芳,孙亚林,潘立生.投资机会集与股利政策关系的实证研究[J].安徽大学学报(哲学社会科学版),2009,33(2).
作者姓名:赵惠芳  孙亚林  潘立生
作者单位:合肥工业大学,管理学院,安徽,合肥,230009
基金项目:安徽省会计学会重点课题 
摘    要:投资机会集(investment opportunity set)代表了企业因行使未来投资决策的选择权而形成的企业价值。采用投资机会集计量成长性,研究企业成长性即IOS与我国现金股利支付水平和股票股利支付水平的相关关系,国内尚不多见。实证结果表明,投资机会集较好地反映了公司的成长潜力,而且与现金股利支付水平显著负相关,与股票股利显著正相关。

关 键 词:投资机会集  现金股利  股票股利

An Empirical Study of the Relationship between Investment Opportunity Set and the Dividend Policy
ZHAO Hui-fang,SUN Ya-lin,PAN Li-sheng.An Empirical Study of the Relationship between Investment Opportunity Set and the Dividend Policy[J].Journal of Anhui University(Philosophy & Social Sciences),2009,33(2).
Authors:ZHAO Hui-fang  SUN Ya-lin  PAN Li-sheng
Institution:School of Management;Hefei University of Technology;Hefei;Anhui 230009
Abstract:The investment opportunity set(IOS) represents the enterprise value resulting from options made for future investments.This article uses investment opportunity set to measure enterprise growth and analyses the association between IOS and the dividend policy,including the payment level of cash dividends and that of stock dividends.The results show that the growth potential is well reflected by IOS and IOS is negatively correlated with cash dividends and positively correlated with stock dividend.
Keywords:investment opportunity set  cash dividend  stock dividend  
本文献已被 CNKI 维普 万方数据 等数据库收录!
设为首页 | 免责声明 | 关于勤云 | 加入收藏

Copyright©北京勤云科技发展有限公司  京ICP备09084417号