| 上市公司股利政策的代理成本理论诠释 |
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| 引用本文： | 林小娟,程潭生.上市公司股利政策的代理成本理论诠释[J].南平师专学报,2006,25(2):97-99,53. |
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| 作者姓名： | 林小娟 程潭生 |
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| 作者单位： | 1. 福州大学管理学院,福建,福州,350002
2. 美国常青投资有限公司,福建,福州,350000 |
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| 摘 要： | 20世纪70年代,美国学者詹森(Jenson)和威廉·麦克林(Meckling)在其合著的论文中对代理学说作了系统的描述,首先将代理成本引入到公司理财领域。代理成本理论对现代企业财务理论的发展具有重要的参考价值,其中股利政策的代理成本理论在西方成熟证券市场上得到了充分的实证性检验,本文从股利政策代理成本理论的渊源出发,探讨了股东们如何通过上市公司的分红派现,来缓解代理问题,降低代理成本。
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| 关 键 词： | 上市公司 股利政策 代理成本 |
| 文章编号： | 1008-5963（2006）02-0097-03 |
| 收稿时间： | 12 20 2005 12:00AM |
| 修稿时间： | 2005-12-20 |
The Illustration for Agency Cost Theory of Listed Companies Dividend Policy |
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| LIN Xiaojuan,CHENG Tansheng.The Illustration for Agency Cost Theory of Listed Companies Dividend Policy[J].Journal of Nanping Teachers College,2006,25(2):97-99,53. |
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| Authors: | LIN Xiaojuan CHENG Tansheng |
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| Abstract: | In 1970s,the America scholars, Jensen and Meckling,systematically illustrated the Theory of agency in their co-written paper,which initially introduced it to the field of company financing. Agency cost theory shares the referenced value in the development of financing theory of modern enterprises. And the agency cost theory of dividend policy has been fully positive-verified in the western mature security markets. This article, resulted from agency cost theory of dividend policy, discusses about how stock holders solve the agent problem and decrease the agency cost by the cash dividend of listed companies. |
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| Keywords: | listed companies dividend policy agency cost |
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