市场化进程、控股股东控制与现金股利政策研究综述

摘要

This paper summarized the recent literatures about cash dividend policy and discussed the effects of external envi- ronment and micro-property arrangement on cash dividend. The result shows that the main research direction in the future of this subject will be： the way marketalization and shareholder controll affet cash payment; the effects of marketization and shareholder control on cash dividend.%梳理了国内外有关现金股利政策的最新研究文献，探讨了外部环境和内部产权特征对现金股利的影响。最后认为：考察市场化进程与控股股东控制如何影响公司现金股利支付倾向与程度，进而探讨市场化进程与控股股东控制对现金股利经济后果的影响将是未来研究的主要方向。