preference dividend 中文意思是什麼
preference dividend
解釋
優先股利- preference : n. 1. 優先選擇；偏愛。2. 優先選擇物，偏愛物。3. 【法律】優先權；特惠〈特指關稅〉；（債權人）受優先償還的權利；選擇機會。4. 一種牌戲。
- dividend : n. 1. 【數學】被除數 opp. divisor。2. 紅利，股息；利息；（破產時清算的）分配金。3. （一般的）份兒；報酬。
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Accrued cumulative preference share dividend
應累算的累積優先股股息 -
In fact, it is the special system of our country that increase the incoherence and unconditionally of all the stockholders and the lack of the true investors. these two elements increase the stockholders " dissimilated behavior. in dividend policy, the difference of payment level resulted from the variance of the controlling degree embodies not the difference of stockholders " decision making to increase the company " value but the particular preference of the nonnegotiable shareholders and the management
而最根本的原因是由於我國特定製度安排導致了股東群體的非一致性和非制約性的強化以及真正投資主體的缺位，兩個因素的共同作用加劇了股東行為的異化，表現在股利政策上，由股權控制度變化產生的支付水平差異主要體現為非流通股股東及管理層的特殊偏好，而從質的角度，以公司價值為目標的真正股東化主體的決策差異分析無效。 -
This paper analyzes the influence of decentralization of stock right structure on the dividend - paying policy of the listed corporations, and puts forward the point that the dividend - paying tendency, contrary to the generalized anticipation, will not be intensified after stock right decentralized allot revolution, which is based on the following empirical tests : the earning capability difference between dividend - paying and non - dividend - paying listed corporations, the preference to dividend - paying corporation of tradable shareholders and the relationship of stock right structure and dividend - paying tendency
通過對我國分紅與不分紅上市公司盈利能力、流通股東對分紅公司的偏好以及上市公司股權結構與分紅傾向三方面的實證，探討股權結構的分散化將對我國上市公司股利政策產生的影響，提出了股權分置改革后，我國上市公司分紅傾向很可能與廣泛預期相反，呈下降態勢。 -
There are many mechanics can be used, such as the preference share, the redeemable preference share, convertible preference share, the income bond, the anti - dilution clause, the protection against dilution, mandatory dividend, convertible preference bond, participating preference share, etc. however, in the contract freedom, some stakeholders, such as creditors, minority shareholders, suffer from significant information imperfections and negative externalities
原因在於，當公司向股東分配股票，包括股票股利、資本公積金轉增股本時，不會導致財產流出公司，不會減少對優先股股東和債權人的擔保財產，通常不會損害優先股股東和債權人利益，不會對優先股股東和債權人產生負的外部性。克服負外部性的機制之一是，通過程序強制，為第三方參加締約創造機會。 -
Preference shares are more like fixed - interest loans since the dividend is set in advance, and must be paid if the company is in profit
優先股的股息是預先固定的，因此更像是債券，只要公司有盈利，就必須付股息。 -
The bird - in - the - hand theory recommends high dividend, mm theory believes that it doesn ’ t matter whether the dividend is paid or not, and tax differentials - theory recommends low dividend. and the modern theories include clientele effect - theory, signaling hypothesis, and agency cost hypothesis. clientele effect - theory believes that corporation should adjust dividend according to the shareholders ’ preference
「一鳥在手」理論主張公司支付高股利，認為股利支付越多，公司價值越高;股利無關論也即mm理論認為公司支不支付股利無所謂，不會影響公司的價值;稅差理論則認為在資本利得與股利之間存在稅收差異時，少發股利或不發股利對投資者有利，而且這樣可以有延遲納稅的好處，所以稅差理論主張低股利政策。
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