股利

From the taxpayer's point of view, it might make sense to limit dividend payments to other shareholders until the government's preference shares have been paid off.

从纳税人的角度看，要求银行在向政府持有的优先股支付股利之前限制向其他股东的股利分派，这是可以理解的。

One hand, it is necessary to corporation for retained earnings, on the other hand, dividend is return for stockholders.

这种功能的弱有效性使得我国股利政策表现出很大的特殊性，因而在股利分配上也表现出很大的不同。

The self-profit right consists dividend distribution right,residuedistribution right,share transfer right,and so on.But in this chapter,only theactions about dividend distribution right and residue distribution right areresearched.

自益权包括股利分配权、剩余财产分配权、股份转让权等，但在本章中，则仅对股利分配权和剩余财产分配权的诉讼问题进行了研究。

The dividend policy has special effect in the operation of companies. On the one hand, it is the logic continuing after companies financing and investment activity, also the certain result. On the other hand, the suitable dividend policy can not only make good image of companies but also stimulate the investors to keep their investment to the company, so that the company can get more opportunities and good condition for long-term and steady development.

股利政策在公司运营中起到特殊的作用，一方面它是公司筹资、投资活动的逻辑延续，公司理财行为的必然结果；另一方面恰当的股利政策不仅可以树立良好的公司形象，而且能激发广大投资者对公司持续投资的热情，从而使公司获得长期稳定的发展条件和机会。

Department of China is still emerging from the capital markets, and mature markets, in China, the stock dividend is still an important form of dividends.

我国因尚系新兴的资本市场，和成熟的市场相比，在中国，股票股利仍属一种重要的股利形式。

A stock dividend is a proportional distribution by a corporation of its own stock to its stockholders.

股票股利是公司将其股票按比例分配给股东的一种股利方式。

Cash dividend, stock dividend, stock split

现金股利，股票股利，股票分割

Preferred stock whose dividend changes, usually quarterly, according to changes in the Treasury Bill rate or a similar benchmark.

这种浮动股利的优先股会根据参考利率的变化，对股利进行调整。

Author finds that ownership structure and organizational characteristics have significant impact on dividend policy;the large shareholders have stronger incentive to force management disgorges free cash flow.

本文发现，股权结构(股权集中度和大股东持股)和组织特征(盈利能力、盈余水平、现金拥有量、公司规模和财务杠杆)均对现金股利政策具有一定的影响(而且大多数影响在统计上是显著的)，大股东整体上具有分配现金股利的倾向和能力。

The author finds that both the ownership structure and organizational characteristics have significantly positive impacts on dividend policy; the large shareholders have stronger incentive to distribute corporate cash, and force management disgorges free cash flow.

本文发现，股权结构（第一大股东持股、前二大股东持股和前三大股东持股）对现金股利发放概率具有显著的正向影响。公司各项组织特征（成长性机会、每股收益、每股留存盈余、资产规模和财务杠杆）也对现金股利发放概率具有显著的影响。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。