low dividend meaning in English
低股利
Examples
- The empirical evidence not only supports that the stock returns are higher during the dividend tax cut event week , but also suggests that firms paying lower dividends in the year of 2002 tend to have higher abnormal stock returns around the dividend tax cut event periods in 2003
实证结果不只证实股票收益在该事件周中变得较高，更显示在2002年付较低股利的公司在2003年的股利税率减免事件期间获得异常高的股票收益。 - Investors who hold stocks with high dividend yields should be in low tax brackets relative to stockholders who hold stocks with low dividend yield . studying the relationship between dividends and stock price movements during 1995 to 2000 , we find the average of the ex - dividend day price ratio is less than one
对1995 - 2000年数据的研究结果表明，股价变动与股利比的均值小于1 ，得出除息日股价相对于股权登记日收盘价下跌幅度小于每股现金股利。 - Early in the thirties of the last century , the western economists began the study on dividend policy . there were three groups , the left , the right and the center . le ftist advocated low dividend , rightist maintained high dividend and center did not think dividend policy is relevant to enterprise valuation , they were called classical theory , later on , they have developed into modern dividend theory , including residual dividend theory , clientele effect theory , ownership structure theory , agency theory , signaling theory and transaction cost theory , etc .
早在上世纪三十年代，西方经济学家就开始了对股利政策的研究，形成了主张低股利的“左派” 、主张高股利的“右派”及认为股利高低与企业价值无关的“中间派” ，其中前二者称为股利相关论，后者称为股利无关论，三者共同构成古典股利理论。 - 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
“一鸟在手”理论主张公司支付高股利,认为股利支付越多,公司价值越高;股利无关论也即mm理论认为公司支不支付股利无所谓,不会影响公司的价值;税差理论则认为在资本利得与股利之间存在税收差异时,少发股利或不发股利对投资者有利,而且这样可以有延迟纳税的好处,所以税差理论主张低股利政策。