XÂY DỰNG CHÍNH SÁCH PHÂN PHỐI LỢI NHUẬN CHO CÁC CÔNG TY CỔ PHẦN NIÊM YẾT VIỆT NAM

MUCLUC cAc CHU VIET TAT M6DAU CHUONG 1: CO SOL Y LU!N VE CONG TY CO PHAN VA CHINH SACH PHAN PHOI TRONG CONG TY CO PHAN 1.1 c6No TY c6 PHAN 1.1.1 Khai ni~m - S\f hinh va ph at tri~n cong ty cfJ phfm 1.1.2 Cac Io1;1i hinh cong ty c6 ph~n 1.1.2.1 Cong ty c6 ph~n nng tai trq 35 2.2 THl/C TRANG CHINH sACH PHAN PHOI CUA cAc CONG TY CO PHAN NIEM YET THdi GIAN QUA 38 2.2.1 Cac qui dinh c6 tinh phap ly v~ phan ph6i lqi nhu~n, chia c6 tuc cong ty c6 ph~n 38 2.2.2 Tinh hinh chi tra c6 tuc cua cac cong ty niem y~t thai gian qua 39 2.2.2.1 Muc c6 tuc - ty 1~ DPS/EPS 39 2.2.2.2 Ty 1~ cb tuc/ dong ti~n 42 2.2.2.3 Ty su~t cb tuc- dividend yield 46 2.2.3 cb tuc cb phi~u va mua l;;ti cb phi~u 48 2.2.3.1 cb tuc cb phi~u 2.2.3.2 Ho;;tt d()ng mua l;;ti cb phi~u 49 2.3 ········································································································ 48 cAc YEU TO KHAc ANH HVdNG DEN cHiNH sAcH PHAN PHOI cuA cAc c6NG TY NIEM YET 50 2.3.1 Dbi tuqng dfiu tu vao cac CTNY 50 2.3.2 Tinh hinh cong b6 va ti~p c?n thong tin 51 2.3.3 Thu tvc- chi phi phat hanh cb phi~u m&i 53 2.3.4 Cac qui dinh v~ thu~ lien quan d~n thu nh?p tu dfiu tu vao chung khoan 56 2.4 NHA.N XET CHINH SACH CO TVC CUA cAc CTNY THCH GIAN QUA 56 Chuong 3: PHUONG HVONG xA Y Xl)NG CHINH SACH PHAN PHOI CHO cAc CONG TY NIEM YET VII~:T NAM Quan di~m xay dl,l"ng chinh sach cb t(rc 61 Xay dl,l"ng chinh sach cb tuc phil hqp v&i tung giai do;;tn chu ky sbng cua DN 62 2.1 Cac din cu d~ xac dinh giai do;;tn phat tri~n chu ky sbng 62 3.2.2 Xay dl,l"ng chinh sach c6 tuc phil hqp v&i tung giai do;;tn chu ky sbng cua DN ········································································································································ 64 2.2.1 Giai do;;tn khai S\f 64 3.2.2.2 Giai do;;tn tang truang 64 3.2.2.3 Giai do;;tn rna r()ng- bao hoa 65 3.2.2.4 Giai do;;tn suy thoai 67 3.3 Xay dl,l"ng Chinh sach cb tuc phil hqp v&i di~u ki~n thi trung cua c6ng ty di~u ki~n m6i cua n~n kinh t~ mr6c ta hi~n 77 3.5.2 Dao t~o can b(> c6 ki~n thfrc chuyen m6n, d~c bi~t la ki~n thfrc v~ tai chinh va thi tnrang chfrng khoan 79 3.5.3 T6 chfrc l~i h~ thbng quan ly, nang cao ch~t luqng dv bao 80 ' ; H oan th H;n vH;c cong b o th ong t m ve cong ty 80 0 A A A KETLUAN TAl LI$U THAM KHAO PH1) L1)C A ;:_ A DANH MUC cAc TUVIET TAT nghi~p DN: Doanh CTNY: Cong ty niem y~t TCNY: T6 chuc niem y~t TTCK: Thi truang chung khoan TTGDCK: Trung Him giao dich chung khoan HDQT: H9i d6ng quan DNNN: Doanh UBCKNN: Uy ban chung khoan Nha nuac BCTC: Bao cao TNDN: Thu nghi~p t~ti nh~p tri nha nu&c chinh doanh nghi~p MODAU Tinh c§p thi~t cua d~ tai Cling v6i chu truang da d~ng h6a sa hfru va qua trinh cai each khu V\fC kinh t~ Nha nu6c, nhiSu cong ty c6 ph~n da d