agency cost theory of dividend

基本解释

In the case of agency theory and information asymmetry, cost of capital should be considered during the process of making dividend decisions.
在委托代理關系和信息不對稱條件下，公司經理應以資本成本決策股利支付，貫徹資本成本觀唸。
Firstly, it sums up the agency cost analysis and the signaling analysis of dividend policy by a theory named as the Theory of Dividend Policy under Asymmetric Information;
本文研究的主要成果有三點：一是將股利政策代理成本分析和股利政策信號傳遞分析系統地歸納爲非對稱信息股利政策理論；
The theory of information transition and agency cost argues that debt and dividend in incentive contract can mitigate adverse selection and moral hazard, and can be replaced by each other.
信息傳遞理論和代理成本理論認爲，在激勵契約中，負債和現金股利可以相互替代，但是現實中負債與現金股利卻共存於激勵契約。