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.
在委托代理关系和信息不对称条件下，公司经理应以资本成本决策股利支付，贯彻资本成本观念。
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点：一是将股利政策代理成本分析和股利政策信号传递分析系统地归纳为非对称信息股利政策理论；
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.
信息传递理论和代理成本理论认为，在激励契约中，负债和现金股利可以相互替代，但是现实中负债与现金股利却共存于激励契约。