下列股利政策中最能反映股利无关论观点的是（）。
A.剩余股利政策
B.固定或稳定增长的股利政策
C.固定股利支付率政策
D.低正常股利加额外股利政策
参考答案：A
解析：股利无关论认为公司市场价值的高低，是由公司所选择的投资决策的获利能力和风险组合决定，与公司的利润分配政策无关。剩余股利政策的理论依据是MM股利无关理论。根据MM无关理论，在完全理想状态下的资本市场中，公司的股利政策与普通股每股市价无关。
Are you nervous when you stand in front of the public? Are you afraid to make a speech? Li Jun, a middle school boy, felt shy when he was making a speech the other day. Li had thought it would be quite easy to speak in front of 1 classmates. "I was wrong. It was very different and much 2 than talking to my classmates during playtime," Li said. "I tried, but it was really difficult to speak. I felt like a mute (哑巴) and wanted to leave the classroom 3 " Li is not alone. Many middle school students now have the same 4 : they can talk about their ideas freely 5 their best friends after class, but can't speak in public. According to Zhou Hong, a teacher from a university, the main reason is that schools in China pay more attention to writing instead of 6 . Zhou hopes schools can give students more chances to open their 7 , such as speech competitions, English corners and class discussions. Students can join in any one they want to. 8 he also gives some advice to students. "During your free time you should 9 more. When you're speaking in public, take it easy. Just imagine you're talking to nobody and speak up your ideas clearly," Zhou said. "That 10 a fine public speech and you'll feel confident. "
|