A Study On Corporate Governance, Cash Dividends And Over-investment Behavior: Based On Manufacturing Listed Companies

In the eighties of the 20 th century in western capitalist countries began to use BOT financing model to attract project company funds to invest in the construction of infrastructure, BOT pattern in western countries made a great success and was in Asia, Africa and Latin America and other developing countries the use of.BOT English Build Operate Transfer acronym, which means the project construction, operation and transfer, in particular to the government and the BOT project company financing agreement as the premise, allowing the BOT project company financing in the provisions of the contract for infrastructure for investment in the construction and management, and in the contract period after the end of the project will be transferred to the government. In the 90 s of the 20 th century in China under the shortage of funds for infrastructure were some BOT financing mode of pilot projects, especially to attract the project company in BOT mode into infrastructure construction industry.BOT financing model implementation of the economic development of our country, the reform of the economic system and training of specialized talents of BOT has a positive role, how to better improve the government in BOT financing role both the construction of public facilities in our country is to promote the development of enterprise financing has an important role.This paper is divided to five parts. The first part first introduced the selected topic background, significance and BOT financing mode in the domestic and foreign research status. The second part first introduced the concept of BOT financing mode, characteristics, secondly, the BOT financing pattern in the development process of our country to play the positive role of elaborate analysis, once again, believe explains the operation of BOT financing model BOT project company and the government of the contractual relationship, between the project company and the public service relationship, political relationship between the government and the public. Focus on writing the BOT financing the project company and the government; the third part is the BOT financing mode, the problem for the role of the Chinese government and the government role dislocation and vacancy, and their causes were analyzed. Fourth chapter is mainly about the United States, Japan in the BOT financing mode in the role of government and the BOT financing model of success were some experience summary. Last part is the key, in reference to the United States, Japan successful cases based on the summed up for our BOT financing mode for the development of the role of government. These roles include management role, role of coordinator, facilitator role. The role of protector and so on.