基于财务分析视角农业类股票定价研究
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摘要
以农业类上市公司为研究对象,采用相关性分析和逐步回归分析的方法,研究财务指标对股票定价的响应机制。结果表明,财务因素对股价具有较强的解释能力,其中以每股收益为基础的盈利能力指标处在核心地位,股价也高度依赖于盈利质量的好坏,同时短期偿债能力对股票定价也会产生影响。
Agricultural listed companies as the research object,using correlation analysis and stepwise regression analysis method,the thesis studies the response of the financial indicators of stock pricing mechanism. Results show that the financial factors on the share price has strong ability of explanation,which is based on earnings per share of profitability indicators in the core position,shares are highly dependent on the earnings quality,and at the same time,short-term solvency has impact on stock price also.
Agricultural listed companies as the research object,using correlation analysis and stepwise regression analysis method,the thesis studies the response of the financial indicators of stock pricing mechanism. Results show that the financial factors on the share price has strong ability of explanation,which is based on earnings per share of profitability indicators in the core position,shares are highly dependent on the earnings quality,and at the same time,short-term solvency has impact on stock price also.
引文
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[4]Collins D W,Maydew E L,Weiss I S.Changes in the Value-Relevance of Earnings and Book Values over the Past Forty Years[J].Journal of Accounting&Economics,1997,(09):24-39.
[5]吴世农,黄志功.上市公司盈利信息报告、股价变动与股市效率的实证研究[J].会计研究,1997,(04):12-17.
[6]陆静,孟卫东,廖刚.上市公司会计盈利、现金流量与股票价格的实证研究[J].经济科学,2002,(05):36-42.
[7]郑儒彬.上市公司主要财务指标与股价变动的相关性分析[J].财会研究,2009,(05):49-51.
[8]王汉生,张瀚宇,何天英.上市公司财务参数与其股价波动性关系探究[J].证券市场导报,2010,(02).
[9]姜继娇,常然然.创业板公司关键财务指标与股价关联性研究[J].科技与产业,2013,(05):69-73.
[10]贾文,蔡莹莹,郭蒙阳.公司财务分析视野中的零售商业股定价实证研究[J].经济问题,2014,(04):88-93.
[11]杨雷,张彤.农业类上市公司会计信息与股价的关联性分析[J].沈阳理工大学学报,2015,2(01):77-81.
[2]Ball.R and Brown.P.An Empirical Evaluation of Accounting Income Numbers[J].Journal of Accounting Research,1968,14(03):34-35.
[3]Beaver.W.H,Clarke.R and Wright.W.F.The association between unsystematic security percentage change in price and them agnitude of earnings foreast errors[J].The Joural of Accorunting Research,1997,24(06):12-20.
[4]Collins D W,Maydew E L,Weiss I S.Changes in the Value-Relevance of Earnings and Book Values over the Past Forty Years[J].Journal of Accounting&Economics,1997,(09):24-39.
[5]吴世农,黄志功.上市公司盈利信息报告、股价变动与股市效率的实证研究[J].会计研究,1997,(04):12-17.
[6]陆静,孟卫东,廖刚.上市公司会计盈利、现金流量与股票价格的实证研究[J].经济科学,2002,(05):36-42.
[7]郑儒彬.上市公司主要财务指标与股价变动的相关性分析[J].财会研究,2009,(05):49-51.
[8]王汉生,张瀚宇,何天英.上市公司财务参数与其股价波动性关系探究[J].证券市场导报,2010,(02).
[9]姜继娇,常然然.创业板公司关键财务指标与股价关联性研究[J].科技与产业,2013,(05):69-73.
[10]贾文,蔡莹莹,郭蒙阳.公司财务分析视野中的零售商业股定价实证研究[J].经济问题,2014,(04):88-93.
[11]杨雷,张彤.农业类上市公司会计信息与股价的关联性分析[J].沈阳理工大学学报,2015,2(01):77-81.