基于行业特征的股价影响因素研究——以房地产行业为例

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1、基于行业特征的股价影响因素分析——以房地产行业为例AbstractSincethefoundationofShanghai&Shenzhenstockexchangerespectively,it havebeennearlytwentyyearsforthedevelopmentofChinesestockmarketwhichhas undergonezhangguperiod,valueinvestmentperiodandaftervalueinvestmentperiod. Therefore,thepositionofvalueinvestmentsenseinthemarket

2、isconstantlyemerging. Meanwhile,alongwiththesteadygrowthandstandardizationofstockmarketand deepeningofmarketinnovation,theinformationannouncementsystemisgradually improvedandthusranksofinvestorsaregrowingsteadily.AschinahasenteredWTO andintroducedQFII,Chinesestockmarketisquickeningitsstepstobegeare

3、dto internationalstandards.Therefore,thelivingspaceofspeculationthoughthasbeen greatlyreducedandthestockpricehasnotdependedonthewillofmarketanylonger. Onthecontrary,thebasicinformationofPLC(PublicLimitedCompany)hasbecome theimportantfactorsofstockpricesettingandvalueinvestmentisgradually becomingth

4、emaininvestmentsense.Thisthesisaimstohelpinvestorstomakeadecisionofinvestmentby establishingastockrelativeinnervaluemultiplepricingmodelssuitableforChinese stockmarket,combiningforeignmaturestockpricingtheorywiththeactualsituation ofChinesesharemarket.Ithasgreatpracticalsignificancesinceitwillnoton

5、lyhelp understandtheinformationcontentofsharepriceincludedinthebasicinformationof PLC,butalsoprovidetheorysupportforstockpricingonthebasisofinformationof PLC.Inviewofthecomplexityofstockmarket,thisthesistriestoapplyBPneutral networkmodelwithstrongergeneralizedabilitytofixthepriceandhasachieveda sat

6、isfactoryresult.Throughthisresearch,investorscanhaveabetterunderstandingof rolemechanical,dynamicsandwaysthebasicinformationfactorshaveontheshare priceinordertofindthestockunderestimatedoroverestimatedbythemarket comparingwithinnervalue,thusmakeanappropriateinvestmentstrategy.Thefirstpartofthisthes

7、issumsupallkindsofstockpricingtheoryandmethods inwesternstockmarket;thesecondpartputsforwardtheresearchmethodandsystem ofthisthesisinthelightofChinesestockmarketonthebasisofsummarizing demonstrationresearch