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1、AbstractWiththeeconomydevelopment,theChinesesecuritiesmarketis
becomingmature.Scholarsandinvestorsarepayingcloserattentiontothe
influencefactorsforstockreturnrate.Moreandmoretheoryisimportedtothe
securitiesmarket.However,securitiesmarketisfullofrapidly,sothestudyof
securitiesmarketisendless.Inthis
2、paper,itdiscussestheinfluencefactorsfor
stockreturnrateinthreeaspects,includinginflation,industryfactorandlisted
companyfinancialstatus.Firstly,clarifythedifferentfactors,stockpriceandinnervalueintheory;
demonstratetherelatedtheoryforvarietyoffactorstostockreturnrate,and
simplyintroducethefamousFi
3、shereffecttheory,AgentHypothesistheoryand
VolatilityHypothesistheory.Intheoryofindustryfactors,discussthecurrent
characteristics,industrygrowingperiodandtherelationsbetweenindustry
factorsandstockreturnrate.Infinancialtheory,discussgeneralrulesof
financialanalysisandthreeimportantfinancialstatemen
4、treports.Secondly,makeempiricalanalysistotheinfluenceofinflationtoChinese
listedcompanystockreturnrate,useVARmodel,JohansentestandGranger
testtomakeempiricaltesttotheinfluenceforstockreturnrate.Thirdly,onthepointofindustryfactor,useSharpmodeltomakereturn
analysistotheShanghaiStockindexreturnanddif
5、ferentindustryindexreturn.
Inthecomparisonofindustrialrelations,usecorrelationanalysistostudythe
influencefromindustryfactorstostockreturnrate.Discusstherelation
betweenindustryreturnrateandstockreturnrate,aswellastherelationamong
differentindustryreturnrate.Then,makeempiricalanalysistothefinancia
6、lstatusoflistedcompany.
Inthislevel,useArbitragePricingModeltoreturnthestockreturnrateandall
financialindexes.SearchthesignificantlevelofallfinancialindexesandstockII万方数据returnrate,usePrincipalComponentAnalysismethodtodotheempiricaltesttoallfinancialindexes,andthengettheinfluencefromallfinancialin
7、dexestostockreturnrate.Finally,basedonthestudyofthispaperandcurrentstatusofChinesesecuritiesmarket,providerelativesuggestionsandmeasurementstoinflationadjustment,listedcompanysupervisionandinvestors.KeywordsStock
