2010年沪深A股批发零售行业市盈率的影响因素分析.pdfVIP

2010年沪深A股批发零售行业市盈率的影响因素分析      摘要 ：本文从市盈率的概念出发，探讨了批发零售业公司市盈率的影响因 素。除一般因素外，对于批发和零售业有其特殊的因素。文章在进行了理 论分析后提出相关假设，并以 2010 年的数据为例进行实证分析，最后得 出结论：公司的财务杠杆系数、流动资产周转率和与现金流有关的活动等 与市盈率存在显著的关系，并对于假设中不符的部分提出了可能的解释。    关键词 ：市盈率；批发零售业；实证分析        Empirical Study on Influencing Factors of P/E Ratio of Public Companies in the retail and wholesale industry: Based on data from A Stock Market in 2010    Abstract: This paper conceptually analyses the influencing factors of P/E ratio of companies in the retail and wholesale industry. In addition to general factors, some individual factors act as different roles affecting P/E ratio in the retail and wholesale industry. Some hypotheses are cited following the theoretical analysis and tested by the stock market data. It concludes that there are significant relationships between the financial data-- the degree of financial leverage, current asset turnover, and activities relating to cash flow-- and P/E ratio. The last section provides some potential reasons for the results which are not coincide with hypotheses cited. Key Words: P/E Ratio; the Retail and Wholesale Industry; Empirical Analysis                   基于系统动力学的制造企业现金流预测模型研究     摘要 ：本文运用系统动力学理论，建立企业现金流预测模型，综合反映企 业经营活动、投资活动、筹资活动的现金流变化情况及对现金存量的影响 关系。在此过程中，综合考虑了以上三方面的多个变量因素对企业现金流 的影响，以此来预测企业未来 5 年现金存量、应收账款、应付账款、固定 资产等财务数据的变化趋势，从而为管理者的经营决策提供参考依据。    关键词：系统动力学；现金流；财务预测 Study on Prediction Model of Cash Flow in Manufacturing Enterprises: Based on System Dynamics     Abstract: This paper applies methods of system dynamics to trying building up a model predicting variation of cash flo