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Puzzle of Growth and Futher： Growth and Valuation， Principle and Application.doc

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Puzzle of Growth and Futher： Growth and Valuation， Principle and Application.doc

Puzzle of Growth and Futher： Growth and Valuation， Principle and Application 　　[a] Business School， Beijing Wuzi University， Beijing， China. 　　*Corresponding author. 　　Supported by Beijing Wuzi University Fund of Technology innovation platform for business operations and corporate services Innovation. 　　Received 5 September 2012； accepted 31 October 28， 2012 　　Abstract 　　How to valuate a fast growing event？ Will a company be in the further that it is fast growing now？ According to valuation theoretical basis of modern finance， the paper direct towards the growth and value of the basic industries listed companies of A-stocks in SSE by empirical research with simplifies relevant parameters. The results include the stock price preferences， return on investment， profitability， and future condition. 　　Key words： Growth； Valuationg； Growth； Basic industies； Emprical research 　　Wang Jing （2012）. Puzzle of Growth and Futher： Growth and Valuation， Principle and Application. International Business and Management， 5（2）， -0. Available from： http：///index.php/ibm/article/view/j.ibm.1923842820120502.Z0842 　　DOI： http：///10.3968/j.ibm.1923842820120502.Z0842 　　INTRODUCTION 　　Is rapid growth always valuable？ Will rapid growth be worth？ Does cash cow mean have valuation？ How about relationship between company’s valuation and company’s growth rate？ Is list-companies’ stock price over their valuation？ How about the relationship between growth and efficiency？ Chinese high growth is a highlight in world economics； in which of Chinese basic industries always plays a leader of economic， empirical research on such growth of sustainability maybe provide some answers. 　　We can’t catch the accurate data of corporation’s valuation， such as we can’t correctly get the equilibrium price even if in the complete market. However， we can estimate the corporation’s true value based on researching relationships between growth and efficiency， which according to modern corporation financia