用财务指标评判上市公司投资价值（Evaluating the investment value of listed companies by using financial indicators）.docVIP

用财务指标评判上市公司投资价值（Evaluating the investment value of listed companies by using financial indicators） Chinas stock market has been developing for more than ten years, and the investment concept is also in the process of training and evolution. At present, the market has shifted from retail investors to the game between institutional investors. Institutional investors are mostly orthodox investment value, so how to measure the listed companies from different angles of the investment value, how to control market risk, institutional investors and ordinary investors are facing the problem. This paper tries to start with the commonly used indicators in the market, according to the current financial characteristics of Listed Companies in China, to create some new financial indicators, trying to make a more fair measurement of the investment value of listed companies. Due to institutional defects of Chinas securities market, the corporate governance structure is not perfect, financial management goal is not to maximize shareholder interests, but the interests of shareholders to maximize the profits of listed companies manipulated profit manipulation phenomenon is more serious, including floating profit praise and pressure, so the financial data of domestic listed companies also showed some characteristics of its own. The author believes that it is necessary to establish some new indicators to judge the investment value of listed companies from a more real, more reliable and more comparable point of view. 1, net price per share / net cash flow from operating activities Because the accounting profit is calculated according to the accrual basis and the matching principle, the human estimation is stronger. According to the basis of preparation of the cash flow statement can help to understand the profitability of Listed Companies in the real gold, the ratio of net cash flow and net profit for investors from operating activities to identify profit. With the ratio of market price p