价值型股票优化方法及其实证研究-工商管理专业论文.docxVIP

AbstractWith Abstract With the development ofChina’s stock market，the investing idea ofinvestor iS becoming mature．Value investing iS becoming one ofthe most important kinds of investing methods．V甜ue investing has got higher return in western stock market in many years．However，the studv ofvalHe investing in China is just in the starting period．The study ofvalue investing in the article iS in order to get a method to choice valuable stock and help investor to choose the stock．which generates high return on investment with lOW financial risk． The basic Value investing strategy is：meastl$℃the intemal value of a stock by some methods of valuation，compare the internal Value with market price and buy the stock which iS undervalued relative to the market price，The method of valuation iS very important to the value investing．Based Oil the efficient market and the fact of China’s stock market，the article bring forward a method to choice value stock：(1)use price earning ratio and earning per share to found original model of valuable stock， choose stock with type character of valuable stock；f21 found intemal value multi-factors model ofvaluable stock through regress analysis when the price ofstock iS reflected the fundamental；(3)use the model to account廿le internal value of valuable stock when the fundamental changed and choose the stock which iS undervalued relative to the market price． Through the analysis of stocks in the 2003—2004 period，it could be found that the model carl generate Kgh return．The model is feasible on the actual application． Keywords：valuable stock；efficient market：fundamental analysis： multi—factors regress analysi s IIl 大连理工大学MBA学位论文原 大连理工大学MBA学位论文 原 创 声 明 本人郑重声明：所呈交的学位论文，是本人在导师的指导下开展研究工作所 取得的成果。除文中特别加以标注和致谢的地方外，论文中不包含任何其他个人 或集体已经发表或撰写过的研究成果，也不包含为获得大连理工大学或其他教育 机构的学位或证书而产生的成果(如学位论文等)。对本文的研究做出重要贡献 的个人和集体均己在文中以明确方式标明，本人完全意识到本声明的法律后果， 并愿为此承担一切法律责任。 一。艄丑绣 曰期： 二‘^岁年弓月多／曰 竺堡型堕墨垡垄查些丝茎壅堡壁茎一——1。引言 竺堡型堕墨垡垄查些丝茎壅堡壁茎一—— 1。引言 1．1价值型股票优选方法研究意义 中国证券市场在不同的发展阶段，因投资者结构不同，经