A股市场股票估值方法及应用研究

发布时间：2018-01-19 00:30

本文关键词： A股市场股票估值价值投资　出处：《苏州大学》2013年硕士论文　论文类型：学位论文

【摘要】：众所周知，中国资本市场近年来取得了飞速发展，沪深A股市场总市值已居全球前几名。但是中国的股票市场从制度层面上来说还处于起步阶段，股票价格波动幅度大，上市公司的市值不稳定，时常充斥着泡沫论的质疑。在发展成熟的资本市场中，注重探究上市公司的内在价值，注重衡量上市公司的内在价值与市值的关系，这也必然会成为研究中国上市公司的趋势。然而鉴于中国股票市场的独特性，生搬硬套西方成熟市场的现有理论是行不通的，因此探索出适合中国市场的股票估值方法就显得尤为重要，，本文试图在这一方面做出一点尝试。本文在介绍和评析现有股票估值理论的基础上选取了契合A股市场现状的估值方法并且加以改进，以期增强模型对股价的解释能力，并且通过市场的实际数据对改进后的模型进行了试验与检测，取得了较好的结果。
[Abstract]:As we all know, China's capital market has made rapid development in recent years, Shanghai and Shenzhen A-share market total market value has ranked the first few in the world, but China's stock market from the institutional level is still in its infancy. The stock price fluctuates greatly, the market value of the listed company is unstable, often filled with the query of the bubble theory. In the mature capital market, pay attention to explore the intrinsic value of the listed company. The emphasis on measuring the relationship between the intrinsic value of listed companies and market value will certainly become the trend of studying Chinese listed companies. However, in view of the uniqueness of the Chinese stock market. It is not feasible to apply the existing theories of western mature market mechanically, so it is very important to explore the method of stock valuation suitable for Chinese market. This paper attempts to make a little attempt in this respect. Based on the introduction and evaluation of the existing stock valuation theory, this paper selects and improves the valuation method which fits the current situation of A-share market. In order to enhance the explanatory ability of the model to the stock price, and through the actual data of the market, the improved model is tested and tested, and good results are obtained.
【学位授予单位】：苏州大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51

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