医药股票影响因素的分析

发布时间：2018-04-22 10:17

本文选题：医药行业 + 股票价格　；参考：《北京理工大学》2015年硕士论文

【摘要】：医药行业在各国国民经济中有着重要的地位,医药工业生产总值占国民生产总值的比重也在不断的增加。医药上市公司在国民股票中的地位也是很重要的。因此,正确的分析医药股票价格的影响具有重要的意义。对医药行业的上市公司股票价格估计,一般分为相对估值法和绝对估值法两种。但是在实际应用中,绝对估值法在准确性上比较有限,因此相对估值法在医药类上市公司的股票价格研究中有着广泛的应用。而市盈率法就是相对估值法中应用最广泛的方法之一。本文首先以市盈率作为衡量医药股票价格的标准,市盈率是股价与每股收益率的比率,可以作为衡量股票价格是否虚高的标准。因此本文首先研究影响医药行业市盈率的因素,如:β系数、固定资产周转率、换手率;其次研究了那些影响医药行业的特殊因素,如:申请专利数量、研发费用占营业收入的比例;最后,对影响医药行业市盈率的因素进行了实证分析,得出最终的医药行业上市公司股票市盈率的决定模型。
[Abstract]:The pharmaceutical industry plays an important role in the national economy of various countries, and the proportion of the gross domestic product (GNP) of the pharmaceutical industry is also increasing. Pharmaceutical listed companies in the national stock position is also very important. Therefore, the correct analysis of the impact of pharmaceutical stock prices has an important significance. The stock price estimation of listed companies in pharmaceutical industry is generally divided into two kinds: relative valuation method and absolute valuation method. However, in the practical application, the absolute valuation method is relatively limited in accuracy, so the relative valuation method has been widely used in the research of the stock price of pharmaceutical listed companies. The price-earnings ratio method is one of the most widely used methods in the relative valuation method. In this paper, the price / earnings ratio is the ratio of the stock price to the return per share, which can be used as a measure of whether the stock price is false or not. Therefore, this paper first studies the factors that affect the P / E ratio of the pharmaceutical industry, such as 尾 coefficient, turnover ratio of fixed assets, turnover ratio of the fixed assets, and then studies the special factors that affect the pharmaceutical industry, such as the number of patent applications, Finally, the factors that affect the P / E ratio of the pharmaceutical industry are analyzed empirically, and the final decision model of the P / E ratio of the listed companies in the pharmaceutical industry is obtained.
【学位授予单位】：北京理工大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F832.51

【参考文献】