新能源行业上市公司投资价值研究

发布时间：2018-03-25 21:22

本文选题：新能源　切入点：主成分分析　出处：《中南大学》2013年硕士论文

【摘要】：：虽然我国步入新能源行业相对较晚,但其发展势头迅猛行业前景良好,当前该行业愈来愈受到投资者的青睐和关注。因此研究新能源行业是否具有投资价值,以及有效找出新能源上市公司中最具有投资价值的上市公司具有重要的现实意义。论文借助上市公司投资价值相关理论及方法,对新能源上市公司投资价值进行了系统研究,构建了综合评价模型,并运用SPSS19.0对新能源行业投资价值进行数据分析得到新能源行业上市公司的综合评价结果,并在此基础上以上海电气为例,运用估价模型进行重点公司研究。论文主要研究工作体现在以下几个方面： (1)对新能源行业上市公司投资价值进行基本面分析。首先采用PEST模型研究了宏观环境对新能源上市公司投资价值的影响,良好的宏观环境是行业发展的基础。其次从中观角度即新能源行业的生命周期以及市场竞争结构出发阐述了行业因素对上市公司投资价值的影响。分析结果表明新能源行业具有绝对投资价值。最后从公司的角度研究了影响上市公司投资价值的微观影响因素。并在此基础上构建了新能源上市公司投资价值指标评价体系。 (2)对新能源行业上市公司系统的综合评价研究。本文以新能源行业上市公司2010-2012年的财务数据和相关非财务数据为基础,运用多元统计分析方法,建立综合评价模型,并运用SPSS19.0软件进行数据分析,计算出样本上市公司的综合得分并进行排序、分类,结果显示前15名上市公司综合得分为正值,表明其处于新能源上市公司的平均水平之上,排名越靠前,投资价值相对越大。投资者可以据此方便快捷的对新能源上市公司的投资价值做出相对准确的评价和投资决策。 (3)以上海电气为例,利用市盈率估价模型分析重点上市公司的内在价值,研究发现上海电气投资价值被投资者低估,未来上升空间很大,并且公司盈利能力和成长能力较强,值得投资者长期持有。本文中共有图18幅,表31个,参考文献82篇。
[Abstract]:Although it is relatively late to enter the new energy industry in China, the rapid development of the industry has a good prospect. At present, the industry is attracting more and more attention from investors. Therefore, the study on whether the new energy industry has investment value, It is of great practical significance to find out the most valuable listed companies in the new energy listed companies. With the help of the theories and methods of investment value of listed companies, this paper systematically studies the investment value of new energy listed companies, and constructs a comprehensive evaluation model. Using SPSS19.0 to analyze the investment value of new energy industry, the comprehensive evaluation results of listed companies in new energy industry are obtained, and based on this, Shanghai Electric is taken as an example. The main research work of this paper is reflected in the following aspects:. 1) the fundamental analysis of the investment value of the listed companies in the new energy industry. Firstly, the influence of the macro environment on the investment value of the listed companies in the new energy industry is studied by using the PEST model. Good macro environment is the basis of industry development. Secondly, from the perspective of the life cycle of new energy industry and market competition structure, this paper expounds the influence of industry factors on the investment value of listed companies. The new energy industry has absolute investment value. Finally, the micro factors influencing the investment value of listed companies are studied from the perspective of the company, and on this basis, the evaluation system of investment value index of new energy listed companies is constructed. Based on the financial data and related non-financial data of listed companies in new energy industry from 2010 to 2012, a comprehensive evaluation model is established by using the method of multivariate statistical analysis. Using SPSS19.0 software to analyze the data, the comprehensive scores of the listed companies are calculated, sorted and classified. The results show that the top 15 listed companies have positive scores, indicating that they are above the average level of the new energy listed companies. The higher the ranking, the greater the investment value. Investors can make relatively accurate evaluation and investment decision on the investment value of new energy listed companies. Taking Shanghai Electric as an example, this paper analyzes the intrinsic value of key listed companies by using the price-earnings valuation model. It is found that the investment value of Shanghai Electric is undervalued by investors, and there is great room for future increase, and the company has strong profitability and growth ability. In this paper, there are 18 figures, 31 tables and 82 references.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F426.2;F275

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