市盈率投资策略的适用性实证研究——基于我国创业板市场

发布时间：2017-12-31 11:02

本文关键词：市盈率投资策略的适用性实证研究——基于我国创业板市场　出处：《平顶山学院学报》2016年05期 　论文类型：期刊论文

更多相关文章： 创业板 市盈率 投资策略 适用性

【摘要】：近期,我国证券市场(尤其创业板市场)的频繁波动引起投资者的高度关注.作为一种重要的投资参考指标,市盈率能否为投资者提供良好的决策依据?针对这一问题,运用因子分析、独立样本T检验等方法,从股票成长性、低市盈率股票投资价值两方面,探究市盈率投资策略是否适用于我国创业板市场.结果显示,高市盈率股票不具有高成长性,甚至是较低的成长性;低市盈率股票的市场表现没有达到理论状态.因此,市盈率投资策略目前在我国创业板市场上效果不显著,市盈率在指导投资中的作用有限.研究结论为监管当局完善创业板市场的相关制度、上市公司优化企业的经营状况、投资者的投资决策提供有用的信息.
[Abstract]:In recent years, the frequent fluctuations of China's securities market (especially the gem market) have aroused great concern among investors. As an important investment reference index, can the price-earnings ratio provide investors with a good basis for decision-making? Aiming at this problem, using factor analysis, independent sample T test, from the stock growth, low price-earnings ratio of stock investment value two aspects. The result shows that high price-earnings ratio stock has no high growth, even low growth. The market performance of low price-earnings ratio stock has not reached the theoretical state. Therefore, the price-earnings ratio investment strategy is not effective in China's gem market at present. The conclusion provides useful information for the regulatory authorities to perfect the relevant systems of the gem market, to optimize the operating conditions of listed companies, and to provide useful information for investors to make investment decisions.
【作者单位】：南京师范大学商学院;
【分类号】：F832.51
【正文快照】： 0引言自2014年下半年开始,我国股市逐渐回暖,上证指数一路上涨突破5 000点,创业板也不负众望不断创新高,甚至突破4 000点,但随后,我国股市暴跌,上证指数跌破3 000点,创业板指数跌破2 000点.截至2015年10月27日,上证收盘指数达3 434.34点,创业板收盘指数达1 928.04点.在此期间,

【相似文献】