环保产业上市公司投资价值研究

发布时间：2018-07-26 19:10

【摘要】：随着全球性生态危机的加剧,各工业化国家都遇到了经济和社会发展的瓶颈,各国都面临着新的挑战,为了进一步促进经济社会的发展,许多工业化国家都将环保产业作为了解决目前经济困境的新途径和促进经济发展的新动力。我国也在“十二五”规划中将环保产业列为七大战略性新兴产业之一,未来也将进一步加大对环保产业的投资力度。针对环保产业的投资问题的研究也成为了焦点。本文就是以我国沪深股市中环保产业上市公司为研究对象,分析研究环保产业上市公司的投资价值问题。首先通过分析总结以往的研究成果,从环保产业、环保产业投融资以及上市公司投资价值分析三个方面入手来进行综述。在总结前人研究的基础上,分析了环保产业上市公司的基本面情况,可知目前我国环保产业上市公司的基本面情况相对看好。其次,运用经济价值增加值(EVA)方法对选定的环保产业上市公司的经济价值附加值进行了计算,并运用实证分析检验了环保产业上市公司的经济价值附加值对其股价的解释程度,得出了显著相关的结论。再次,以万华化学为例,对其上市公司股票价值进行了估值,并与其现实股价相比较,判断出其股价被低估,然后通过实践检验,证实了上述判断。最后,总结前文的分析结果,得出了本文的结论,认为：环保产业上市公司是具有投资价值的。
[Abstract]:With the aggravation of the global ecological crisis, the industrialized countries have encountered the bottleneck of economic and social development, and all countries are facing new challenges, in order to further promote economic and social development, Many industrialized countries regard the environmental protection industry as a new way to solve the current economic difficulties and a new power to promote economic development. China also listed the environmental protection industry as one of the seven strategic emerging industries in the 12th Five-Year Plan, and will further increase its investment in the environmental protection industry in the future. The research on the investment of environmental protection industry has also become the focus. This paper takes the listed companies of environmental protection industry in Shanghai and Shenzhen stock market as the research object, and analyzes the investment value of the listed companies of environmental protection industry. First of all, through the analysis and summary of the previous research results, from the environmental protection industry, environmental protection industry investment and financing and listed companies investment value analysis to begin with three aspects to carry on the summary. On the basis of summing up the previous studies, this paper analyzes the fundamental situation of the listed companies in the environmental protection industry, and shows that the fundamental situation of the listed companies of the environmental protection industry in our country is relatively good at present. Secondly, the added value of economic value of selected listed companies in environmental protection industry is calculated by using the method of added value of economic value (EVA), and the degree of explanation of the added value of economic value to the stock price of listed companies in environmental protection industry is tested by empirical analysis. A significant correlation is drawn. Thirdly, taking Wanhua Chemical as an example, this paper evaluates the stock value of its listed company, and compares it with its real stock price, and judges that its stock price is undervalued, and then proves the above judgment through practical test. Finally, the conclusion of this paper is drawn by summing up the above analysis results, that is, the listed companies of environmental protection industry have investment value.
【学位授予单位】：西北大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：X324;F275;F832.51

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