本文關(guān)鍵詞：我國(guó)中小企業(yè)板上市公司會(huì)計(jì)信息與股價(jià)相關(guān)性研究　出處：《南京大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 會(huì)計(jì)信息 股價(jià) 中小企業(yè)板 O-F模型

【摘要】：國(guó)內(nèi)外研究表明,上市公司披露的會(huì)計(jì)信息已成為股價(jià)分析的重要依據(jù)。關(guān)于上市公司會(huì)計(jì)信息與股價(jià)的相關(guān)性研究,不僅可以驗(yàn)證股票市場(chǎng)的效率,同時(shí)能夠?yàn)楣就顿Y者的決策制定提供理論依據(jù)。本文對(duì)中小企業(yè)板上市公司會(huì)計(jì)信息價(jià)值相關(guān)性的研究同樣可以驗(yàn)證中小企業(yè)板市場(chǎng)的效率,對(duì)中小企業(yè)投資者的決策有一定的借鑒意義。 本文首先介紹了會(huì)計(jì)信息與股價(jià)相關(guān)性研究的理論基礎(chǔ),分析不同的研究模型,引入O-F模型,以2008年-2010年195家上市公司為樣本進(jìn)行實(shí)證分析,來研究我國(guó)中小企業(yè)板上市公司會(huì)計(jì)信息價(jià)值相關(guān)性,同時(shí)對(duì)樣本公司進(jìn)行了分行業(yè)研究。筆者還結(jié)合中小企業(yè)板上市公司的特點(diǎn)對(duì)O-F模型進(jìn)行拓展,在此基礎(chǔ)上研究中小企業(yè)板上市公司會(huì)計(jì)信息與股價(jià)的相關(guān)性。 本文的主要結(jié)論包括：(1)2008年,每股收益、每股凈資產(chǎn)與股價(jià)呈顯著正相關(guān)關(guān)系。2009年和2010年,每股收益、每股凈資產(chǎn)與股價(jià)沒有顯著的相關(guān)性,而且兩者對(duì)股價(jià)的解釋能力也很小。(2)制造業(yè)會(huì)計(jì)信息與股價(jià)的相關(guān)性要高于其他行業(yè)。(3)通過O-F模型的拓展模型研究得出,凈利潤(rùn)增長(zhǎng)率、資產(chǎn)負(fù)債率與股價(jià)有一定的相關(guān)性,但顯著性不高。 上述結(jié)論總體上表明,我國(guó)中小企業(yè)板上市公司會(huì)計(jì)信息與股價(jià)的相關(guān)性不明顯,即中小企業(yè)板市場(chǎng)還不是有效的。
[Abstract]:The domestic and foreign research shows that the accounting information disclosure of listed companies has become an important basis for analysis of the stock price. Research on the relationship of accounting information and stock price of listed companies, can not only verify the efficiency of the stock market, and can provide a theoretical basis for investor's decision making. This paper research on the efficiency of small and medium sized enterprises board the value relevance of accounting information in listed companies we can demonstrate the SME board market, has a certain significance for the small and medium-sized investors decision-making.
This paper first introduces the theoretical basis of the correlation between accounting information and stock price, analysis of different models, the introduction of the O-F model, in 2008 -2010 of 195 listed companies as the sample of empirical analysis, to study China's SME board listed companies accounting information value relevance, while the Sample Firms of the characteristics of the industry research. According to the SME board listed companies on the O-F model is extended to the relevance of accounting information and stock price of listed companies on the SME board on the basis of this.
The main conclusions of this paper include: (1) 2008, earnings per share, net assets per share and stock price has a significant positive correlation between.2009 and 2010, earnings per share, no significant correlation between the net assets per share and stock price, and both of the explanatory power of stock prices is very small. (2) correlation between manufacturing accounting information and stock price much higher than other industries. (3) the O-F model development model of net profit growth rate, there is a certain correlation between asset liability ratio and stock price, but is not very significant.
The above conclusion shows that the correlation between the accounting information and the stock price of the listed companies of small and medium enterprises is not obvious, that is, the SME board market is not effective.

【學(xué)位授予單位】：南京大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F275;F832.51;F224

【引證文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前1條

1 邵金霞;綜合收益的價(jià)值相關(guān)性研究[D];山東財(cái)經(jīng)大學(xué);2013年

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本文編號(hào)：1361982