本文選題：金融風(fēng)險 + 股票投資價值�。� 參考：《蘭州大學(xué)》2012年碩士論文

【摘要】：金融危機以來,A股市場在經(jīng)歷了三年的調(diào)整之后,銀行板塊整體市盈率已經(jīng)不足10倍,明顯低于A股均值。隨著國內(nèi)貨幣政策的逐步放寬,可以說銀行股的投資價值已經(jīng)初步顯現(xiàn)。 本文結(jié)合金融危機的大背景,參照“國有商業(yè)銀行績效綜合考評法”,通過研究上市銀行的風(fēng)險防范能力、盈利能力、企業(yè)成長性、償債能力四大類指標(biāo)來衡量其公司價值,然后遵循“價值投資”的指導(dǎo)思想,將公司價值作為上市銀行股票投資價值的判斷依據(jù),通過比較分析的方法,對16家上市銀行的投資價值進行排序,為投資者投資這一板塊提供參考。 在選擇財務(wù)指標(biāo)時,本文以遵循指標(biāo)的概括性、關(guān)鍵性、層次性和相關(guān)性以及銀行業(yè)的特殊性為原則,選取了四大類11項財務(wù)指標(biāo)作為上市銀行投資價值評價模型的指標(biāo)基礎(chǔ),然后對其進行無量綱化處理,最終得出各項財務(wù)指標(biāo)對應(yīng)的量化值。在研究方法上,本文利用層次分析法計算出各項財務(wù)指標(biāo)的權(quán)重系數(shù),將指標(biāo)的量化值乘以對應(yīng)的權(quán)重系數(shù),結(jié)合線性加權(quán)法最終構(gòu)建了上市銀行投資價值綜合評價模型,通過這一模型對16家上市銀行的投資價值進行綜合評價。
[Abstract]:Since the financial crisis, after three years of adjustment in the A-share market, the overall price-earnings ratio of the banking sector has been less than 10 times, significantly lower than the A-share average. With the gradual relaxation of domestic monetary policy, it can be said that the investment value of bank stocks has shown. Based on the background of the financial crisis and referring to the comprehensive evaluation method of the performance of state-owned commercial banks, this paper measures the corporate value of listed banks by studying the risk prevention ability, profitability, enterprise growth and solvency. Then follow the guiding ideology of "value investment", take the company value as the judgment basis of stock investment value of listed bank, through the method of comparative analysis, carry on the ranking to the investment value of 16 listed banks. For investors to invest in this plate to provide reference. In the selection of financial indicators, based on the principle of following the general, critical, hierarchical and relevance of the indicators and the particularity of the banking industry, this paper selects 11 financial indicators of four major categories as the index basis of the evaluation model of the investment value of listed banks. Then the dimensionless processing is carried out, and the corresponding quantization value of each financial index is obtained. In the research method, this paper calculates the weight coefficient of each financial index by AHP, multiplies the quantization value of the index by the corresponding weight coefficient, and finally constructs the comprehensive evaluation model of the investment value of listed bank combined with the linear weighting method. The investment value of 16 listed banks is evaluated by this model.
【學(xué)位授予單位】：蘭州大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F832.3;F224

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本文編號：1848507