本文選題：價值投資　切入點：廣發(fā)證券　出處：《蘭州大學》2012年碩士論文　論文類型：學位論文

【摘要】：我國經濟的快速發(fā)展和居民收入水平的不斷提高,大眾的投資意識也逐漸增強,證券市場逐步成為了廣大投資者的一個重要投資渠道。但我國證券市場發(fā)展尚不成熟,投機性很強,市場波動風險較大；而廣大投資者缺乏正確的投資理念,在投資時常常損失慘重。因此投資者要在證券市場投資成功,樹立正確的價值投資理念,合理的評估股票價值非常重要。 本文以廣發(fā)證券公司為研究對象,在疏理相關股票投資價值分析理論、方法的基礎上,對廣發(fā)證券公司股票進行投資價值分析。本文采用基本面分析方法,通過對證券公司行業(yè)現狀和發(fā)展趨勢的分析,研究和分析廣發(fā)證券公司的競爭優(yōu)勢及影響因素；同時詳細研究和分析了廣證券公司的業(yè)務狀況和財務狀況,在此基礎上,選用三階段股利貼現模型和市盈率模型對廣發(fā)證券公司進行價值評估,并最終確定了廣發(fā)證券公司股票的內在價值在29.09元-53.08元之間。 本文通過對廣發(fā)證券投資價值的分析和研究后得出,廣發(fā)證券公司將迎來新一輪的快速成長期,公司具有良好的投資價值。目前公司股價與本文對廣發(fā)證券的估值相比,具有足夠的安全邊際,投資者可以買入廣發(fā)證券股票進行中長期投資,分享廣發(fā)證券不斷成長帶來的收益。
[Abstract]:With the rapid development of our country's economy and the continuous improvement of residents' income level, the public's investment consciousness has been gradually strengthened, and the securities market has gradually become an important investment channel for the vast number of investors. However, the development of China's securities market is not yet mature. Speculation is very strong, market volatility is risky, and the majority of investors lack the correct investment concept and often lose a lot of money. Therefore, investors should succeed in investing in the securities market and set up the correct value investment concept. It is very important to evaluate the stock value reasonably. This paper takes Guangfa Securities Company as the research object, on the basis of the theory and method of dredging related stock investment value analysis, carries on the investment value analysis to Guangfa Securities company stock. Through the analysis of the present situation and development trend of the securities companies, the paper studies and analyzes the competitive advantages and influencing factors of Guangfa Securities Company, and at the same time, studies and analyzes the business and financial status of the Guangzhou Securities Company in detail, on the basis of which, The three-stage dividend discount model and the price-earnings ratio model are used to evaluate the value of Guangfa Securities Company, and the intrinsic value of Guangfa Securities stock is determined to be between 29.09 yuan and 53.08 yuan. Based on the analysis and study of Guangfa Securities's investment value, this paper draws a conclusion that Guangfa Securities Company will usher in a new round of rapid growth period, and the company has good investment value. With sufficient margin of safety, investors can buy Guangfa Securities stocks to invest in the medium-to-long-term, and share the benefits of Guangfa Securities's growing.
【學位授予單位】：蘭州大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.51

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本文編號：1617409