本文選題：股票投資 + SWOT分析��； 參考：《安徽財(cái)經(jīng)大學(xué)》2014年碩士論文

【摘要】：股票投資價(jià)值是投資者做出投資決策的重要依據(jù),然而中國(guó)資本市場(chǎng)起步較晚,不完善的資本市場(chǎng)制度、不健全的價(jià)值投資理念催生了一系列跟風(fēng)炒作現(xiàn)象,投資者對(duì)股票的投資分析大部分也只停留在技術(shù)層面。因此,價(jià)值投資理念的樹(shù)立以及投資價(jià)值評(píng)估方法的正確運(yùn)用有助于中小投資者獲得穩(wěn)定收益,規(guī)避不必要的風(fēng)險(xiǎn),同時(shí)也有利于證券市場(chǎng)的穩(wěn)定和健康發(fā)展。 股票投資價(jià)值評(píng)估需要理論與實(shí)踐相結(jié)合共同研究。本文以JH汽車(chē)公司為例,采用規(guī)范的基本面分析方法,綜合運(yùn)用管理學(xué)、會(huì)計(jì)學(xué)、資產(chǎn)評(píng)估相關(guān)知識(shí),從宏觀(guān)經(jīng)濟(jì)現(xiàn)狀和發(fā)展趨勢(shì)、行業(yè)生命周期和產(chǎn)品供需格局、公司發(fā)展戰(zhàn)略和競(jìng)爭(zhēng)實(shí)力這三個(gè)層面對(duì)JH汽車(chē)公司成長(zhǎng)性進(jìn)行了深入細(xì)致的比較分析。運(yùn)用SWOT分析法總結(jié)提煉出JH汽車(chē)公司所面臨的機(jī)會(huì)、威脅以及其具有的優(yōu)勢(shì)、劣勢(shì)。本文主要采用市場(chǎng)法和收益法,分別對(duì)上市的JH汽車(chē)公司股票價(jià)值進(jìn)行評(píng)估。其中通過(guò)收益法的FCFE模型確定jH汽車(chē)公司的股票內(nèi)在價(jià)值為9.86元,而用市場(chǎng)法(P/B, P/E, P/S)確定JH汽車(chē)價(jià)值區(qū)間為11.4-16.04元。從JH汽車(chē)公司目前(2014年3月31日)的股價(jià)來(lái)看,價(jià)格低于內(nèi)在價(jià)值,建議定期定量買(mǎi)入,但是投資者應(yīng)該選擇長(zhǎng)期關(guān)注該股以及相關(guān)的宏觀(guān)、行業(yè)動(dòng)向,在股價(jià)回歸會(huì)高于內(nèi)在價(jià)值時(shí),持觀(guān)望。
[Abstract]:The value of stock investment is an important basis for investors to make investment decisions. However, the late start of Chinese capital market, the imperfect capital market system and the imperfect concept of value investment have given birth to a series of speculation following the trend. Most of the investment analysis of stocks by investors only stays at the technical level. Therefore, the establishment of the concept of value investment and the correct application of the evaluation method of investment value can help the small and medium-sized investors to obtain stable returns and avoid unnecessary risks, and also conducive to the stable and healthy development of the securities market. The valuation of stock investment needs the combination of theory and practice. This paper takes JH Automobile Company as an example, adopts the standard fundamental analysis method, synthesizes the management science, the accounting science, the assets appraisal correlation knowledge, from the macroeconomic present situation and the development tendency, the profession life cycle and the product supply and demand pattern, The development strategy and competitive strength of JH Automobile Company are compared and analyzed in detail. SWOT analysis is used to summarize the opportunities, threats, strengths and weaknesses of JH Automobile Company. This paper mainly uses market method and income method to evaluate the stock value of listed JH Automobile Company. According to the FCFE model of income approach, the intrinsic value of JH automobile stock is 9.86 yuan, and the value range of JH automobile is 11.4-16.04 yuan by using market method (P / B, P / E, P / S). Judging from the current (March 31, 2014) share price of JH Motor Company, the price is below the intrinsic value and it is recommended to buy regularly, but investors should choose to pay long-term attention to the stock and related macro and industry trends. In the return of the stock price will be higher than the intrinsic value, take a wait-and-see.
【學(xué)位授予單位】：安徽財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類(lèi)號(hào)】：F426.471;F406.7;F832.51

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本文編號(hào)：1878442