發(fā)布時(shí)間：2018-05-20 23:41

  本文選題：證券市場(chǎng) + 乳品行業(yè)��； 參考：《武漢工程大學(xué)》2016年碩士論文

【摘要】：隨著我國(guó)金融體系的漸漸成熟,在金融全球化的大前提下,證券市場(chǎng)在我國(guó)發(fā)生了明顯的變化,一些合格的機(jī)構(gòu)投資者成為股票市場(chǎng)的主要力量,如海外投資者、社�；鸬�,這些機(jī)構(gòu)的入市轉(zhuǎn)變了投資的價(jià)值觀和理念,特別是2015年6月滬深兩市A股出現(xiàn)的系統(tǒng)風(fēng)險(xiǎn)(去杠桿化)充分暴露了投機(jī)性的投資方式的問(wèn)題后,投資者的投資觀念轉(zhuǎn)向了以基本面分析為主的價(jià)值投資方式,從而逐漸拋棄了原先的投機(jī)觀念和投資方式。中國(guó)乳制品行業(yè)目前已經(jīng)形成了相對(duì)有序的競(jìng)爭(zhēng)格局,市場(chǎng)集中度不斷提升,品牌發(fā)展也相對(duì)穩(wěn)定,中國(guó)乳制品行業(yè)將呈現(xiàn)長(zhǎng)期穩(wěn)步增長(zhǎng)趨勢(shì)。作為國(guó)內(nèi)乳業(yè)三巨頭之一的光明乳業(yè)擁有100多年的歷史,是國(guó)內(nèi)乳品行業(yè)的引領(lǐng)者之一,公司擁有世界一流的乳品研究院、乳品加工設(shè)備以及先進(jìn)的乳品加工工藝,其產(chǎn)品也具有較高的市場(chǎng)占有率。其股票對(duì)投資者具有一定的吸引力。目前針對(duì)中國(guó)乳品行業(yè)的現(xiàn)狀及對(duì)策分析較多,但缺乏個(gè)案研究。本文以光明乳業(yè)為研究對(duì)象,以財(cái)務(wù)管理理論為基礎(chǔ),首先對(duì)光明乳業(yè)股票的基本面進(jìn)行探討,其次,運(yùn)用比較分析法重點(diǎn)分析了公司的財(cái)務(wù)狀況,并以此為基礎(chǔ)運(yùn)用市盈率法、市凈率法和股利折現(xiàn)模型法,對(duì)光明乳業(yè)股票的特點(diǎn)與投資價(jià)值區(qū)間作出比較客觀、合理的評(píng)估。為廣大投資者,特別是中小股民提供一個(gè)有效分析上市公司股票投資價(jià)值的參考模式。本文的創(chuàng)新點(diǎn)在于運(yùn)用定性分析與定量分析相結(jié)合的方法,借助股票投資價(jià)值分析的相關(guān)理論與模型,對(duì)光明乳業(yè)股票的進(jìn)行其投資價(jià)值分析,并對(duì)股票投資風(fēng)險(xiǎn)進(jìn)行了系統(tǒng)的研究,以供投資者進(jìn)行決策。
[Abstract]:With the gradual maturity of our financial system, under the premise of financial globalization, the securities market has undergone obvious changes in our country. Some qualified institutional investors have become the main force in the stock market, such as overseas investors, social security funds, and so on. The entry of these institutions into the market has transformed the values and ideas of investment, especially after the systemic risk (deleveraging) of the Shanghai and Shenzhen A-shares in June 2015 fully exposed the problem of speculative investment methods. The investor's investment concept has changed to the value investment mode which is based on the fundamental analysis, and gradually abandoned the original speculation idea and investment mode. China's dairy industry has formed a relatively orderly competition pattern, the market concentration is constantly improving, brand development is relatively stable, China's dairy industry will show a long-term steady growth trend. As one of the three giants of domestic dairy industry, Guangming Dairy has a history of more than 100 years and is one of the leaders in domestic dairy industry. The company has world class dairy research institutes, dairy processing equipment and advanced dairy processing technology. Its products also have a high market share. Its stock has certain attraction to the investor. At present, there are many analysis on the status quo and countermeasures of Chinese dairy industry, but lack of case study. This paper takes Guangming Dairy as the research object, based on the theory of financial management, firstly discusses the fundamentals of Guangming Dairy stock, and secondly, analyzes the financial situation of the company by means of comparative analysis. On this basis, the paper makes a more objective and reasonable evaluation of the characteristics and investment value interval of Guangming Dairy stock by using the price-to-earnings ratio method, the price-to-book ratio method and the dividend discount model method. To provide a reference model for investors, especially small and medium shareholders, to analyze the stock investment value of listed companies. The innovation of this paper is to use the method of combining qualitative analysis and quantitative analysis, with the help of the relevant theory and model of stock investment value analysis, to analyze the investment value of Guangming dairy stock. And the stock investment risk is systematically studied for investors to make decisions.
【學(xué)位授予單位】：武漢工程大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2016
【分類(lèi)號(hào)】：F426.82;F832.51

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本文編號(hào)：1916783