经营利润率、股东收益与股票价格的价值相关性研究

A Value Relevance Study about Return of Operation,Earning of Shareholder and Stock Price

本文以沪、深两市A股上市公司为研究对象,在F-O模型(剩余收益定价模型)的基础上,进一步探讨了分解后的会计信息:经营利润率和股东收益与股价的价值相关性。研究结果表明,上市公司的经营利润率和股东收益对股价有显著的解释能力。本研究的贡献在于进一步拓展了市场定价模型,为证券投资提供具有实用价值的参考。

We have studied the value relevance about return of operation,earning of shareholder and stock price listed in Shanghai Stock Exchange and in Shenzhen Stock Exchange.The study is based on the F-O model.The results show that there are a positive correlation between the stock price and return of operation.there are a positive correlation between the stock price and earning of shareholder in China's stock market.The contribution of this research lies in developing F-O model,and offering a reference with practical value for investment.