摘要
本文以1999年中国大陆上市公司年度报告中披露的基金持股信息为基础，研究了1999年年末基金的持股特征。研究结果表明，基金持股多少与股票的每股收益、每股收益增长、每股净资产、流通股比例、净资产与股价比、规模、股价、股票年收益、股票的IB值、股票的流动性等都呈现出显著的相关性，表明这些特征可能会对基金的投资决策产生影响，基金的投资行为会对其中一些特征产生影响。
This article discusses the stock characteristics of securities investment funds in China's Mainland up to the end of 1999. The research is based on the disclosed information of their stock portfolios in the 1999 annual reports of the listed companies in China's Mainland. The study reveals that the number of shares held by the funds is closely correlated with the stocks＇ earnings per share （EPS）, EPS growth, net asset per share, percentage of negotiable shares, net asset/share price ratio, share price, stock return, fl value and stock liquidity. These factors may have impact on the investment decision of the funds and some factors may also be influenced by the investment behaviour of the funds.
出处
《中国会计与财务研究》
2001年第2期139-177,共39页
China Accounting and Finance Review
关键词
基金
股票
持股特征
投资决策
fund, stock, stock characteristics, investment decision
