摘要
根据价值投资的观点,股票的投资价值是一种相对价值,是根据其内在价值和股票价格的对比决定的。本文首先建立了上市公司内在价值综合评估财务指标体系,然后结合层次分析法和因子分析法得到上市公司内在价值评估模型,通过模型计算得到上市公司的相对内在价值,最后对相对内在价值和股价的动态变化趋势进行分析,构造了上市公司投资价值分析模型。实证研究表明,本文提出的上市公司投资价值分析模型具有一定的准确性,能够为投资者在选择股票时提供一定的指导作用。
According to the views of value investing,the investment value of stock is relative and determined by the comparison of its intrinsic value and price. First,this paper sets up a financial index system of evaluating the intrinsic value of listed companies,then gets a evaluation model of the intrinsic value of listed companies by AHP and factor analysis and calculates the relative intrinsic value of listed companies by the model. At last,this paper sets up a analysis model of the investment value of listed companies by the dynamic trend analysis of the intrinsic value and stock price. Empirical studies show that the analysis model of the investment value of listed companies has certain accuracy and it can provide some guidance for the investors.
