股票价格的影响因素实证研究——以云南驰宏锌锗上市公司为例

Empirical Study of Factors Influencing the Price of the Share Price: A Case Study of Chihong Zinc and Germanium Company

通过收集2005年-2013年驰宏锌锗各年的上市财务数据,应用因子分析和回归分析的方法分析其股票价格的影响因素.研究结果表明上市公司的股票价格不仅与企业的外部原因有关系,而且还与企业内部原因有关系,与企业的盈利能力、成长能力、现金流量比率呈正比,却与企业的规模、企业的经营风险呈反比.因此,提高上市公司股票价格,除了要利用外部宏观经济环境外,尤其要提高自身的内部条件,要注重盈利能力、成长能力的提高,优化现金的使用效率,降低企业的经营风险,同时要控制企业的规模与企业的发展相适应的.

The financial date from 2005 to 2013 of the quoted company, Chihong pany, were collected to analyze through factor analysis and regression analysis. Zinc and Germanium Com- The results showed that the share price of a quoted company was related both to the factors outside of the company and to the factors in- side the company. The price is proportionate to the capacity for profit, development and currency volume while it is inversely proportional to the size of the company and the management risk of the company. There- fore, increasing the share price of the company can be realized by the outside factors and the inside factors, especially the capacity for profit and development of the company, optimizing the currency and lowering the management risk, and controlling that size of the company as well.