基于财务视角的我国电力上市公司股价波动因素分析

Analysis on Stock Price Volatility Factor of China's Electric Power Listed Company from Financial Perspective

近年来,越来越多的投资者把股票投资作为资产配置的重要组成部分,其中电力上市公司作为传统的二线蓝筹股一直处于价值低估区间,有着非常良好的投资前景和安全边际,探究其股价涨跌原因对于广大投资者的投资决策有着重要的作用。基于财务视角,选取财务指标对电力上市公司股价的影响进行面板数据分析,结果显示,反映盈利能力的基本每股收益、扣除非净利润和每股净资产对电力公司的股价影响显著,相关性强;而属于成长能力,营运能力和偿债能力的指标对股价影响不显著。

In recent years,more and more investors regard the stock market as an important part of the asset allocation.The electric power listed companies as the traditional second-line blue chip have been undervalued,which have a very good investment prospect and safety margin.Exploring the reasons for the rising and falling of stock prices has an important role in investment decisions for the majority of investors.In this paper,we analyze the influence of financial indicators on the stock price of the electric power listed companies.The result of the study shows that basic per-share earnings,net profit deduction,net asset per share belong the profitability index,which significantly affects the stock price;the growth ability,operating capacity,debt paying ability which have no significant relationship with the stock price.From the point of the electric power listed companies,investors,the government,we explore the reasons.Finally,we put forward relevant suggestions.