财务视角下我国上市公司股价波动影响因素研究——基于沪深59家采掘业上市公司的面板数据

Research on the Factors Affecting the Stock Price Fluctuation of Listed Companies in China:Based on Panel Data of 59 Listed Companies in the Extractive Industry in Shanghai and Shenzhen

针对我国上市公司股票价格波动影响因素这一研究问题,以采掘业为例,搜集了2015—2017年沪深两市采掘业59家采掘业上市公司的相关数据,进行LLC单位根检验,然后通过F统计量检验和Housman检验确定合理的面板数据回归模型,最后基于检验结果建立了固定效应回归模型,并基于Eviews9.0得到固定效应模型结果,并对采掘业上市公司股价波动的影响因素进行深入分析,分析结果表明,盈利能力和偿债能力相关指标数据是影响采掘业上市公司股票价格波动的最重要因素。

Aiming at the research problem of the factors affecting the stock price fluctuation of listed companies in China,taking the extractive industry as an example,firstly the relevant data of 59 listed companies in the extractive industry of Shanghai and Shenzhen in 2015-2017 was collected to conduct the LLC unit root test,and then a reasonable panel data regression model was determined by F statistic test and Housman test.Finally,a fixed effect regression model was established based on the test results.Based on the results of Eviews9.0,the effects of fixed effect model on the stock price fluctuation of listed companies in extractive industry were deeply studied.Results show the data of related indicators of profitability and solvency are the most important factors affecting the stock price fluctuations of listed companies in the extractive industry.