中国股市市盈率分布特征及国际比较研究

Research on the Distribution Character of P/E Ratio in China's Stock Market and International Comparisons

本文对市盈率的内涵、计算方法、区间确定等理论问题进行了剖解 ,针对中国股市流通股、非流通股并存等特征 ,对市盈率在中国股市的计算方法进行了分析 ;在此基础上对中国股市市盈率分布特征进行实证分析和国际比较研究 ,认为目前沪深股市泡沫成份已较少 ,市盈率在合理区间之内 。

This article analyzes the denotation, computation and interval determination of the P/E ratio, and the computing methods of P/E ratio in China's stock market. With the demonstrative analysis and international comparison of the distribution character of P/E ratio, it reaches the conclusion that while the market is with little bubble and the P/E ratio is in its reasonable interval, China's stock market has acquired its investment values.