The Technique Economics Analysis Of The Behavior Of Stock Market And The Price-earning Ratio In China

Stock Market has been developing for hundreds of years abroad, and it has a far-reaching influence on the global economy. At the same time, the study of stock market has been deeply discussed abroad, and they have put forward a series of guidelines to appraise the stock market. However, because the period from its emergence to present in China is only about ten years after PRC was bom, the time we knew stock market is very short, and there are many factors can affect stock market, the stock market has many characteristics in the reform developing stage of china, for example, the stockholder frame, the price-earnings ratio and the exchange ratio of stock. Therefore, considering the development history, the current situation, the theoretical results and the practical experience of the developed countries, this paper defines the economics meanings of the stock investment behavior and the stock speculation behavior. Based on the technique economics analysis of price-earnings ratio of the stock market, referring to the developing current situation and practical experience of our country's stock market over the past years, the paper puts forward the definition of the Synthesis Price-earning Ratio which is more adapted to the common stock market, by which we can measure the contribution to the stock market of the stock speculation and the stock investment of the recent years. The paper has considered the price-earnings ratio and the Rate return regulation during the analysis process. According to the contributions, we can master the characteristics of the stock market in order to reinforce the macros control to the stock market and promote the economic developing fluently of our country.There are five chapters in this paper. The first one is an introduction to the background, the research method and the frame of the thesis. The second one is the behavior of the stock market, which distinguishes the economics meanings between the stock investment and the stock speculation, and analyzes the effect of them to the stock market. The third one is the analysis of the current situation in Chinese stock market, which shows that there are excess stock speculations in Chinese stock marker and analyzes all kinds of causes; In the end, this chapter puts forward some criterion views to the stock market. The fourth one is the research and application of the Price-earnings ratio, which find some mistakes in the calculating method and the limitation in its application of the Price-earning ratio; this chapter brings forward the synthesis Price-earning ratio, by which we can measure the contribution to the stock market of the stock speculation and the stock investment. The fifth one is the prospect of the stock market in China; it analyzes several factors including China's entrance to WTO, which can effect the development of our country's stock market and puts forward some opinions to the development trend of our county's stock market.