Study On Evaluation Of Listed Company Investment Value

China's securities market is a result of an economic system reform. With our country deepening of economic system reform, function of security market deepen toward " resource distribution and optimization grouping " progressively from initial " raise funds ". During the process of realizing this promotion, need to strengthen investors' investment reason, strengthen the analysis on one's own quality of listed company and study. The investment value of listed company is appraised as an indispensable component that course hit of investment securities, occupy quite important position in the course of investing in. This text mainly proceeds from investors' angle, has carried on some basic studying to the investment value appraisal method and theory of listed company. Carry on research to the investment value of listed company, can help shareholders and potential investor to make the correct investment decision; Help to strengthen management inside the listed company; Can offer basis on which the creditor of the listed company makes credit and makes policy; Offer basis on which government's related departments appraise, guide or supervise the listed company; Help to protect the healthy development of security market. The security market of our country has set up the time in the past 20 years, has got considerable development on the stock market. From two initial cities and 12 listed companies, develop to more than 1300 A-share listed companies of today, but because the government expedited child delivery in economy went through transition in the security market of our country, orienting and serving for overcoming difficulties in the state-owned enterprise during quite a long time, this makes function of the market give play to sound incompletely, no matter administration and supervision authorities, local government, or the listed companies, all regard listing as the state-owned enterprise and raise the low cost , channel even without cost fund, regard stock market as state-owned economy " shake off poverty and set out on the road to prosperity " and place of " enclosing money " , make function of the security market appear the alienation to a certain extent, thus it is illegal to cause the prevailing of the behavior to a certain extent and speculate. As China joins WTO, the financial market of China must integrate with the international financial market , this requires capital market system regularization of our country, our country's vast stock investor should abandon the past theory of investment , proceed with basic side of the listed company, find the inherent value of the listed company, find out the listed company worth making the investment . This text is based on domestic and international equity investment theory, analyse the inherent meaning of the investment value of listed company and form, and then has found out the factor influencing investment value of listed company, has set up the index system of appraising the investment value of listed company, use the scientific method to appraise to the investment value of the ports and bio-pharmaceuticals listed company, think the result and objective actual conditions unanimous basically. This text draws two conclusions altogether. First, the stock market of our country belonged to the effective market of " half a strong type ", could analyse and appraise to the investment value of the listed company of our country through the basic side; Second, the security market of our country has not played the function of the national economy barometer. In more than 20 years after reform and opening-up, the national economy of our country kept steady high growth, the stock market is of flowing rhythm, the deep bid tendency is influenced by a great deal of factors. But the one that is worth happpying is, through comparing with the bio-pharmaceuticals 2004 of listed company and 2005 p/e ratio to the ports, can find the p/e ratio of the stock market of our country is becoming more and more rational, the price of the stock of listed company is to its inherent value return . In order to make the security market of our country develop in a healthy way, integrate with the international security market smoothly, this text has proposed...