The Correlation Research Between Stock Price And Financial Tndicatiors In Our Country

The history of the development of China's capital market is not long. During more than 10 years of rapid development, China's stock market has achieved initial success. As an emerging market, it has its own characteristics, at the same time it also gradually improving. Practice shows that the stock market really played an important role in allocating resources, promoting economic development and other aspects, However, China's stock market is still at the primary stage at the moment, so there are several defects in stock issuance,distribution,operation mechanism and other aspects of the stock market.A prominent feature of healthy development of the stock market is the price fluctuations, but what is it that exactly influent the stock price.There are many factors affact the stock price, and the effects of listed company financial indicators on stock price appears particularly important. Many scholars at home and abroad conducted a lot of empirical researches on the abstruse relationship between the listed company financial datas and the stock market, and the achieved scientific conclusion that has significancant value in Theory and practice. However, the stock market is rapidly changing and fellow-inscrutable. After several years of development, many things have changed.Is there still a close relation between the financial indicators and stock prices in this kind of situation?Which indicators are endowed with uncommon influence in the new era? What is the development trend of the relationship between stock price and the financial indicators in the new era?And these problems need to be studied now. Therefore, it is necessary to analyse the relationship between the financial indicators and stock market, to reveal the effect of financial indicators on the stock price and to predict the development prospects of future stock market.This thesis is just Proceeding from the above questions, choosesing 165 listed companies between 2006 and 2009 in Shanghai stock exchange as the sample and to analysa the relationship between stock prices and the financial data.This thesis is divided into five parts, the first part is the preface, puting forward the research background, pointing out the purpose of the research and the meaning, briefly explaining the thinking and methods, summarizing the main work. The second part is Literature Review, including internal literature review and foreign literature review. The third part is the introduction of raleting theories, including the factors impacting stock price, effective marketing theory and the mechanism of financial indicators acting on the stock market and stock pricing model. The fourth part is an empirical analysis, and this part has more contents, including the defination and calculation of variables, data Selection, correlation analysis of stock price and financial indexes and regression analysis. Data is from 2006 to 2009, the software is SPSS 16.0. The fifth part is the conclusion and suggestion.Conclusion:the listed companys'financial datas have a good ability to explainn stock price changes. The financial indicators are earnings per share, net asset per share, main business profits per share and Tobin's Q. This study illustrates that exsiting strong correlation between listed companies'stock price and company earnings, and stock price reflects the fundamental information of a company.