| The stock market in China has greatly developed since it was established in Shanghai, 1992. The policy of extraordinarily cultivating institutional investors was put forward by the department of supervising securities in 2000. In the direction of this strategic policy, the institutional investors developed quickly in scale and quantity, which makes the investor structure improve in a great extent.The institutional investors lead the investing concept of the market. With the grandness of institutional investor contingent, the concept of value investing as a more mature investing concept in the developed country, was introduced into china and canonized by the majority of institutional investors since 2000. But compared with other security market, the value investing concept puts up the different character of the behavior in a short history market of china. The essential factor which determines the institutional investors' value investing behavior rests with the investment value of the securities market. In resent years, there are much more studies on investment value of the securities market and value investing of institutional investors, while short of comprehensive and systematic analysis.In this paper, I make use of the financial index namely B/P, E/P, C/P, D/P and compare the different yield of stocks to study whether it's feasible to use the value-investing concept in China. Then use the Logistic model to test the investment behavior of institutional investors. Value-investing concept is the mainstream in the future, as the main body in China, institutional investors is significant for the development of the stock market. |
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