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The Correlation Analysis Between The Price Of Listed Companies' Stock And Financial Data

Posted on:2009-07-29Degree:MasterType:Thesis
Country:ChinaCandidate:Z J LiuFull Text:PDF
GTID:2189360272973224Subject:Business management
Abstract/Summary:PDF Full Text Request
With the development of the stock markets, financial data, which reflects the operation and profitability of listed companies, are gradually becoming a significant basis for analyzing the stock's value. The thesis analyses the current situation of stock market in our country through the investigation of correlation between the financial data and stock prices of the listed company.The thesis first introduces the current situation of stock markets and formation mechanism of stock prices of listed companies. It discusses the basic, policy and technological factors that influence the stock prices separately, also it analyze the factors that affect the stock price. After introducing volatility model of stock prices based on Capital Ass et Pricing Model, Autoregressive conditional heteroskedasticity model, Generalized Autoregressive conditional heteroskedasticity model and General Linear Regression Mode, the thesis chooses the relevant data from 2004, 2006, 2007 in these two industries. The thesis analyzes the correlation degree between the stock market and financial data of listed companies by multivariate regression models.Finally it draws the conclusion that financial data is strong in explaining the changes of stock price. Earnings per share show the significant correlation with the stock prices of listed companies, which shows that stock price has a strong correlation with corporate profit. The stock price normally is a kind of mirror of company's fundamental information. The correlation between the stock prices of listed companies and net asset per share reflects different industrial characteristics. But outstanding capital stock and share of tradable shares has no significant correlation with the stock price of listed companies. That is to say that the stock market speculate less and less to small-cap stocks, which shows that the stock market is becoming more and more mature in China.
Keywords/Search Tags:Listed companies, Stock price, Financial data, Correlation analysis
PDF Full Text Request
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