Study On Correlation Between Invest Value And Stock's Market Expression Of China Manufacturing Industry Listed Companies

It has been twenty years since the establishment of our securities market in 1990. As a connecting hub for companies and investors, the securities market has made an important contribution to the promotion of development and maturity of the market economy. However, as a rapid developed emerging market, the securities market is inadequate, irregular, immature, The expression of stock has separated from the basic leval of the companies'operation. Most investors in capital market gained capital profits relying on the price disparity from the price fluctuations. This problem is seriously and urgently, proofing the intuitive judgment through figures and describing the correlation between the running of securities market is what must been done, and then, to find the solution from the conclusion.Based on the theory of the law of value and the validity of the stock market, this article takes 334 listed companies in manufacturing industry as the research objects, proofs the relationship between the invest value of listed companies in manufacturing and expression on stock market, reflects the deficiency of the securities market.It's composed of four parts. The first part describes the concept, the research way and related literature. The second part analyzes the invest values of manufacturing listed companies by way of Factor Analysis. The third part is the critical part,firstly, it delimits related index to the market expression, secondly, it analyzes the relationship between the invest value and expression on stock market though Person Correlation coefficient, and then to track how the invest value impact on the expression in stock market through regression analysis. Part four concludes the article, proposes the research suggestion and prospects its future.This article is not only analyzes invest value of the sample listed companies during the recent 10 years, but also concludes the changes trends and characteristics of the sub-sectors. It proofs that there is little relationship between listed companies invest value in manufacturing and the expression in stock market, which is verified by regression analysis on their historic data. It also reflected that there are so many speculations in the securities market.