Sub-industry Shares Of Listed Companies In China, The Investment Value

Reforms thorough and our country along with the stock market joins WTO, is already in vogue in the foreign country the value investment thought also day by day to accept by our country's investor. The value investment core is carries on the reasonable appraisal to be lisle's stock investment value, thus instruction investment behavior. The holoscopic stock investment value appraisal theory and the model research, along with Ohlson in 1990s proposed the residual income model, accountant report form data and the company share investment value will relate, symbolized accountant the income already substituted the dividend, became the decision stock investment value the core content. 1995 and in 1996, Feltham and Ohlson in residual income model foundation, also proposed serviceable broader Feltham-Ohlson stock investment value appraisal theory and the model, enriched and have developed under the traditional measurement view stock investment value appraisal theory and the model, became the modern measurement view the mainstream stock investment value appraisal theory, further has established accountant the income in the stock investment value appraisal core status.Presently, our country's stockholder's rights minute sets the reform already was carries on when, the multitudinous stocks all face the stock investment value evaluation the opportunity, in this case comes on the urgent need one quite accurate estimate value method to the Chinese Stock market's investment value to carry on the appraisal, thus helps the investor decision-making. Based on the above background, this article through to the Feltham-Ohlson model transformation, and draws support from China to be listed accountant the report form data, has carried on the appraisal to our country minute profession to be listed stock investment value. This article main research content is as follows:First, to the main stock investment value appraised the theory and the model carry on the elaboration, thus analyzes all stock investment value appraisal theory the characteristic and the flaw.Second, in to the Feltham-Ohlson stock investment value theory and in the model thorough research foundation, the union actual situation, makes certain improvement to the model, thus obtains one more reasonable and is advantageous for the solution model.Third, has the choice to be listed, and to them 1997-2005 accountant the income, the net assets and other accounting data conducted the descriptive statistical survey, has promulgated to be liter's accountants the income, and accountant the income correlation accounting information as well as the net assets characteristic and the change tendency.Four, In order to a more reasonable analysis obtains the data overall, this article the profession which determined according to Securities Supervisory Association carries on to be listed the classified statistics.