Value-Investing-Research Of Investment On Disruptive Innovative Companies

As what Peter Lynch said, the capital created the American's innovation; and this innovationability is what made the US keeps its development and productive force on the top of world, aswell as the primary engine of the world economy which struggling in the mire.On the qualitative side, on the base of research from "Disruptive" conception of Schumpeter toempirical study on disruptive innovative companies of Christensen from Harvard University, thethesis studied the unique characters of such companies on corporation and development levelwhile identifying the differences between "disruptive","sustainable" and "destructive"innovations. Furthermore, the thesis discussed the possible factors which could lead to successesor failures of such companies from investors' perspective, and the methodology of qualitativeanalysis of screening disruptive innovative companies from four sides of inner,outer,market andtechnology.On the quantitative side, the thesis started from the methodology of growth value investment,mainly emphasized on single factors effectiveness analysis, and found the ratio of research anddevelopment expenditure to sales is an effective factor.The innovation of this thesis is that this exploration on "disruptive innovative" growth valueinvestment strategy, is the first combination of research of "disruptive innovation" and themethodology of growth value investment in this field.