A Research On Relationships Between Accounting Information And Stock Price In SME Board

Foreign and domestic large number of studies show that the accounting information disclosed by public companies has become an important basis of stock price analysis. Correlation study between Public Company Accounting information and stock price, Firstly can provide inspiration for decision-making of investors, also can verify the efficiency of the stock market. Correlation study of the value of accounting information on the SME board listed companies, the same can be good for decision-making of SME(small and medium enterprises) investors, and can verify the efficiency of the SME Market.The dissertation first introduces the theoretical basis of Correlation study of the value of accounting information, analyze different models, then introduces the O-F modified model and its expanding model to study the Correlation between Public Company Accounting information and stock price of China’s SME board listed companies. The main conclusions are as follows:1.In2008, earnings per share, net assets per share and stock price showed a significant positive correlation.2009and2010, earnings per share, net assets per share and stock prices are not significantly related to, but the explanatory power of the both two is also very small.2. the correlation between accounting information and stock price of Manufacturing is higher than other industries.3. Obtained by the expanding model, the net profit growth rate, asset-liability ratio and stock price have some relevance, but is not very significant.In general, the above conclusions show that China’s SME board companies’ correlation between accounting information and stock price is not obvious, a macroeconomic viewpoint, China’s SME board market is not effective.