Our Country Gem Companies Accounting Surplus And The Correlative Analysis Of The Share Price

October30,2009, the state council and the China securities regulatory commission for approval to agree, the first28enterprises in shenzhen stock exchange listing collective, which marks the official opening of the gem market in our country. The establishment of the gem, not only develop the taking high-new technology as the core competitiveness of the innovative enterprise financing channels, and multi-level capital market for our country to open a new page. Growth enterprise market, the smaller the listed company, the development is not stable, investment risk big characteristics and its formation and the mainboard market of different investment ideas. As a gem of investors, how to use the financial statements of the listed company to accurate judgment company investment value could be important. But accounting surplus as reflecting enterprise operating conditions of important financial indicators, has generally become investors for investment decision foundation. Therefore, the gem companies accounting surplus and stock price of correlation, have very important sense.This paper briefly expounds the relevant accounting surplus and stock prices theoretical basis, and in-depth analysis of the gem listing company accounting surplus of the main content and disclosure of information, and in combination with the characteristics of their gem companies and the nature of the accountancy surplus characteristics, from theory to analyze the gem companies accounting surplus to share price information the possibility of influence. Based on this, advances research hypothesis and the theoretical model, this paper selects the2010conforms to the related condition gem companies totaling84home as the samples and using method of matters, the gem companies accounting surplus and stock price of empirical analysis of correlation. Among them with basic each income index and deduct the profits and losses of the regular after each income index as independent variables, will the listed company growth index as a control variables, use the price-accounting surplus level index regression model, financial statement analysis accounting surplus and stock price relationship, and the comparison analysis of two surplus index decision usefulness, of the investment decisions for help, and for government departments and improve the establishment of related policies to provide the reference.This paper the results of the study show that, China’s growth enterprise market accounting surplus and stock price significantly related, but not after deducting the profits and losses of the regular earnings per share and share price index the correlation of weak in basic each income index, this may be due to deduct the profits and losses of the regular after each income index information is not significant, and investors in the actual operation analysis, there are irrational speculative phenomenon; In addition, it is possible and research methods and the small sample sizes, the other factors, such as the short time. According to the problems, the author puts forward some policy Suggestions. On the one hand through the perfect relevant system to improve the quality of accounting information surplus, and from the gem companies accounting information disclosure of surplus formulated and normative Angle put forward:gem companies shall establish perfect information disclosure system; And periodically provide enterprise growth analysis report; Will be effective accounting surplus forecast as a public disclosure of the important conditions Suggestions; On the other hand for investors to enhance the rational investment related Suggestions:insisted that the long-term investment ideas; Choose portfolio investment strategy; Determine the investment proportion.