Empirical Research Of The Influencing Factors Of China’s Agriculture, Frestry, Animal Husbandry And Fishery Listed Company P/e Ratio

The industry of agriculture, frestry, animal husbandry and fishery is one with the special position in the national economy, which is cricial to the national interest and people’s lifehood. The listed companies such as agriculture, frestry, animal husbandry and fishery equally have a unique position in the stock market, so proper assessment of the p/e ratio of agriculture, frestry, animal husbandry and fishery companies is very important to their development.This paper empirically researched the influencing factors of agrculture, frestry, animal husbandry and fishery listed companies. First of all, it deduced the partial influencing factors of p/e ratio from pricing models of stock, then sorted the influential factors on p/e ratio in accordence with domestic and international documents and theories, and eventually reached the macroscopic and microsmic indicators relying on the procurability and ralativity of datas. The paper adopted2000-2010vertical time sequence datas, respectively selected the maccroscopic indecators like GDP, interest rates, exchange rates, inflation rate, and expenditures of huinong from local and state government finance as argument, and industry p/e ratio as dependent. According to the responding hypothesis, the paper made an empirical analysis of the factors affecting industry p/e ratio and discussed them. Besides, it used the broadwise setion finantial datas from44listed companies of agriculture, frestry, animal husbandry and fishery in2006-2010annual, and selected EPS, net profit, net assetts of each share, flow rates, net assett rate of return and payment rates as an argument and company p/e ratio as a variable. In the same way the paper made empirical study of the effect on company p/e ratio, and conneted the influencing factors of industry p/e ratio, thus comprehensively drawing a series of empirical conclusions.