The Research To The Influential Factors Of The P/e Ratio Of Listed Companies In China's Banking Industry

With the continuous development of China’s capital market, the investors’rational investment manner gradually replace the traditional non-rational investment idea, the concept of analyzing the P/E ratio of listed companies has been more and more attention and recognition. Moreover, banking is the core of the financial sector of China, and its stability and development plays a vital role on the National Economy of China. However, banking listed company’s high profit margin and low P/E ratio has also been concerned by securities analysts and investors. This paper aims to reveal the influence factors of banking listed company’s P/E ratio of China by researching macro and micro aspects, as well as to give investors some reference and help when making investment decisions.This paper consists of six chapters. The first chapter mainly expatiates the background and the significance of the paper, as well as the research object, the aim and the method. The second chapter mainly summarizes the P/E ratio theory and reviews the related foreign and domestic papers. The third chapter introduces eight influence factors of banking listed company’s P/E ratio of China which will be studied in this paper. The fourth chapter introduces the choice of sample, the calculation method of research variables and the analysis method of this paper in details. The fifth chapter applies descriptive statistic analysis on banking listed company’s P/E ratio of China, and then makes empirical research. The sixth chapter comes to the research conclusion, the difficulty and the limitation of this paper.This paper mainly analyses four macroeconomic factors and four management factors of banking listed company’s P/E ratio in the research, which interprets84.01%of the P/E ratio, and the deficiency in this paper is not include non-quantitative factors such as management level, brand effect, diversification level, etc.