Correlation Research Between Stock Investors And Company’s Intrinsic Value Based On Behavior Economic

The traditional economic theory usually divides the securities market of our country into a semi strong efficient market, that is, the value of the public accounting information can be fully reflected in the company’s stock price, while investors can according to these effective information to make investment, therefore, they have been assumed to have infinite "rational" kind of person. However, frequently appear on the market investors chase after go up, buy the rubbish, such as irrational investment behavior, an exodus of this phenomenon reveals the limitations of traditional economics. The cause of its limitations is that traditional economics people not to give the irrational factors such as psychological factors, policy factors into account. According to all these factors and the behavioral economics is just are analyzed and summarized, put forward the weak type of effective market point of view, so as to make up the blank in the research of traditional economics.Based on the Shanghai stock exchange and Shenzhen stock exchange listed companies during 2010-2014, five years of a-shares data as sample, set up the share price as the dependent variable and four financial indicators such as earnings per share on the empirical analysis for the model of the independent variable, evidence of the investors choose the relationship with the company’s intrinsic value, from the side confirms the market is limited rationality of this idea, And in the next study factors affecting the irrationality of investors to pick stocks (this article refers to the investor sentiment factors, information, ideas, policies) are analyzed, finally, this paper recommends that investors in the investment activities in the future, should continue to be based on the company’s fundamental information, look for blue chips with performance support, in order to reduce the risk of the investment; Meanwhile, comprehensive grasp of enterprise information, and focus on the national industry of good policies, to predict the overall economic trends. So can not only make investors more targeted and accuracy, and can also build a rational investment for the securities market atmosphere, so as to realize the goal of "win-win".