The Research Of The Short Chang Of GEM Board’s PE Ratio

This paper introduces the concept of PE ratio from the beginning. Analyzes the content and meaning of earning indicators, combined with China’s A-share market, and raised a number of PE ratio issues in the Chinese A-share market.The research of the change of GEM board’s PE ratio is based on learning from previous studies. Describes and analyzes the2013China A-share market GEM macroeconomic background and special environment.In this paper, the industry is the main research object. Company listed on the GEM line by industry classification, will be seen as a big company to analyze, through statistical analysis method to study the factors affecting the industry rolling short-term PE in the year of2013. This paper selects GEM representative of culture and media, information technology, basic chemical industry as the three samples. Introduction of macroeconomic factors, market factors, factors, and financial factors expects to establish a multiple linear regression model of the sample by stepwise regression methods. The empirical results show that the short-term impact factor of three sectors is different, and each of the models were fitted to justify the changes of PE ratio in three main industry in2013.we get a conclusion that the short change of GEM board’s PE ratio is significantly affected by market factors and anticipation factors on the other hand that is not related with macroeconomic factors and current financial facrors,otherwise we need use different factor to analysis different industry and we think C&M industry will be better on the optimistic market,which provides a quantitative reference value for short-term investments.