Research On Investment Value Of Listing Corporation In China’s Securities Industry

With the rapid development of China’s economy and the gradual maturity of the securities market, more and more investors begin to pay attention to the investment value of the listing corporation. It is the common problem faced by the public investors that choosing valuable stock from a large number of listing corporation’s stocks.As an important part of the securities market institutions, securities firms are developing very fast in a variety of favorable policy. By the end of 2014, securities industry has a total of 120 securities companies, Including 19 securities companies in Shanghai and Shenzhen Stock Exchange. With the continuous expansion of the business scope, increasingly rich variety of products, the profitability of securities companies has increased significantly, and the overall strength of the securities industry has improved significantly. The development of the securities industry has provided investors with more investment channels, and the investment value of the listing Corporation in the securities industry is a valuable subject deserving researches.There are five parts in this thesis:The first part is the introduction. Firstly, it introduces the current situation of China’s securities market and analyzes the significance of research on the investment value of listed securities companies. Secondly, based on the domestic and foreign research literature, it puts forward research ideas. Finally, it points out the innovation points and deficiencies of this study.The second part is the introduction of the theory of investment value. Firstly, it introduces the definition of corporate value and investment value, and defines the investment value of listing Corporation in this paper. Then the paper introduces the method of evaluating the investment value of listing Corporation, such as factor analysis, entropy method and EVA method.The third part is the construction of the evaluation system of investment value oflisting Corporation in China’s securities industry. Firstly, it analyzes the internal and external factors that affect the investment value of listing Corporation in China’s securities industry. Then, based on the principle of index selection, the paper builds a comprehensive evaluation system of listing Corporation investment value in China’s securities industry.The fourth part is the empirical analysis. Firstly, this section uses factor analysis method to reduce the dimension of the original variables, uses entropy method to weight common factor, and evaluates the investment value of securities companies according to the comprehensive ranking of the samples. Then, according to the EVA value of each company, evaluate the investment value of the securities company. Finally, it evaluates the value of stock investment of listed securities companies combining the two methods.The fifth part is the conclusion and prospect. This part summarizes the research results of this paper and the deficiency of the paper.