The Empirical Study 0n The Influence Factors Of Stock Price Fluctuation Of Listed Companies In China

Since Shanghai Stock Exchang was founded on December 19, 1990, along with the deepening of reform and opening up, the stock market in our country and the world contact more and more close. But compared with the stock market of western developed countries, China's stock market is still showing the limits in many ways. So the study on price variation rule and influence factors is becoming particularly important. There are many factors affecting stock price fluctuations, for example, the government macroeconomic regulation and control measures, such as fiscal policy and monetary policy, and investment of the company's financial information?shareholders and other internal factors. Relative to the shareholder uncontrollable macrofactors, Financial report of listed company financial information to shareholders of investment has more significance. The regular financia report of listed companies are important basis of investors for investment decisions, So the financial indicators of stock price impact and the influence degree of investors has great guiding significance.In order to study the correlation between financial indicators of listed companies in our country and the stock price, The author first introduce the theoretical background and practical background of this study, and put forward the significance of this research. Then elaborated on financial indicators and stock price correlation research literature at home and abroad, and systemly introduce the related concepts in the study of the definition, the internal and external factors affecting the stock price and the research of relevant theoretical basis and model. On the basis,the author select representative sample of the listed company's financial indicators and stock price, in combination with EXCEL and EVIEWS6.0 software, carry on a qualitative and quantitative research on the correlation of financial indicators and stock prices. Finally, according to the result of empirical study, The author found that the financial indicators of listed companies in our country not only has certain correlation with the stock price, and the indicators which reflects the listed companies, profitability and growth ability in China have the larger information value, and in China,we widespread not enough attention to operation ability and cash flow of a company's financial indicators. Based on this, In-depth analysis the reasons behind this phenomenon are as follows: First, the Chinese government interference of administrative power lead to share price from its intrinsic value; Second, the existence of accounting information noise; Third, investors take too much fancy to profitability and growth ability, leading to us ignoring the company's cash flow index and operation capability index. In the end, The author further puts forward the countermeasures to improve the situation, Namely, prevent improper interference of executive power in the government, prevent the distortion of accounting information, continue to strengthen the investment knowledge popularization education to improve the level of investment, etc.