The Path Of Stock Price To Affect Accounting Information: Theory,Mode And Empirical Study

Accounting information,which is the main source of the stock market information,is the direct factor affecting of stock prices.The accounting information disclosed the corporate earnings and corporate value,while the stock price corresponds to the investor's expectations of enterprise value.Accounting information is used to reveal the financial position and economic results of the companies and enterprises.Its form is refers to the balance sheet,income statement,the cash flow statement,or notes,etc.Accounting information is the important basis to investors and creditors when decided to invest in direction.This thesis,on the basis of studying the relationship between the accounting information and stock price,analyzes the degree of influence that the transmission of PE ratio as the index of accounting information effect on stock price,which provides a new mode for accounting information study,namely the path study,and proves the role of accounting information in Chinese stock market,thereby provide theory basis for investors using the financial data in the investment.This essay will choose accounting data,establish stock value evaluation model of multiple linear regression of stock prices and accounting information transmission,explain the selection of variables,select samples,calculate the model parameter estimation,check the test and finally the empirical results will be analyzed.Due to the background of the efficient market mode,the share price volatility is caused by the information dissemination.The innovation of this article mainly reflects in the mechanism of the accounting information affecting the shares through three transmission mode and the reflection and characteristic of shares to different transmission mode.Second,the quantitative of the path that accounting information affecting the shares,constructing two virtual variables,the accounting information disclosure and official information,studying the path that accounting information affecting the shares.Finally,it is obvious correlation that price and accounting information transmission speed,namely volume,the accounting information dissemination means(disseminated by word of mouth,the traditional media and network)-public attention.