The Empirical Research On The Impact Of CPI And PPI On The Share Price Of Listed Companies

Non-ferrous metals industry occupies the upstream source position in the national economy industrial chain,and is close to three domestic investments,so non-ferrous metals industry is of strategic significance in the national economy.At the same time,the supply-side reform in recent years also has a positive effect on the listed companies in non-ferrous metals industry,which makes listed companies in non-ferrous metals industry popular with investors.Based on the domestic and foreign research status,this article firstly analyzes the influence mechanism of CPI and PPI on the share price of listed companies in non-ferrous metals industry theoretically.Then this article puts forward the assumption according to the theoretical analysis and verifies the assumption through the empirical research.In the end,this article analyzes and makes a further dissusion of the results of empirical research and puts forward conclusions and some suggestions for improvement in the future.The results of research show that there is a positive correlation between CPI and the share price of listed companies in non-ferrous metals industry when CPI slightly changes.And there is a negative correlation between PPI and the share price of listed companies in non-ferrous metals industry.And there is a positive correlation between power generation,macroeconomic climate index,turnover rate,P/B and the share price of listed companies in non-ferrous metals industry.And there is a negative correlation between the exchange rate of the U.S.dollar against RMB and the share price of listed companies in non-ferrous metals industry.The impact of CPI and PPI on the whole stock market and the impact of CPI and PPI on the share price of listed companies in non-ferrous metals industry are in the same direction,while the degree of the impact of CPI and PPI on the whole stock market is greater than the degree of the impact of CPI and PPI on the share price of listed companies in non-ferrous metals industry.When macroeconomic growth rate is up,there is a negative correlation between CPI,PPI and the share price of listed companies in non-ferrous metals industry.When macroeconomic growth rate is down,there is a positive correlation between CPI,PPI and the share price of listed companies in non-ferrous metals industry.There is a positive correlation between CPI,the share price of listed companies and a negative correlation between PPI,the share price of listed companies in base metals and precious metals plate.And so is the relationship in small metals and metal materials plate.The managers,regulators and market investors of the listed companies in non-ferrous metals industry should consider the impact of CPI and PPI on the share price of listed companies in non-ferrous metals industry in their judgment and decision-making process.