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中国股票市场定期定额投资策略实证分析

Empirical Analysis of the Investment Strategy of Dollar-cost Averaging in China Stock Market

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【作者】 潘丽华; 李建新; 沈光明; 杨少军;

【Author】 Pan Li-hua,Li Jian-xin,Shen Guang-ming,Yang Shao-jun(School of Applied Mathematics,Guangdong University of Technology,Guangzhou 510520,China)

【机构】 广东工业大学应用数学学院;

【摘要】 从定期定额投资的定义出发,对定期定额投资策略进行了数理分析,得到其收益率公式,总结了影响定期定额投资策略收益率的因素.通过对案例的实证分析,归纳出定期定额投资方式下确保获利的投资策略:寻找成长性良好的公司、按内在价值选择低成本股票、在跟踪公司成长性动态的基础上坚持长期投资.一般情况下定期定额投资方式不一定能确保获利,本文为采用定投方式进行股票投资的投资者提供了确保获利的理论依据和投资策略.

【Abstract】 Based on the definition of dollar-cost averaging,the investment strategy was analysed quantitatively.The expression about the rate of stock return was achieved,and the main influence factors of stock yield were summarized through mathematical analysis.The investment strategy ensuring profit in the way of the dollar-cost averaging was concluded: finding the company with well growth,choosing the security with lower costs according to the intrinsic value,and persevering in long-term investment by following the trends of the company growth.An empirical analysis has been conducted to verify the credibility of these principles.Generally,dollar-cost averaging can not always assure the profit,but it provides the stock investor with an investment strategy to guarantee profit.

【基金】 广东省科技计划项目(2009B60974143)
  • 【文献出处】 广东工业大学学报 ,Journal of Guangdong University of Technology , 编辑部邮箱 ,2012年04期
  • 【分类号】F832.51;F224
  • 【被引频次】6
  • 【下载频次】297
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