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上市公司市盈率与收益性及股权结构的实证分析
An Empirical Analysis of P/E Ratio,Rate of Return and Equity Structure in Listed Companies
【摘要】 通过对高低市盈率组合与指数收益率的关系的实证分析 ,从一个角度证明了我国股市不符合半强势有效假设 ;并采用回归分析法对股权结构与市盈率的关系进行了分析 ,证明了市盈率与总资产呈负相关关系。
【Abstract】 Through an empirical analysis of the relation between high-low P/E ratio portfolio and indexed rate of return, this paper verifies, from one angle, that the Chinese stock market does not comply with the semi-strong efficient market hypothesis; it then presents a regression analysis of the relation between equity structure and P/E ratio, proving that P/E ratio is inversely related to total assets.
【关键词】 市盈率;
超额收益率;
股权结构;
【Key words】 price-earnings ratio; excessive rate of return; equity structure;
【Key words】 price-earnings ratio; excessive rate of return; equity structure;
- 【文献出处】 贵州财经学院学报 ,Journal of Guizhou College of Finance and Economics , 编辑部邮箱 ,2002年04期
- 【分类号】F832.5
- 【被引频次】11
- 【下载频次】280