An Empirical Analysis of Steel Industry Index and Financial Targets
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摘要: 文章从钢铁行业上市公司中选取了具有代表性的20家公司,对其财务指标:每股收益、每股净资产、流动比率、每股公积金进行合并计算,得到钢铁行业的相应财务指标,并加入了换手率指标作为因变量,并以每个公司总股本为权重计算出20家公司的加权平均股价以及钢铁行业指数。分析了从2001年到2010年的钢铁行业季度财务指标、行业换手率和钢铁行业指数的关系,通过回归分析计算,给出钢铁行业的行业股票定价模型,提出投资钢铁行业应特别关注行业每股净资产和行业换手率两个指标。Abstract: This paper selected 20 listed companies from steel industry in China, and used each company's financial targets earnings per share, net asset value per share, current ratio and public reserve funds per share to figure out the steel industry financial targets.And taking the total stock issue as weight it figured out the average stock price of the 20 listed companies and the steel industry index.It also analyzed the relations between steel industry financial targets, steel industry turnover ratio and steel industry index of every season from 2001 to 2010.Then using the method of multi-element regression analysis, it figured out the price model of steel industry.This paper finally offered a proposal that investors of steel industry should pay more attention to the financial targets: net asset value per share and turnover ratio.
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Key words:
- steel industry /
- stock index /
- financial targets /
- turnover ratio
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