A Study on the Intrinsic Value of Steel Corporations and the Stock Market Bubble

CHEN Zi-can

Volume 23 Issue 4

Jul. 2021

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Article Navigation > Journal of University of Science and Technology Beijing ( Social Sciences Edition) > 2007 > 23(4): 46-52,57

CHEN Zi-can. A Study on the Intrinsic Value of Steel Corporations and the Stock Market Bubble[J]. Journal of University of Science and Technology Beijing ( Social Sciences Edition), 2007, 23(4): 46-52,57.

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CHEN Zi-can. A Study on the Intrinsic Value of Steel Corporations and the Stock Market Bubble[J]. Journal of University of Science and Technology Beijing ( Social Sciences Edition), 2007, 23(4): 46-52,57.

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A Study on the Intrinsic Value of Steel Corporations and the Stock Market Bubble

CHEN Zi-can

School of Management Fuzhou University 350002, China

Received Date: 2007-08-10
Available Online: 2021-07-03

Abstract

Abstract

Using the Residual Income Model, the paper measures the intrinsic value and the bubbles of the steel corporations, and based on the bubble analysis of American stock market, it introduces the criterion to estimate the character, of the stock mrket bubble. We found that the stocks of the majority of steel corporation were traded at a price between below their intrinsic value and rational stock market bubble in the first half of 2007. Accordingly, we can conclude that the viewpoint that the Chinese stock market is full of bubbles in the first of 2007 is incorrect, at the same time, government cannot judge the stock market bubble only by stock index and P/E Ratio.
- intrinsic value,
- stock market bubble,
- P/E Ratio

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