制造行業(yè)上市公司會計信息與股價的實證研究.pdf

1、河海大學碩士學位論文制造行業(yè)上市公司會計信息與股價的實證研究姓名：范長江申請學位級別：碩士專業(yè)：會計學指導教師：王飛20080401AbstractThestockmaurketshavedevelopedvi20rouslyfecentVearsandthevalueOfstOckandthenumberofinvestorshasreachedunparaneledlevelTheaffectionofaccountinginfbn

2、nationistoprovidefinancialinfomlationforinvestofsandhelpthemtobuystockrationallyButwhetherinvestorshavetheabilitVtouseaccountinginfo珊atiOnisstillaproblemAtthebackgroundthisdissertationaimstostudythecorrelationbetweenacco

3、untinginfbnnationandstockp“ceFirstthisdissertationexaminestheoriginandevolutiOnandrelevantOfthetheoryofrelevancebe帆eentheaccountinginformationandthepricingoftheslOCkandtheninducethestudVresultofnativeandfbreifmscholafThe

4、thjrdchapterstudiestherelevantbetweenaccountinginfb珊ationandstockpricefomeconomicaspectand酉VessomehypothesisT1lefonhchapter，fi劬ch印tera11dsixthchapteristheempiricalstudVpartTheauthormakesuseoftheaccountin2infbnnatiOndata0

5、fmanufacturelistcompanVfrom2001to2005todotheempiricalresearchnereseafchresultasfollows：thefbnhchapterresearchtherelevancebetweenthestockpIIiceandeamin霉andnetassetsandfindthattheVcanexplanethestockepricebetterVearbVVearTh

6、epricingmultipleofeamingisbiggerthanpricingmultiplesofassetsBesides，theauthorfindsthatthenon—linearcorrelationgivesabetterexplanationtotherelationshipbetweenaccountinginfbnnatiOnandstockpriceandfindsthatthenumberofinstit

7、utioninvestorcanincreasetheeffectofaccountinginfomationThefifthchapteruseseventstudVmethodtostudVthecorrelationbetweenqualitVofeamingsandthestOckpriceTheauthortfiestotestwhetherthestockpriceresponsedifferentlyaccordingto

8、differentqualityeamingsTheresultisthatinvestorscannotdistinguishdifferentqualityeamingsThesixthchapteruseprincipalcOmponentanalysismethodtoanalVze19accountingratiosTheresultisthattheratiosreflectingabilitytoeamprofit，tod

9、evelop，andtogetOperatingcashhaVestrongcollrelati伽withstockpriceButwecanalsofindsOmeinfomationneadVhavenocorrelationwithstockpriceAccordingtotheresultofempiricalstudy，inthelaStpantheauthor西Vessomeadvicetostrengthenef!l’ec

10、tofaccountinginfo姍ationApplyingfairValemeasurement，chan酉ngthestmctureofincomesheet，fosteringthedeVelopmentofinstituteinvestOrsandprofessionalanalVsisinstitutionaretheexercis蜀lblewaVKeywords：accountinginfomatiOn；stOckpric