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中国管理科学 ›› 2002, Vol. ›› Issue (4): 13-17.

• 论文 • 上一篇    下一篇

高科技上市公司盈利能力影响因素的定量分析

黄桐城, 杨健   

  1. 上海交通大学安泰管理学院, 上海, 200052
  • 收稿日期:2001-06-07 出版日期:2002-08-28 发布日期:2012-03-06

Quantity Analysis on the Influence Factors of the Profitability for High Technical Listed Companies

HUANG Tong-cheng, YANG Jian   

  1. Management School, Shanghai Jiaotong University, Shanghai 200052, China
  • Received:2001-06-07 Online:2002-08-28 Published:2012-03-06

摘要: 利用Box-Cox变换和回归分析方法,对高科技上市公司的成长流量,行业增长比率,市场份额变化系数等定量指标与公司未来每股收益的相关性进行了定量化分析,并在此基础上提出了衡量高科技公司盈利能力的评价指标———边际成长流量比。实证研究结果表明:边际成长流量比可以科学地反映高科技上市公司在现行股票市价条件下的投资价值,是一种理想的评价指标。

关键词: 成长流量, 回归分析, Box-Cox变换, 行业增长比率, 边际成长流量比

Abstract: By using the Box-Cox alternate form and the method of regression analysis,this paper engages in the quantitative analysis of the correlation between the future perstock profit and the quantitative indexes,such as the company growth flow,the rate of industrial growth and the variable coefficient of market share of the high technical listed companies.It also proposes an evaluation index number-the rate of marginal growth flow,which can evaluate the profitability of the high technical listed companies.The empirical studies show that given the present market price of the stock,the rate of marginal growth flow reflects the investment worth of the high technical listed companies scientifically,therefore is a very good evaluation index.

Key words: growth flow, regression analysis, Cox-Box alternate form, rate of industrial growth, rate of marginal growth flow

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