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澳洲信息科技代写论文:收益之间的关系

本文的目的是检查是否收益之间的关系,公司的账面价值和股票价值仍然在不同的经济环境。发现的是,联想在中国市场的程度的关系是不同的。总的来说,在中国,利润确实信息内容和相关预测控制后公司的股权价值的账面价值。收益的重要性,然而,似乎没有那么高的预测股票的价值。账面价值有更强的关系在这种环境下股权价值。在中国不成熟的市场也很难确定市场价值通过预测未来预期收益可能解释这种差异。不稳定和不成熟的经济环境中,账面价值的收益是非常不确定,投资者可能关注其他因素,而不是收益。与此同时,中国投资者可能已经发现了这一标准和应用。

澳洲信息科技代写论文:收益之间的关系

The purpose of this dissertation is to examine whether the relationship between earnings, book value and equity value of a firm still holds in this different economic environment. What is found is that the associations do hold in Chinese market but the degree of the relationship is different. Overall, in China, earnings indeed have information content and are relevant to forecast equity value of a firm after the control of book value.The importance of earnings, however, seems to be not that high as a predictor of equity value. Book value has a stronger relation to equity value in this environment. The fact that in the immature market of China it is too difficult to determine market value by forecasting future expected earnings may explain this difference. In a unstable and immature economic environment in which book value of earnings is quite uncertain, investors may be paying attention to other factors rather than earnings. At the same time, Chinese investors may have found this criterion and applied it well.