行业选择对企业市场价值的影响  

The Influence of Industry Selection on the Enterprise Market Value

作　　者：程杞国[1] 

机构地区：[1]国家行政学院理论部,副教授法学博士北京100089

出　　处：《北京行政学院学报》2000年第1期33-37,共5页Journal of Beijing administration institute

摘　　要：本文用实证研究的方法 ,分析在中国的市场环境中 ,行业选择对企业市场价值的影响。文章对行业风险作回归分析 ,对市场分化作具体的概括 ,对股市各行业价格指数与整体市场价格指数的有序关系进行分别研究 ,最后分析各行业与市场平均水平差异形成的原因。研究结果表明 ,行业选择在我国对企业的市场价值有着很强的决定作用 ,不同的行业归属在很大程度上决定了投资者对企业价值的认同 。This paper ,with the positive research method ,analyzed the influence of industry selection on the market value of enterprise in Chinese market environment .The paper analyzes to trade risks with the regression analysis method, sums up the market division, investigates respectively the ordinal price indexes each trade and the entire stock market. Finally it analyzes the cause of differences between each trade and average level in the market. The research indicates that industry selection has a decisive influence on the market value of enterprise in China. Different trade selection determines, to a great extent, the investors' recognition of the enterprise value, and thus determines the realization of the enterprise value in the market.

关 键 词：市场价值 行业选择 企业盈利能力 行政风险 

分 类 号：F279.2[经济管理—企业管理]