Dissertation > Excellent graduate degree dissertation topics show

The Influence of Industry Factors on Chinese Stock Yield Analysis

Author: XuMiao
Tutor: YangXiuChang
School: Shanxi University of Finance
Course: Finance
Keywords: industry factors stock returns industry cycles industry concentration
CLC:
Type: Master's thesis
Year: 2014
Downloads: 1
Quote: 0
Read: Download Dissertation

Abstract


From the perspective of investors in securities, the right choice for the industry has anegligible impact on the stock market yields. For a value investor, the developmentprospects of an industry is an important basis for stock selection, by analyzing thedevelopment of the industry cycle, the industry sentiment index, industry concentration,investors can grasp market structure changes, improve investment returns. This theory ison the basis of previous studies, where the actual and the actual situation of China’s stockmarket, using theoretical analysis, comparative analysis and empirical research on theimpact on stock returns of industry factors are analyzed.First,it is based on an annualized yield of the stock market industry sectors and theaverage yield, using descriptive statistical analysis and comparative analysis, comparingthe vertical and horizontal, analyzed and summarized China’s stock market yields ofindustry distribution. Finally found a better performance in all sectors of the economiccycle has. At the stage of recession, industries of good performance are: extractiveindustries (energy), information technology, utilities, etc.; industries of goodperformance at the stage of economic recovery are: agriculture, forestry, animalhusbandry, fisheries, finance, real estate, manufacturing, mining, etc.; at the stage ofeconomic prosperity: manufacturing, mining, real estate, wholesale and retail trade,social services, etc.; at the stage of economic depression: agriculture, forestry, animalhusbandry, fisheries, communications, medical and health industry.Then, the paper is based on the data of industry in China from2004to2011,according to criteria for the classification of the Commission on the industry, by buildingindustry concentration, industry size and economic models between stock returns,empirical test of China’s stock market does exist industry effects. Studies have shownthat the size of the industry’s impact on stock returns is minimal, but there is a negativerelationship between industry concentration and stock returns, lower industryconcentration, the greater the competitive industry, so the industry will be throughinnovation to continuously improve their yields. For investors, in addition to the choice of stocks outside, the industry’s choice is also crucial.

Related Dissertations

  1. An Empirical Research on the Relationship between the Capital Structure and Firm Value of Northeast China Listed Companies,F275.5
  2. Factors influencing the development of organic tea and Countermeasures,F326.12
  3. Market Structure, Horizontal Merger and Corporate Performance,F272;F224
  4. Effect of heterogeneous beliefs on stock returns,F224
  5. The Study on the International Competitiveness of Chinese Flat Glass Industry,F426.71
  6. The Skewness of Stock Return in China,F832.51
  7. Development of the tertiary industry in Jiangxi Province,F719
  8. Research on Shijiazhuang Equipment Manufacturing Industry Development Based on "5+3" Enterprises,F426.4
  9. The financial sector Macroeconomic Impact of Stock Returns,F832.51;F123
  10. The Relationship between Corporate Reputation and Stock Values in Crisis,F832.51;F224
  11. An Empirical Research on the Relationship between Heterogeneous Beliefs and Stock Returns in the US Market,F831.51
  12. The Relationship between Liquidity, Variability of Liquidity and Stock Returns in China,F832.51
  13. Study on Local Brands Environment and Brands Group Construction,F273.2
  14. An Empirical Study on the Effect of Asset Reorganization on Listed Companies Performance in China,F276.6
  15. Study on the Influence Exerted by High-speed Railway on the Allocation of Tourism Industry Factors:,F592.7
  16. Research on the Relationship between Risks and Returns of the Stock Market,F224
  17. Inflation, economic growth and stock returns - An Empirical Research Based on the Shanghai and Shenzhen 300 index,F224
  18. The Temporal and Spatial Evolution Characteristics and Influential Factors of the Manufacturing in China,F424
  19. The Research Concentration on the Performance of Technology Innovation,F273.1
  20. The Effects of Different Investor Sentiment on Stock Price Behaviors,F832.5
  21. The Research on Carbon Emission Factor Decomposition and Emission Reduction Strategies of Energy Industry in Shaanxi Province,F205

CLC: >
© 2012 www.DissertationTopic.Net  Mobile