CPI Growth Of Listed Companies And China's Tourism Research Relationships

Macro economic fluctuation is influenced by many factors, among which the most closely relationship with people’s life is the price. And most can reflect the index of price is the consumer price index, namely the CPI. Prices as an important macroeconomic indicators, reflect the substantive issues of the whole macro economy operation, and macro economic operation of the intimate contact. Nowadays, people more and more feel the impact of inflation on life, therefore, the price index, its relationship with tourism enterprises has its practical significance. This study typical in a-share listed tourism companies as the research object, based on the growth theory, studies the relationship between prices and growth of the tourism listed companies.The purpose of this selected topic research:(1) to explore the change of the consumer price index and growth of tourism listed companies, whether there is a correlation has a correlation, it is positive or negative, is significant.(2) analyzing the change of the tourism listed companies growth whether impact on macro economic indicators are consumer price index, what effect.(3) the company the whole samples are classified, namely hotel, scenic spot and the integrated tourism listed companies, analyses the consumer price index for different types of tourism listed companies affect the case.(4) based on the relationship between CPI and growth of listed companies in tourism industry, a clear understanding of how to impact on tourism industry to the CPI growth situation of listed companies, investors can through the analysis of the macroeconomic environment, investment objects, and the choice of investment strategy, investment choice for value investors to provide a certain basis.This selected topic research process:(1) from the two levels of price index, tourism at home and abroad, growth of listed companies analysis of the literature to sort out.(2) to descriptive statistics of2002-2010, price index, through to the CPI, growth theory both at home and abroad and our country tourism listed companies related literature, on the basis of the previous scholars research, with the aid of SPSS mathematical statistics tools, used to classify the financial indicators and then apply the appropriate financial indicators build a growth evaluation system of listed companies.(3) in constructing tourism growth evaluation system of listed companies, on the basis of introduction of control variables, the company size, rate, during the management risk of the enterprise, and put forward the hypothesis; Through regression analysis research price index, tourism listed company growth, company size, rate, the operation risk of the enterprise during the period of correlation.(4) to further official CPI and the relationship between the tourism listed company growth, both for the granger causality test.The conclusion of this research:(1) by building evaluation system, this study concludes that tourism growth points of listed companies, as can be seen from the scores, the hotel tourism industry the growth of listed companies, the best scenic spot tourism listed companies growth times, poor comprehensive tourism listed company growth.(2) model is to company growth as the explained variable, the CPI as explained variables, the regression model, according to the results of price index in our country, i.e., the change of CPI and tourism have significant negative correlation between the growth of listed companies.(3) tourism listed companies growth as explained variable, the CPI is as explained variable, and tourism listed companies on the CPI growth for linear regression analysis. The results show that no significant correlation between them.(4) the relation between granger result for the inspection, found that the CPI and tourism listed companies growth there is only one-way causal relationship, the CPI is the granger cause of tourism listed company growth, the tourism listed company growth is not the granger cause of the CPI.The innovation points of this research:(1) The purpose of this study was to research the content selection:macroeconomic indicators to the study of tourism listed companies. Although the scholars at home and abroad research on enterprise growth awareness is higher, but on macro economic indicators CPI and tourism industry within the enterprise growth and the growth evaluation of slightly less than correlation research.(2) in terms of growth system building:enrich the growth evaluation system. This study constructed the tourism industry growth evaluation model of listed companies, and by using the model of tourism industry are evaluated, the growth of listed companies.To some extent, which enrich the enterprise growth evaluation theory.