The Research On The Correlation Of Financial Index And Stock Price

With tock prices vary from minute to minute, the formation of stock prices is the result of many factors, and in the numerous of factors, influencing announced financial report contains accounting information for the investor’s decision is especially remarkable. Focus attention to investors is contained in financial reports of listing Corporation accounting information, its message is engaged in the basic information needed to invest, and financial indicators are concentrated most of accounting information in the financial statement, because of this people more attention to the financial relationship between standard and stock price has more,on between accounting information and stock price is not relevant and related degree to carry on quantitative analysis and verification helps investors to improve investment decision-making. Accounting information, the securities market as the main source of information, is formed on the stock price, invest or splay an important role in investment decision.This paper from the effective market theory and function lock theory studying the relation between the performance and the stock prices of listing Corporation in china. First established by the residual income model, financial data from2009-2013years in Shanghai and Shenzhen50index stock listing Corporation a study sample, according to the company’s operations, respectively from the three aspects of company profit ability, growth ability and cash flow were selected from two to three representative financial index as the dependent variable data the empirical part, Shanghai and Shenzhen50index from2009-2013annual report disclosure after fifth days of the closing price as the dependent variable, and the correlation of each index and the stock of financial indicators selected in price.The empirical analysis of this paper are as follows:firstly, validity analysis according to the growing profitability index, capacity index, cash flow index, factor analysis is carried out based on the above analysis, according to the factor analysis results is validity; again, on the financial index of listing Corporation stock price points and summary of correlation test; finally, based on the results of the correlation test, through regression analysis, a regression equation. Through the factor of2009to2013of listing Corporation performance and stock price analysis, correlation analysis and regression analysis found that, China’s listing Corporation financial index and stock price has value relevance, but the correlation between financial index and stock price is relatively low, the earnings per share and operating cash flow has significant impact on stock prices, not effect on other indexes.Finally, based on the empirical results are analyzed, and from the financial information disclosure system, improve the quality of investors and the government three aspects of localization are proposed.