Research On The Valuation Of Listed Company Stocks From The Perspective Of Information

The value of the stock comes from the investor's recognition of certain attributes behind it.The investor's prediction of this attribute determines the price that the investor is willing to pay for the stock of the listed company.The forecast is based on the mastery of information.The data disclosed by listed companies is the main channel for ordinary investors to understand the company,and the accounting information is most concerned by investors.Information view through the establishment of the relationship between the accounting information of listed companies and the stock price of the company's various types of accounting information data on the impact of the stock price,and the establishment of a reasonable valuation equation to estimate whether the stock price in the secondary market to obtain excess profits.Many scholars at home and abroad have made many researches on the relationship between the company's accounting information and stock prices based on the concept of information.The results show that the company's accounting surplus data has the most important impact on the company's stock price,and the company's stock's excess return rate is probably 15% can be explained by the accounting earnings data of the company.Later,the scholar added the company's other types of accounting information on the basis of the accounting earnings data to analyze the stock price of the company.Because the information theory is based on the theory of decision-making usefulness of information and the effectiveness of the stock market,the quality of accounting information is not high and the stock market is not fully effective in practice.Scholars have developed a pricing model view and a measurement concept based on information view.This article elaborates the concept of stock valuation and the stock valuation model that has been formed.Based on the characteristics of China's A-share market itself,it discusses the rationality and importance of valuation of listed company stocks from the perspective of information.The theoretical basis of the information concept was discussed,and the applicability of the theoretical basis of the information theory in the valuation of the A-share market was explored.Then from an empirical perspective,using the listed companies in the A-share market in2014 and 2016 as stock samples,we selected accounting information indicators that represent the company's profitability,profitability,and risk level,and established the company's accounting information data and stock prices through regression.Intrinsically linked,and validating thevalidity of the valuation equation from both long-term and short-term perspectives.The study found that the accounting information directly affecting the company's profitability in China's A-share market still has the most important impact on the company's stock price,and other types of indicators have mixed effects on the stock price.In the validity test of valuation equations,from the short-term point of view,the rising probability of the low-priced group stocks separated by using the information view valuation results and the market price is greater than the stocks in the high-priced group,and the stocks in the low-price group from the long-term perspective.The cumulative rate of return is higher than that of the high-price group,and the difference between the two groups of cumulative rates of return peaks at around thirteen or four weeks,indicating that using a view of information within a medium-term period can yield a better return than the market..Finally,combined with the research conclusions of this paper,it puts forward suggestions on valuation of information concept and stock investment.