An Empirical Study On The Investment Value Of Listed Companies In Pharmaceutical Manufacturing Industry In China

Pharmaceutical manufacturing industry is an important industry related to the national economy and people's livelihood,closely related to people's healthy life.In recent years,with the improvement of income level,health awareness,urbanization and aging of population,the demand for medicine has been increasing rapidly.The government also pays more and more attention to the development of pharmaceutical manufacturing industry and accelerates the reform of medicine.At present,China's pharmaceutical manufacturing industry is facing unprecedented development opportunities,showing a more rapid development trend.The good prospect of development determines that the listed companies in the pharmaceutical manufacturing industry have a certain investment value,and their listed companies attract the attention of the majority of shareholders.Investment in China's securities market is becoming more and more rational.How can we correctly evaluate the investment value of listed companies in the pharmaceutical manufacturing industry,avoid investment risks,and make reasonable investment decisions? The analysis and solution of these questions will be helpful to provide reasonable investment ideas and directions for the majority of investors.Based on the literature review of the investment value of listed companies at home and abroad,this paper is based on the general situation of the industry development,this paper chooses factor analysis method to study the index data of 115 listed pharmaceutical manufacturing companies in China.The results of factor analysis were verified by constructing logistic regression and index analysis.The empirical results show that:1.It is feasible to use factor analysis method to study the investment value of listed pharmaceutical manufacturing companies in China.The companies worthy of investment are Wowushengwu,Jiuqiangshengwu,Xinlitai and Hengruizhiyao.2.Logistic regression model can divide the investment value of listed companies into two categories based on factor score: low investment value and higher investment value,and discusses the relationship between investment value and every index.The results of model prediction and factor analysis fit well,which proves the validity of factor analysis.3.The performance of different companies in profitability,solvency,operation ability,growth ability and corporate governance ability are different.Different secondary indicators have different effects on the investment value of the company.The investor needs to combine the actual situation,makes the reasonable investment decision.