Mining Investment Value Of Listed Companies In Information Technology Industry Based On DEA Model

Information technology industry,the information transmission software and information technology services,mainly engaged in the information transmission in the process of making information and receiving information technology problem or technical requirements to provide services based on the analysis of the data from CSMAR,the information technology industry listed companies,the average annual stock returns is much higher than the market average but industry within the larger income gap exists between the shares of listed companies as a result,it is necessary to invest in information technology industry company’s overall value mining,to the company whether truly has investment value company within the industry.In order to ensure that the choosed companies have real investment value,this paper intends to test the validity of the mining results.,and provide investment Suggestions for investors who plan to invest in the information technology industry companies.Based on the value correlation between the company’s investment value and the company’s financial statements information,this paper uses the method of reconstructing the financial statements information to construct the financial index system,which enables investors to make more effective investment decisions according to the company’s financial statements information.At the same time,based on the advantages of DEA method,this paper attempts to use DEA method to correlate the company’s investment value with the company’s financial statements information,and to study the "efficiency" between the company’s financial statements information "input" and the company’s investment value "output" in order to determine whether the company has investment value.In order to improve the validity of DEA results,this paper uses factor analysis to reduce the index of financial index system,and uses multiple regression analysis to test the validity of DEA results.On this basis,this paper uses statistical analysis method to further explore the characteristics of companies with investment value in information technology industry,and draws the following conclusions:(1)compared with companies without investment value,companies with investment value usually have significant operational and cash capacity advantages;(2)companies with investment value in information technology industry usually have investment value.During the period of capital expansion,companies pay more attention tocapital activities and financial activities;(3)profitability has limited impact on the investment value of Listed Companies in information technology industry,and companies with investment value usually rely on higher cash capacity to restrain possible operational risks.