Analysis Of Influencing Factors Of Stock Price In The Electronics Industry

With the further development of the digital economy and the advancement of the local replacement of core information technologies such as integrated circuits,the electronic information industry will play a more important role in the national economy,and it will be increasingly valued by investors.Analysis on the the influencing factors of electronic information industry stock prices are of great significance for listed companies and stock investors.This article conducts an empirical analysis of the influencing factors.By reading relevant historical documents,collating and analyzing the research results of domestic and foreign scholars,author qualitatively analyzing the influencing factors of stock prices from the macro and micro points.After screening of listed companies in the electronics industry,author selects 93 A-share listed companies as research samples in cross-section,and uses the 2014Q1 to 2019Q2 as the sample interval.Meanwhile,a total of ten indicators were selected from the macro and micro levels for regression analysis based on the combination of importance,hierarchy,operability.Based on theoretical analysis,a multiple regression model is established.Analyze the influencing factors of the stock price from the macro and micro levels in turn,in this process,firm effects and time effects are added to control the model's endogeneity.Finally,the author selected the explanatory variables that have a significant impact on the stock price from the previous two steps,and established a unified model for regression,and got the optimal model by stepwise regression.From the analysis results,it can be seen that the electronic industry stock price has a significant correlation with macroeconomic variables,indicating that the electronic information industry has initially possessed basic industrial characteristics.Among the micro-influencing factors,earnings per share have a greater impact on stock prices,which shows that investors are more concerned about corporate profitability when choosing the target.At the same time,regression results show that the growth rate of total assets will have a certain impact on the stock price.It shows that the electronics industry is still in the development stage,and investors are optimistic about the huge potential behind the industry.