摘 要:股票作为权益投资的一种重要工具,在资本市场中有着十分重要的作用和地位。作为资本市场中投资商品的一种,股票的价格也本应该受着价值规律的影响,即其价格围绕着价值的真实体现而上下波动。然而在股市的现实波动中,股票的价格往往不能遵循价值规律,甚至会经常出现股票价值与股票价格相背离的情况,这些情况的出现对投资决策具有十分重大的影响,所以预测股票价格的走势,或者说理解并发现影响股票价格走势的因素就是投资者应当关注的首要问题。本文以十二家白酒上市公司为样本，首先先对白酒行业的财务数据和在这段时间的股票波动情况进行对比分析，之后选取净资产收益率和每股收益代表白酒行业上市公司的业绩，运用横截面回归分析的方法对股票价格波动和白酒行业上市公司的业绩两者之间的变动关系进行研究。研究表明：通过数据对比分析，发现财务数据和股票之间没有太大的相关性，通过回归分析得到股票价格波动和净资产收益率之间具有正相关性关系，股票价格波动和每股收益相关性不显著，说明白酒行业上市公司股票价格的变动与白酒行业上市公司业绩之间不存在显著地相关性。
关键词：白酒行业上市公司；股票价格；公司业绩，相关性
Abstract:Equity investments in stocks as an important tool in the capital market has a very important role and status. As the capital market investments as a commodity, the price of the stock should be suffering from the impact of the law of value, that is, its price reflects the true value of around fluctuate. However, the reality of volatility in the stock market, the stock price often do not follow the law of value, even the value of the stock will often deviates from the stock price situation, these conditions appear right investment decisions has a very significant impact, so predict stock price movements , or to understand and discover the factors that affect stock price movements is that investors should focus on the most important issue. In this paper, twelve liquor companies as samples, first the first of the liquor industry financial data and stock volatility during this time to conduct comparative analysis, after selecting ROE and earnings per share represents the liquor industry performance of listed companies, the use of cross-sectional regression analysis on the stock price volatility and the performance of listed companies in the liquor industry changes in the relationship between the two studies. Studies show that: Through comparison of the data analysis, financial data and found no significant correlation between stocks resistance, through regression analysis stock price volatility and return on net assets was a positive correlation relationship between the stock price volatility and earnings per share related not significant, indicating that the liquor industry listed companies stock price movements and the liquor industry does not exist between the performance of listed companies a significant correlation.
Keywords: liquor industry listed companies; stock price; company performance, correlation
