|本期目录/Table of Contents|

中国稀土类上市公司股票收益与市场结构关系研究(PDF)

《内蒙古大学学报(社会科学版)》[ISSN:1000-9035/CN:22-1262/O4]

期数:
2011年02期
页码:
64-70
栏目:
经济学研究
出版日期:
2011-04-01

文章信息/Info

Title:
A Research of the Relations between Stock Returns of Chinese Rare-earth Resource Listed Companies and Market Structure
作者:
刘知博1 胡景亮2 宝力克3
1. 中国人民大学财政金融学院, 北京 100872;
2. 英国华威大学WMG学院, 考文垂 CV47AL;
3. 中国人民银行呼和浩特中心支行反洗钱处, 内蒙古 呼和浩特 010020
Author(s):
LIU Zhi-bo11 HU Jing-liang2 BAO Li-ke3
1. The School of Finance,Renmin University of China,Beijing 100872,China;
2. The School of WMG,University of Warwick,Coventry CV47AL,UK;
3. Anti-money Laundering Office,Huhhot Central Branch of People’s Bank of China,Hohhot 010020,China
关键词:
稀土股票收益市场结构
Keywords:
rare-earthstock returnmarket structure
分类号:
F830.91
DOI:
-
文献标识码:
-
摘要:
使用最优控制理论建立数理模型分析中国稀土类上市公司股票收益与市场结构间的关系,发现除现金流定价模型已表述的因素外,市场结构因素,包括竞争公司产品价格、竞争公司产能规模和对本公司产品的投资量三个因素亦影响公司的股票收益。上述模型也可解释我国稀土行业同业恶性竞争、兼并重组矿产资源、建立收储制度等现象。
Abstract:
This paper established a mathematical model employed the optimization method to analyze the relationship between the stock return of Chinese public companies in rare-earth resource industry and market structure.Besides the elements proclaimed by discounted cash follow model,industry market structure elements including product prices of rivals,capacities of rivals and the investment amount in products manufactured by itself are also significant factors in stock return.Furthermore,the paper researched the fundamental reasons of such phenomena as cutthroat competition,mine and companies MA and purchasing and storage in Chinese rare-earth industry.

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备注/Memo

备注/Memo:
收稿日期:2010-11-24;改回日期:。
基金项目:中国人民大学研究生科学研究基金项目(项目批准号:11XNH009)
作者简介:刘知博,男,蒙古族,内蒙古呼和浩特市人,中国人民大学财政金融学院,博士研究生;胡景亮,女,广东佛山市人,英国华威大学WMG学院,硕士研究生.
更新日期/Last Update: 1900-01-01