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The theoretical calculation model for price-earning ratio (PE) is deduced through transforming the dividend discount model so as to find out the main factors affecting price-earning ratio in theory. Stocks of Shanghai Stock Exchange (SSE) 180 index are selected as the sample, and empirical study on the main factors affecting price-earning ratio is carried out based on the panel data during the 2005–2008...
That is a good way that use the ARCH family models to describe the time-varying characteristic of the return sequence on stocks. Intuitively, the influence to present from the long history data should not bigger than the short history data. So the order restriction to the parameter is according to the fact better. This paper researched the maximum likelihood estimator (MLE) of the parameters in the...
In recent years, research for bank efficiency has became a most important topic of financial industry and regulatory authorities. China's banking industry has experienced large-scale shareholding reform since 2003, and has gone through the global financial crisis began in 2008, now it is facing the challenges and competition from opening-door policy in banking business. Under this background, this...
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