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《Journal of Wuyi University(Natural Science Edition)》 1999-01
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An Analysis on the Price-Earnings Ratio of the Common Shares of Growing Corporations

HUANG Chang-zheng (Dept. of Econ. & Manag., Wuyi Univ., Jiangmen 529020, China)  
The theoretical P/E of two typical kinds of growing corporations is analyzed in this paper. Some useful conclusions are obtained as follows: the rate of return of reinvestment other than the growth factor is the decisive factor affecting the theoretical P/E, the reciprocal of interest rate is still the appropriate index of estimating the theoretical P/E for a few of growing corporations. Hence, the phenomenon that the P/E of some growing corporations in China's Securities Markets are over 100 implies that the degree of speculation in our country's securities markets is high.
【Fund】: 五邑大学博士科研启动基金
【CateGory Index】: F830.91
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