广东工业大学学报 ›› 2012, Vol. 29 ›› Issue (4): 82-89.doi: 10.3969/j.issn.1007-7162.2012.04.017

• 综合研究 • 上一篇    下一篇

中国股票市场定期定额投资策略实证分析

潘丽华,李建新,沈光明,杨少军   

  1. 广东工业大学 应用数学学院, 广州 510520
  • 收稿日期:2012-02-16 出版日期:2012-12-25 发布日期:2012-12-25
  • 作者简介:潘丽华(1987-),女,硕士研究生,主要研究方向为金融数学.
  • 基金资助:

    广东省科技计划项目(2009B60974143)

Empirical Analysis of the Investment  Strategy of Dollarcost Averaging in China Stock Market

Pan Li-hua, Li Jian-xin, Shen Guang-ming, Yang Shao-jun   

  1. School of Applied Mathematics, Guangdong University of Technology, Guangzhou 510520, China
  • Received:2012-02-16 Online:2012-12-25 Published:2012-12-25

摘要: 从定期定额投资的定义出发,对定期定额投资策略进行了数理分析,得到其收益率公式, 总结了影响定期定额投资策略收益率的因素.通过对案例的实证分析,归纳出定期定额投资方式下确保获利的投资策略:寻找成长性良好的公司、按内在价值选择低成本股票、在跟踪公司成长性动态的基础上坚持长期投资.一般情况下定期定额投资方式不一定能确保获利,本文为采用定投方式进行股票投资的投资者提供了确保获利的理论依据和投资策略.

关键词: 股票定投;成长性;内在价值;长期投资

Abstract: Based on the definition of dollarcost averaging, the investment strategy was analysed quantitatively. The expression about the rate of stock return was achieved, and the main influence factors of stock yield were summarized through mathematical analysis. The investment strategy ensuring profit in the way of the dollarcost averaging was concluded: finding the company with well growth, choosing the security with lower costs according to the intrinsic value, and persevering in longterm investment by following the trends of the company growth. An empirical analysis has been conducted to verify the credibility of these principles. Generally, dollarcost averaging can not always assure the profit, but it provides the stock investor with an investment strategy to guarantee profit.

Key words: dollarcost averaging; company growth; intrinsic value; longterm investment

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