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深入分析公司权益价格的影响因素是学者研究各种价值评估模型及方法的基础。本文以奥尔森剩余收益理论模型为基础,基于公司市场地位影响剩余收益,进而影响公司的价值并体现在其股价的机理进行拓展性研究,同时利用中国资本市场2001-2014年共14年截面数据进行实证分析,研究结果显示:反映市场地位的预收账款和应付账款对公司的权益价格产生显著的影响。最后进行总结与分析,提出具有指导性的对策建议。
It is the basis for scholars to study various valuation models and methods in-depth analysis of the impact factors of the company’s rights and interests. Based on Olson’s theory of residual income, this paper based on the market position of the company, influences the residual income, further affects the company’s value and reflects its stock price mechanism. At the same time, it makes use of the 14-year cross-section of China’s capital market from 2001 to 2014 The empirical analysis shows that the pre-paid accounts receivable and accounts payable that reflect the market position have a significant impact on the company’s equity prices. Finally, it summarizes and analyzes and puts forward some countermeasures and suggestions.