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农业行业是世界公认的高风险、低收益的行业,但又是基础产业,关系着国计民生.农业类上市公司股票价格波动风险是否会是资本市场内高风险的行业板块呢?通过实证研究发现:农业类上市公司的股票价格风险整体来说却低于市场的平均水平;账面市值比、主营业务利润、主营收入现金含量等因素和股票价格波动风险存在着显著的相关关系.而市盈率、财务杠杆和上市年限等因素虽然对股票价格波动的风险有一定的影响,但并不像假设的那样和股票价格波动风险存在显著的线性关系.
The agricultural industry is recognized as a high-risk and low-income industry in the world, but it is also a basic industry, which is related to the national economy and the people’s livelihood.Whether the risk of stock price volatility of agricultural listed companies will be the high-risk sector in the capital market? Through empirical research, The stock price risk of agricultural listed companies is lower than the market average as a whole. There is a significant correlation between the book market value, the main business profit, the cash income of main income and the risk of stock price volatility, while the price-earnings ratio, Although financial leverage and time to market have some impact on the risk of stock price volatility, they do not have a significant linear relationship with the stock price volatility risk as assumed.