| 基于自由现金流的投资组合研究 |
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| 引用本文： | 胡华夏,张丹. 基于自由现金流的投资组合研究[J]. 财会通讯, 2007, 0(7) |
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| 作者姓名： | 胡华夏 张丹 |
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| 作者单位： | 武汉理工大学管理学院 武汉理工大学管理学院 湖北武汉 湖北武汉 |
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| 摘 要： | 本文运用我国股市1998～2006年间的财务报表数据,选择正自由现金流、低自由现金流乘数和低财务杠杆的大公司,对其以自由现金流为基础的投资组合进行了检验。结果显示,以自由现金流为基础的投资组合回报始终优于市场指数,说明在我国股市实行基于自由现金流的投资组合是积极可行的。
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| 关 键 词： | 自由现金流 投资收益 投资策略 组合管理 |
Research on Investment Portfolio based on Free Cash Flows |
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| Hu Huaxia Zhang Dan. Research on Investment Portfolio based on Free Cash Flows[J]. Communication of Finance and Accounting, 2007, 0(7) |
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| Authors: | Hu Huaxia Zhang Dan |
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| Abstract: | By using the financial states status of Chinese stock market during 1998 and 2006, this paper choose companies of big capital which owns positive free cash flows, low free cash flow multiplier and low financial leverage , then make analysis of their investment portfolio base on free cash flows. The results show that the returns of investment portfolio based on free cash flows is always higher than market index, which means that its positive and feasible to accomplish investment portfolio based on free cash flows in Chinese stock market. |
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| Keywords: | Cash flows Investment returns Investment strategy Portfolio management |
| 本文献已被 CNKI 维普 等数据库收录！ |
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