研究以B股48家上市公司2005-2016年的财务指标为对象,从内在价值和市场价值两个角度分析B股投资机会。实证结果表明:在人民币贬值、美元升值的背景下,B股具有潜在投资价值。应完善股票市场的融资功能和基础制度、加强市场监管;人民银行应进一步完善市场化汇率形成机制,保持人民币汇率在合理均衡水平上基本稳定;完善资本市场,均衡发展A股、B股、H股等投资产品,同时寻找新的投资机会、推动多层次的股票市场。
Take 48 B share listed companies’ financial index from 2005 to 2016 as the research object,this paper analyzed the investment opportunity of B share from two perspectives: intrinsic value and market value. The empirical results showed that: under the background of the RMB depreciates and the Dollar rises,B share has potential investment value. Improving the financing function and basic system of the stock market and strengthening the market supervision are necessary. People’s Bank of China should further improve the market-based exchange rate formation mechanism to maintain the RMB exchange rate stability at a reasonable level. In addition,the government should also improve the capital market,balance the development of A shares,B shares,H shares and other investment products,and look for new investment opportunities to promote multi-level stock market.