Demonstration Research of Bias Between Price and Value in China

摘要

This paper analyses the reason of the bias between corporation value and stock price, and gives the explanation. Because there was much longer horizon of information appearance in real market price would perform bias in value in generally, and average bias in value could scale the precision of reflection to information. Market Emotional Index could describe how investor expected the future market. Then the listed corporation of China is used to test the model, and Grange causality test is done.