Value Investing or Speculation: the Test of Chinese Investors' Stock - picking

摘要

The factors are various for influencing investors' choice of stock picking, investors with different investment ideas have different risk preferences, showing different idea of stock selection. Adhere to the extent of the value investment idea, for investors, especially small and medium-sized investors, is to avoid market risks and a better choice. It shows that the impact of China's stock market investors to choose the primary factor is not the value of investment philosophy, through the Shanghai and Shenzhen A-share data analysis, but the concept of speculation. Fixed effect model to estimate, according to the technical, finances, news, industry as well as the fundamentals from different extent influence the investors choose stocks, but pay more attention to technical and financial analysis below.