CAJ | 학술논문

价值投资不适论者常以国情不同、证券市场不成熟、上市公司缺乏投资价值等外在环境因素来否定价值投资在我国股市的适用性.价值投资作为一种与股票投机相对的、基于商业经营视角的企业股权投资理念,具有普适性,仍然适用于我国.我国投资环境尚不理想更加凸显了价值投资的必要性和重要性.但是,绝大部分股市投资者误解错用了价值投资.价值投资在股权文化的建设、投资者利益的保护、股市功能的发挥等方面具有重要作用,我国股市的健康发展需要大力弘扬价值投资.
개치투자불괄론자상이국정불동、증권시장불성숙、상시공사결핍투자개치등외재배경인소래부정개치투자재아국고시적괄용성.개치투자작위일충여고표투궤상대적、기우상업경영시각적기업고권투자이념,구유보괄성,잉연괄용우아국.아국투자배경상불이상경가철현료개치투자적필요성화중요성.단시,절대부분고시투자자오해착용료개치투자.개치투자재고권문화적건설、투자자이익적보호、고시공능적발휘등방면구유중요작용,아국고시적건강발전수요대력홍양개치투자.
Because of extrinsic environmental factors, such as different national conditions, immaturity of stock market and lack of good listed companies, many commentators deny the applicability of the value investment in China＇ stock market. Being different from the stock speculation, value investment is a corporate equity investment philosophy that is based on the perspective of the business operations. It is universal and still applicable to our country. That our investment environ- ment is not ideal highlights the necessity and importance of the investment. However, most stock investors misunder- stand and misuse of value investing, The value investment plays an important role on the construction of equity cultural, the protection of investors＇ interests, the play of stock market function and so on. We need to carry forward the value investment vigorously for the healthy development of China＇ stock market.