保险公司举牌上市公司的特征和影响
毕业论文关键词：险资；举牌；价值投资
The characteristics and influence of the listed company announced for 5% change by an insurance company
Abstract：During the past decade, China's insurance industry has been growing rapidly, and the available balance of insurance funds has been rising.China's government continue to strengthen the support of policy, innovate the insurance business. In addition to steady large traditional insurance companies, a batch of small and medium-sized insurance companies which choice universal insurance as the main products were born. Under the current environment of downward economic, low interest rates and a gradual relaxation of regulatory policies, insurance companies enter the market for the purpose of higher returns.This paper, based on the perspective of value investment,research the causes of driving insurance company investment in the secondary market,the characteristics of listed companies purchased by the capital of insurance company, and analysis the investment value to the insurance company,from the aspects of fundamental stock index and financial statements.Furthermore this paper analyzed the impact may have been caused in the process of "Announcement for 5% Change” made by Insurance capital, and pointed out the existing problems and potential risk that in the "Announcement for 5% Change” made by insurance company.
Key words: Insurance Capital；Announcement for 5% Change；value investing
目 录
摘要1
关键词1
Abstract1
Key words1
引言1
一、文献综述2
二、险资举牌的上市公司特征分析4
（一）上市公司基本面分析4
1．上市公司行业分布4
2．基本面指标分析4
（1）市盈率4
（2）市净率4
（3）净资产收益率5
（4）市值及流通比率5
（二）上市公司财务分析6
1．大股东持股比例6
2．股息率6
3．盈利增长率6
（1）营业收入增长6
（2）净利润增长6
（3）营收和净利润同步增长6
三、险资举牌对资本市场的影响6
（一）举牌给险企自身带来的风险6
1．流动性风险6
2．股价波动风险6
（二）举牌对相应上市公司的影响7
1．股价波动性7
2．股权之争增加经营风险8
3．保险公司道德风险8（三）举牌对资本市场的影响8
四、应对险资举牌风险的措施及建议9
（一）保险公司需要提高风险管控能力9
1．回归价值投资9
2.资产负债配置9
3.明确自身定位9
4.引导市场发展9
（二）我国金融体系需要完善，投资渠道应当拓展9
致谢10
参考文献10
表1 基本面指标11
表2 财务数据13
表3 上市公司大股东15
表4 上市公司成长能力20
保险公司举牌上市公司的特征和影响
引言
中国保险行业的总资产在20多年的时间里增长了200多倍,保险业的政策支持不断加强,新业务层出不穷,监管框架也在逐渐完善。上市保险公司为了回归本质,提高产品的内在价值，正主动收紧银保,加强个人保险业务。