Financial performance about company value in liquor industry

In recent years, liquor industry has been a hot spot for investment. We find the relationship between the change of company value and the change of financial indexes of companies in liquor industry from 2002 to 2011 by multiple regression analysis and principle component analysis according to all the listed companies in the liquor industry. The results show in the overhead ratio, selling expense productivity ratio, net asset value per share, reserve fund per share, net profit margin, quarterly revenue growth and quarterly earnings growth will influence the change of stock price a lot. However, contrary to general perception, there is a positive correlation between the overhead ratio and change of the stock prices, and a negative correlation between selling expense productivity ratio and change of stock price. More importantly, our study provides a new way to analyze the relationship between company value and financial indexes and contributes to estimation theory.