Abstract: The performance of agricultural listed companies was not satisfied in Chinese stock market for quite a long time. In 2017, the performance of agricultural stocks, such as Zhangzi Island and Western Animal Husbandry was not up to expectations, which leading to great negative in the agricultural sector. Investment value and financing ability were analyzed by using weekly data of agricultural stocks. The results showed that the stock issuance scale of agricultural listed companies was small and their financing abilities were weak. After establishing the agricultural stock portfolio, it could be found that the total market value and liquidity were positive correlated with the portfolio yield, but the volatility and the portfolio yield were inversed U-shaped, and the correlation between the volume and the portfolio yield was weak. Stock market was the best way for agricultural listed companies financing. The agricultural developing and rural promoting related to the operating efficiency of agricultural listed companies. Those were important for agricultural listed companies to adjust the market value, enhance liquidity and control risks. Furthermore, the institutional investors with the portfolio involving of agricultural stocks could rise profit, and could improve the financing abilities of agricultural listed companies.
Key words: agricultural stock; momentum effect; timing strategy; investment value