论文部分内容阅读
净资产报酬率反应企业的综合财务绩效,而市净率则反应企业的市场绩效。无论从理论层面还是从经验层面看,净资产报酬率都与市净率高度正相关。因此,分析影响企业价值的因素,完全可以从识别、预测影响净资产报酬率的诸因素入手。杜邦分解告诉我们,市场竞争激烈程度与企业的竞争
Return on net assets reflects the company’s overall financial performance, while book value reflects the firm’s market performance. Both in theory and in experience, the return on net assets is highly correlated with the PBR. Therefore, the analysis of the factors that affect the value of an enterprise can start with identifying and predicting the factors that affect the return on net assets. DuPont decomposition tells us that the degree of market competition and business competition