{"id":27010,"date":"2020-05-18T21:28:01","date_gmt":"2020-05-18T13:28:01","guid":{"rendered":"https:\/\/www.lixiangluntan.com\/27010.html"},"modified":"2020-05-18T21:28:01","modified_gmt":"2020-05-18T13:28:01","slug":"%e8%82%a1%e6%81%af%e6%94%bf%e7%ad%96%e7%9a%84%e5%ae%9a%e4%b9%89%e6%98%af%e4%bb%80%e4%b9%88_%e8%b4%a2%e7%bb%8f%e8%82%a1%e7%a5%a8%e8%ae%ba%e5%9d%9b","status":"publish","type":"post","link":"https:\/\/www.lixiangluntan.com\/?p=27010","title":{"rendered":"\u80a1\u606f\u653f\u7b56\u7684\u5b9a\u4e49\u662f\u4ec0\u4e48_\u8d22\u7ecf\u80a1\u7968\u8bba\u575b"},"content":{"rendered":"<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p style=\"margin-bottom:5px;\">\u80a1\u606f\u7684\u4e00\u822c\u5b9a\u4e49\u662f\u4ec0\u4e48<\/p>\n<p>\u3000\u3000<br \/>\n<strong>\u80a1\u606f\u7684\u4e00\u822c\u5b9a\u4e49\u662f\u4ec0\u4e48<\/strong>\uff1f\u80a1\u606f\u7684\u4e00\u822c\u5b9a\u4e49\u6709\u54ea\u4e9b\uff1f\u4e0b\u9762 \u77e5\u8bc6\u7f51\u4e3a\u60a8\u4ecb\u7ecd\u80a1\u606f\u7684\u4e00\u822c\u5b9a\u4e49\u3002<\/p>\n<\/blockquote>\n<p>&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<p> \u3000\u3000<strong>\u80a1\u606f\u653f\u7b56\u7684\u5b9a\u4e49\u662f\u4ec0\u4e48<\/strong>\uff1f\u80a1\u606f\u653f\u7b56\u662f\u4ec0\u4e48\u610f\u601d\uff1f\u4e0b\u9762\u77e5\u8bc6\u7f51\u4e3a\u60a8\u4ecb\u7ecd\u80a1\u606f\u653f\u7b56\u3002<\/p>\n<p> \u3000\u3000\u80a1\u5229\u653f\u7b56\u662f\u6307\u516c\u53f8\u80a1\u4e1c\u5927\u4f1a\u6216\u8463\u4e8b\u4f1a\u5bf9\u4e00\u5207\u4e0e\u80a1\u5229\u6709\u5173\u7684\u4e8b\u9879\uff0c\u6240\u91c7\u53d6\u7684\u8f83\u5177\u539f\u5219\u6027\u7684\u505a\u6cd5\uff0c\u662f\u5173\u4e8e\u516c\u53f8\u662f\u5426\u53d1\u653e\u80a1\u5229\u3001\u53d1\u653e\u591a\u5c11\u80a1\u5229\u4ee5\u53ca\u4f55\u65f6\u53d1\u653e\u80a1\u5229\u7b49\u65b9\u9762\u7684\u65b9\u9488\u548c\u7b56\u7565\uff0c\u6240\u6d89\u53ca\u7684\u4e3b\u8981\u662f\u516c\u53f8\u5bf9\u5176\u6536\u76ca\u8fdb\u884c\u5206\u914d\u8fd8\u662f\u7559\u5b58\u4ee5\u7528\u4e8e\u518d\u6295\u8d44\u7684\u7b56\u7565\u95ee\u9898\u3002<\/p>\n<p> \u3000\u3000\u7092\u91d1\u5982\u4f55\u8d5a\u94b1\u4e13\u5bb6\u514d\u8d39\u6307\u5bfc\u94f6\u884c\u9ec4\u91d1\u767d\u94f6TD\u6307\u5357\u94f6\u884c\u9ec4\u91d1\u767d\u94f6\u6a21\u62df\u4ea4\u6613\u8f6f\u4ef6\u96c6\u91d1\u53f7\u684c\u9762\u884c\u60c5\u62a5\u4ef7\u5de5\u5177\u5269\u4f59\u80a1\u5229\u653f\u7b56\uff08Residual Dividend Approach\uff09<\/p>\n<p> \u3000\u3000\u662f\u4ee5\u9996\u5148\u6ee1\u8db3\u516c\u53f8\u8d44\u91d1\u9700\u6c42\u4e3a\u51fa\u53d1\u70b9\u7684\u80a1\u5229\u653f\u7b56\u3002\u6839\u636e\u8fd9\u4e00\u653f\u7b56\uff0c\u516c\u53f8\u6309\u5982\u4e0b\u6b65\u9aa4\u786e\u5b9a\u5176\u80a1\u5229\u5206\u914d\u989d\uff1a<\/p>\n<p> \u3000\u3000\u786e\u5b9a\u516c\u53f8\u7684\u6700\u4f73\u8d44\u672c\u7ed3\u6784\uff1b<\/p>\n<p> \u3000\u3000\u786e\u5b9a\u516c\u53f8\u4e0b\u4e00\u5e74\u5ea6\u7684\u8d44\u91d1\u9700\u6c42\u91cf\uff1b<\/p>\n<p> \u3000\u3000\u786e\u5b9a\u6309\u7167\u6700\u4f73\u8d44\u672c\u7ed3\u6784\uff0c\u4e3a\u6ee1\u8db3\u8d44\u91d1\u9700\u6c42\u6240\u9700\u589e\u52a0\u7684\u80a1\u4e1c\u6743\u76ca\u6570\u989d\uff1b<\/p>\n<p> \u3000\u3000\u5c06\u516c\u53f8\u7a0e\u540e\u5229\u6da6\u9996\u5148\u6ee1\u8db3\u516c\u53f8\u4e0b\u4e00\u5e74\u5ea6\u7684\u589e\u52a0\u9700\u6c42\uff0c\u5269\u4f59\u90e8\u5206\u7528\u6765\u53d1\u653e\u5f53\u5e74\u7684\u73b0\u91d1\u80a1\u5229\u3002<\/p>\n<p> \u3000\u3000\u7a33\u5b9a\u80a1\u5229\u989d\u653f\u7b56\uff08Constant growth dividend\uff09<\/p>\n<p> \u3000\u3000\u4ee5\u786e\u5b9a\u7684\u73b0\u91d1\u80a1\u5229\u5206\u914d\u989d\u4f5c\u4e3a\u5229\u6da6\u5206\u914d\u7684\u9996\u8981\u76ee\u6807\u4f18\u5148\u4e88\u4ee5\u8003\u8651\uff0c\u4e00\u822c\u4e0d\u968f\u8d44\u91d1\u9700\u6c42\u7684\u6ce2\u52a8\u800c\u6ce2\u52a8\u3002\u8fd9\u4e00\u80a1\u5229\u653f\u7b56\u6709\u4ee5\u4e0b\u4e24\u70b9\u597d\u5904\u3002<\/p>\n<p> \u3000\u3000\u7a33\u5b9a\u7684\u80a1\u5229\u989d\u7ed9\u548c\u516c\u53f8\u80a1\u4e1c\u4e00\u4e2a\u7a33\u5b9a\u7684\u4fe1\u606f\u3002<\/p>\n<p> \u3000\u3000\u8bb8\u591a\u4f5c\u4e3a\u957f\u671f\u6295\u8d44\u8005\u7684\u80a1\u4e1c\uff08\u5305\u62ec\u4e2a\u4eba\u6295\u8d44\u8005\u548c\u673a\u6784\u6295\u8d44\u8005\uff09\u5e0c\u671b\u516c\u53f8\u80a1\u5229\u80fd\u591f\u6210\u4e3a\u5176\u7a33\u5b9a\u7684\u6536\u5165\u6765\u6e90\u201d\u4ee5\u4fbf\u5b89\u6392\u6d88\u8d39\u548c\u5176\u4ed6\u5404\u9879\u652f\u51fa\uff0c\u7a33\u5b9a\u80a1\u5229\u989d\u653f\u7b56\u6709\u5229\u4e8e\u516c\u53f8\u5438\u5f15\u548c\u7a33\u5b9a\u8fd9\u90e8\u5206\u6295\u8d44\u8005\u7684\u6295\u8d44\u3002<\/p>\n<p> 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\u3000\u3000\u6309\u7167\u8fd9\u4e00\u653f\u7b56\uff0c\u4f01\u4e1a\u9664\u6bcf\u5e74\u6309\u4e00\u56fa\u5b9a\u80a1\u5229\u989d\u5411\u80a1\u4e1c\u53d1\u653e\u79f0\u4e3a\u6b63\u5e38\u80a1\u5229\u7684\u73b0\u91d1\u80a1\u5229\u5916\uff0c\u8fd8\u5728\u4f01\u4e1a\u76c8\u5229\u8f83\u9ad8\uff0c\u8d44\u91d1\u8f83\u4e3a\u5145\u88d5\u7684\u5e74\u5ea6\u5411\u80a1\u4e1c\u53d1\u653e\u9ad8\u4e8e\u4e00\u822c\u5e74\u5ea6\u7684\u6b63\u5e38\u80a1\u5229\u989d\u7684\u73b0\u91d1\u80a1\u5229\u3002\u5176\u9ad8\u51fa\u90e8\u5206\u5373\u4e3a\u989d\u5916\u80a1\u5229\u3002<\/p>\n<p> \u3000\u3000\u66f4\u591a\u80a1\u606f\u653f\u7b56\u77e5\u8bc6\u8bf7\u5173\u6ce8\u80a1\u7968\u77e5\u8bc6\u7f51<\/p>\n<p> \uff08\u80a1\u7968\u8d44\u6e90\u9986lixiangluntan.com\uff09<\/p>\n<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p style=\"margin-bottom:5px;\">\u3010\u80a1\u7968\u8d44\u6e90\u9986\u3011\u7092\u80a1\u6559\u7a0b\u3001\u9ed1\u9a6c\u80a1\u7968\u3001\u80a1\u7968\u8d44\u8baf\u3001\u671f\u8d27\u5916\u6c47\uff0c\u5927\u667a\u6167\u6caa\u6df110\u6863\u7834\u89e3,\u9ad8\u6210\u529f\u7387\u80a1\u7968\u6307\u6807,\u7b56\u7565\u6295\u8d44\u7834\u89e3,\u8d22\u7ecf\u80a1\u7968\u8bba\u575b,\u4e1c\u65b9\u8d22\u5bcc\u7834\u89e3\u7248,\u4e1c\u65b9\u8d22\u5bcc\u4e13\u4e1a\u7834\u89e3\u7248\u3002<\/p>\n<\/blockquote>\n<blockquote style=\"font-size:15px;background-color: #F5F5F5;border:none;padding: 5px;margin:15px;line-height: 1.6;text-indent: 2em;\">\n<p style=\"margin-bottom:5px;\">\u600e\u6837\u5b9a\u4e49\u80a1\u606f\u7684\u542b\u4e49<\/p>\n<p>\u3000\u3000<br \/>\n<strong>\u600e\u6837\u5b9a\u4e49\u80a1\u606f\u7684\u542b\u4e49<\/strong>\uff1f\u600e\u4e48\u5b9a\u4e49\u80a1\u606f\u7684\u542b\u4e49\uff1f\u5982\u4f55\u5b9a\u4e49\u80a1\u606f\u7684\u542b\u4e49\uff1f<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>\u3000\u3000<br \/>\n<strong>\u80a1\u606f\u653f\u7b56\u7684\u5b9a\u4e49\u662f\u4ec0\u4e48<\/strong>\uff1f\u80a1\u606f\u653f\u7b56\u662f\u4ec0\u4e48\u610f\u601d\uff1f\u4e0b\u9762 \u77e5\u8bc6\u7f51\u4e3a\u60a8\u4ecb\u7ecd\u80a1\u606f\u653f\u7b56\u3002<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[103],"class_list":["post-27010","post","type-post","status-publish","format-standard","hentry","category-gpjbgn","tag-103"],"_links":{"self":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts\/27010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27010"}],"version-history":[{"count":0,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=\/wp\/v2\/posts\/27010\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lixiangluntan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}