投资回报率与财务报表(英文版).pptVIP

Investment Returns, Equity Value, and Financial Statements; Understanding investment returns and how analysts’ styles are determined by their approach to forecasting returns;Chapter 3;Investment Returns;What you will learn in this chapter;For a terminal investment: For an investment in equity: For a one-year equity investment Payoff: Return: Rate-of-Return: Expected Return: Expected Rate-of-Return: Required Payoff per dollar: Required Rate-of-Return: The required return is also called the normal return or the cost of capital;Hewlett-Packard: Returns for 1991;If the price paid for a stock is