高级财务管理.pptVIP

2021/3/13 * 财务杠杆程度Degree of Financial Leverage  ΔEPS/EPS DFL（at x）＝ ─────── ＝ ΔEBIT/EBIT EBIT ＝ ────────── EBIT－I－Dp/(1－T) 式中:DFL—财务杠杆程度 I—利息 EPS—每 股收益  Dp—优先股股息 T—税率假设前提:利率不变;优先股股息不变;资本结构不变;税率不变; 2021/3/13 * 综合杠杆程度Degree of Combined Leverage( DCL)  ?EPS/EPS DCL= ────── = DOL×DFL = ?Sales/Sales Sales －V ?EAT/EAT = ──────