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当企业需要另筹资金来满足固定资产的投资时,它经常面临的一个重要决策是发行长期债券、优先股或普通股。本文讨论一种广泛为企业采用的融资方法:税利前利润——每股收益(EBIT—EPS)模式。通过税利前利润—每股收益分析,企业可以了解各种融资方案对每股收益的影响。此外,还可以求出长期债务与普通股、优先股与普通股的临界营业利润水平,从而进行正确的长期融资决策。一、企业长期融资对每股收益的影响假设表1 是某公司的预期损益表。另假定公司目前正考虑从事一项投资,这项投资将提
When an organization needs additional funding to meet the investment in fixed assets, it often faces an important decision to issue long-term bonds, preference shares or common stock. This article discusses a widely adopted method of financing for businesses: Profit Before Tax, Earnings Per Share (EBIT-EPS) model. Through tax profit before profit - earnings per share analysis, companies can understand the impact of various financing options on earnings per share. In addition, the critical operating profit of long-term debt and common stock, preferred stock and common stock can be calculated to make the right long-term financing decisions. First, corporate long-term financing of earnings per share Assumptions Table 1 is a company’s expected profit and loss statement. Also assume that the company is currently considering an investment, and the investment will be raised