1 stable rate of return : usually bond has fix or float coupon rate and its principal and interest payments are paid back by the issuers in a certain period . outright purchase investors could obtain fixed income and the return is higher than bank deposit rate 一投资报酬率稳定：债票上载有固定或浮动利率，按期偿还本金或利息，投资人有确定收入，且往往高于银行定存，利率下跌时更可享有资本利得而转换公司债尚得以分享股票上涨之利益。
We seek to achieve a high rate of return on invested capital by selecting quality investment at attractive prices , applying rigid standards of due diligence , implementing strategic and operational changes , and making informed decisions relating to the timing and the manner of action 我们寻求藉由慎选具价值且有合理价位的投资标的,实施合理劳动的扎实标准,执行策略上与操作上的变革，并且根据时程表与行动准则下决策，来达成高投资报酬率的目标。
By analyzing the earning character and p / e ratio , we make the better choice of stocks . at last , adjust the acceptable p / e ratio according to the earning character in order to see if the firms with good earning character can have higher p / e ratio , conversely , lower p / e ratio 分析的结果得到以下几点结论： ( 1 )在股市呈现多头走势的繁荣期及稳定成长的复苏期间，盈余品质较佳企业的组合投资报酬率最高，其次是盈余品质中等企业的组合，最差的是盈余品质较差企业的组合，显示盈余品质与股票投资报酬率间具有相关性。
Capable of producing the fastest investment result and show it upon roi : ssa wm exceed wms has professional 9 stage implementation methodology to introduce plans and the installation progress of average 12 16 work - weeks , which can make the investment and reward ratio be revealed in a very short time 能产生最迅捷的投资报酬结果并且将之显示于roi上。 ssa wm exceed wms专业的九阶段专案导入计划与平均12 16个工作周的安装过程，使得投资报酬率在极短限期内就显示出来。
If long - term investor enters the arena when light trading sparse , build a warehouse , be in probably short - term inside cannot achieve price difference earnings , but in light of the angle from long - term development , because investment cost is low , compare with the dividend income look that gets in the future , investment pay rate is ok still satisfactory 假如长期投资者在交易清淡寥落时进场建仓，或许在短期内不能获得差价收益，但从长期发展的角度来看，由于投资成本低廉，与将来得到的股利收益相比，投资报酬率还是可以令人满足的。
Estimating by adopting to earning function of mincer and the tuition fee of primary and middle school by government , the ror for investment to primary school is 7 . 6 % , the ror for investment to middle school is 8 . 0 % , the ror for investment to high school is 5 . 4 % . estimating by adopting real tuition fee of school in rural china , the ror for investment to primary school is 2 . 3 % , the ror for investment to middle school is 2 . 1 % , the ror for investment to high school is 1 . 6 % 根据mincer收入函数法，按国家规定的中小学学杂费计算，农村小学教育投资报酬率为7 . 6 ，初中教育投资报酬率为8 . 0 ，高中教育投资报酬率为5 . 4 ；按照实际调查的农村中小学学杂费支出计算，农村小学教育投资的报酬率为2 . 3 ，初中教育投资报酬率为2 . 1 ，高中为1 . 6 。
3 . characteristics to point out the essence of opportunity cost is return rate of factors , so use the opportunity cost of factors to do the benefit - cost account of agriculture products is in line with the principle of market - economy . to suggest improving the ways of the benefit - cost account of agriculture products , and put forward a new system of he benefit - cost account of agriculture products ; to calculate the shadow prices of agriculture production factors by using stochastic frontier production function and marginal productivity theory , especially acquire the shadow prices of the agriculture land ; to do the principle analysis on the supply - demand mechanism , and suggest the supply and demand curves of china agriculture production factors ; to prove the applicability of using stochastic frontier production function to research the product ion cost of agriculture products 本文研究的创新和特色之处为：指出要素机会成本的实质是要素的投资报酬率，从而认为以要素机会成本作为农产品成本收益核算的基础概念符合市场经济原则；提出以生产要素的机会成本概念为计价原则，以改进中国农产品的成本收益核算方式，据此提出符合市场经济原则、体现完全生产成本的中国农产品成本收益核算项目体系；以随机前沿生产函数方法和要素边际生产力理论为逻辑框架直接测算中国主要农业生产要素的价格，特别时土地要素的价格；对中国农业生产要素的供给和需求机制进行理论分析，给出中国农业生产要素的供给、需求曲线；在理论上论证用随机前沿生产函数技术研究农产品生产成本问题的适用性。
Ttis paper wil1 give us an easy and opened way to evaiuae a channl stratgy in consumer goods marketing field by analyalng and combining the theories ofchannl and channl evaluaion . five indexes , naxnd as the growth rate , the comprehensive markehng shar , the average reward and investinent rate of accouns , the channel cost and the trade satisfacion are chosen to evaluae the whole channel strategy . ms five indexes are most importan to consumer goods indusny 本文结合通路理论并借鉴通路绩效评价理论，提出了消费品通路策略绩效评价方法，它是一个开放式的系统，采用了消费品行业中非常重要的五个指标，它们是：成长率、综合市场占有率、经销商投资报酬率、通路成本占销售额比率以及顾客满意度，还可根据制造商的期望加入其他指标，通过对这几个指标在通路策略评价期末完成状况与期初设定目标值的比较，将通路策略在评价期内的绩效进行了完全的量化和分析。
If want with a view to to invest for a long time , unfavorable in trade lively when enter the arena , because right now , take high level for share price more , if enter the arena , build a warehouse , cost is potential on the high side , although what buy the stock invests admirably for outstanding achievement , can gain good dividend income , higher cost or meeting make invest pay rate drop 如要着眼于长期投资，则不宜在交易热闹时进场，因为此时，多为股价走高的阶段，如进场建仓，成本可能偏高，即使所购的股票为业绩优良的投资股，能够获得不错的股利收益，较高的成本还是会使投资报酬率下降。
( 2 ) the p / e ratio from estimated earning is more reasonable and precise than that from historical earning , which means the current earning has strong relevance with current stock price . ( 3 ) no matter which index is used , the earning character , the p / e ratio from estimated or historical earning , the one that has the highest yield is that with good earning character and less that 20 p / e ratio ( 3 )在结合盈余品质与市盈率指标后，发现在各期间不管是利用盈余品质指标、历史盈余的市盈率或是预估盈余的市盈率指标去衡量，投资报酬率表现最佳的，都是盈余品质较佳且预估的市盈率在20倍以下的组合，且都优于整体的市场报酬率。
