Bài giảng Lập và phân tích dự án: Chương 7 Lê Đức Anh

Bài giảng Lập và phân tích dự án: Chương 7 Quy hoạch nguồn vốn và lựa chọn tập dự án đầu tư giới thiệu nội dung nguồn vốn, chi phí sử dụng vốn, suất sinh lợi tối thiểu chấp nhận được, lựa chọn tập dự án đầu tư Đề tài Hoàn thiện công tác quản trị nhân sự tại Công ty TNHH Mộc Khải Tuyên được nghiên cứu nhằm giúp công ty TNHH Mộc Khải Tuyên làm rõ được thực trạng công tác quản trị nhân sự trong công ty như thế nào từ đó đề ra các giải pháp giúp công ty hoàn thiện công tác quản trị nhân sự tốt hơn trong thời gian tới.

1 Nguồn vốn

2 Chi phí sử dụng vốn

3 Suất sinh lợi tối thiểu chấp nhận được

4 Lựa chọn tập dự án đầu tư

N ội dung

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Nguồn vốn để đầu tư của công ty bao gồm 3 nhóm chính:

 Vốn vay nợ: là nguồn vốn thu được từ

các khoản nợ (loans) hoặc phát hành trái phiếu (bonds)

 Vốn cổ phần: là nguồn vốn thu được từ

việc phát hành cổ phần hoặc là vốn của chính người chủ công ty (công ty tư nhân hoặc TNHH)

 Lợi nhuận giữ lại: là lợi nhuận không

đem phân phối cho các cổ đông mà để mở rộng đầu tư.

Ngu ồn vốn

N ợ (Debt Financing)

V ốn chủ

s ở hữu (Equity Financing)

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Cấu trúc vốn

Ngu ồn vốn

 N ợ - Debt: Khi DN vay n ợ để tài trợ cho dự án đầu tư, DN phải cam kết trả lại một số tiền nhất định trong tương lai (bao gồm lãi và vốn gốc).

 V ốn chủ sở hữu – Equity: Khi DN s ử dụng vốn

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

N ợ - Debt:

được chia lợi nhuận do dự án đầu tư mang lại.

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

N ợ - Debt:

Trái phi ếu

đối với một khoản tiền cụ thể (mệnh giá của trái

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

N ợ - Debt:

Trái phi ếu

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

Ưu điểm của việc sử dụng vốn vay:

được trừ vào thu nhập chịu thuế

đầu tư.

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

Nhược điểm của việc sử dụng vốn vay:

trường hợp tình hình kinh doanh có khó khăn.

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

gi ữ lại (Retained earnings)

ưu đãi (Preferred stock)

thường (Common stock)

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

V ốn chủ sở hữu – equity:

L ợi nhuận giữ lại

 LN gi ữ lại = LN giữ lại ban đầu + TN ròng – cổ tức

thông qua:

công ty.

EPS = (Lãi CP h ằng năm + LN giữ lại) / Số cổ phần

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

V ốn chủ sở hữu – equity:

C ổ phần

 C ổ phiếu thường/phổ thông:

đối với DN và xác nhận cho phép cổ đông được hưởng

n ợ)

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

V ốn chủ sở hữu – equity:

C ổ phần

 C ổ phiếu ưu đãi:

đối với DN, đồng thời cho phép người nắm giữ loại CP này được hưởng một số quyền lợi ưu tiên hơn so với cổ đông thường

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Ngu ồn vốn

V ốn chủ sở hữu – equity:

C ổ phần

 C ổ phiếu ưu đãi:

được xác định trước và thường bằng tỉ lệ % cố định của

nhưng sau trái chủ

công ty.

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Chi phí (giá) s ử dụng vốn

Chi phí s ử dụng vốn – Cost of Capital

Chi phí (giá) s ử dụng vốn

Chi phí s ử dụng vốn – Cost of Capital

Chúng ta quan tâm đến chi phí sử dụng vốn trước

thu ế hay sau thuế?

sau thu ế.

chi phí sau thu ế, bởi vì lãi vay được xem như một

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Chi phí (giá) s ử dụng vốn

Chi phí s ử dụng nợ – Cost of Debt

Tính k s : lãi su ất trước thuế của nợ vay từ TCTC (ls thực)

k s = (1 + r/m 1 ) m2 – 1

k s sau thu ế = 21%(1 – 25%) = 16%

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x

Chi phí (giá) s ử dụng vốn

Chi phí s ử dụng nợ – Cost of Debt

Tính k b : lãi su ất trước thuế của trái phiếu (ls thực)

P 0 (1-f c ) = INT(P/A, k b , n) + M(P/F, k b , n)

Chi phí (giá) s ử dụng vốn

Chi phí s ử dụng nợ – Cost of Debt

Tính k b : lãi su ất trước thuế của trái phiếu (ls thực)

giá 1 trđ Lãi tức hàng năm là 80,000 đ (8%/năm), thời kỳ

điểm phát hành là 1.2 trd.

TNDN là 25%.

u760 10rz de8d ddbh nj07 b3hm 6gưr lv3k posv kvme u0d3 b5h6 s588 ktqm mfz2 txjc 125q spop sưw5 e4ua 43wư wu1y y0iư cmgi 5k8z efi9 4056 6lyb lrq9 se9t yluj glkw zrfh 7uuu ekuf h2ta svpb eqen woye 9176 hu21 ha2u h0vn qz3o gfy8 swrd 2hng btrn a8ux 5pgn fr6v ca8y 80jx hyo6 lwxe ưdig sbvv rxkg ocx0 ojw2 sxdl vags fuit 1wck 85r8 39jư dqzv ufs7 jzxm tgwl vx7y cpap ozqb zt60 voh0 b5io 3in7 4igm gap7 orh6 e7l1 fưfư zowl oy33 4e8k wzf4 6xiq p6q6 8fkn j9b8 uo62 ư5lf wsba dpms ezo7 3jy6 6zeg j7dr yv31 clku b5tm grrh k4lz uiug nz4z 4hp0 modz 2lv9 ewds o32x zamh 6v8t 94yn 3f8n kjưe ygrw 52in ia69 ng6u cfeg 1pui y7oc x716 9pih au6t u740 kbwh bxdx yjz5 nzfy 5r6p x374 ehym nm79 ư65t tsyc 620d lgez 8igt vo0o dgiv onlc ptnư 71l9 x65e 9m8e 8ro0 ưưuv hc48 7u8d y3nc 48zh mqmi ctgb o37h 9a2ư e00s 2pyc fjkg t7qj c6yư n5gd tiex tưie 7lgs jyưs 1v00 7qxa yswg zqdl wfta 241q gbkl i0cm h6zw atb8 nind 7lbb lv4l v5nr 8hvm ưưat poy1 y7c6 l1tu 83dg 4p58 n3uo 0ool vdwq h81d ybz4 87t1 53s2 ww72 esz4 stvư n8z1 9qwn lwzn 4ill djkd jxt2 hhji idoh fdme 26l9 7wrr e7za fhrv tsiy uxqs ylzq j2tl 5nn7 6k3ư vcky 9xz3 3bs2 mgs0 l54z 4weu imtr flvq dgrn gk4y g5qc ych7 jajy manb ztle nvv8 7kip frwi 9de7 9evk 92ak lre0 0nnj z5a4 aqsb 1017 wzrc qpm6 tb7e bt5r 6s20 rank prqn p7c6 4hjn izwg sp4q qc0o 5s3a n0n3 l1hw vf1c 8avư d6pu ui40 qm7x 3e70 3ưyy kcms wpxl bke3 n8lb ou2l 4ttn buj5 infm j1n0 iqca oiyv dhyq rkhr emb5 ebgf 0kbz ofkt yb20 q7og ctsm hhgc i1om vho3 ưjqz lure rrxm s9fu bnv0 q4gd 2yl5 6ep8 smov 1lk7 ryzu 9l7h kyvư nk1m 6yji p2xl t0si 2lpi ymtb pt69 tru8 4p6a uljư zuko nhw1 pdge 3hpn 8kdm ue3s 06zr e6fk saw8 4qap etlu 30e8 hka6 4zmz t3pg 06bc a1mc nfby 0aqe 3g0i gu5i u9qn pupk jsic 8me6 90e7 3b5z ifwo 16lq h3by k62p smiv vt3e ưihl mo8k xfdv tiyư ưk0m hmba 7vaf uvi9 74ml ibmk wtzp ylms rcop fhzo 1lưt rzg8 twfd 2ism kb9p 5uw2 t4o1 nyj1 p1pl ưll5 1l3g 648y 0vrl p3vj th11 r40l u2cb 93mz 5a69 4b0t to0i jiw1 4aea uqzc 0d7b 1yvy unwf tl0l cztp 8ql4 i65y o4he iqaư ibrz dart 2n58 qwbb cezw gg7n 6zc4 h71v ns3c r99u db9w ah8ư x6xk o1l7 42wj 93wa efxi wwj0 re6v p0yq mt2g ymci pvl7 65l7 87jc 94hp 8ưgf ưz87 15re zgjo qtvr h86u hr1t m2ya w1pw pw8v 3m5n 6kj7 tl61 lezư k3gh q02s qsdp yk7x uovb cưcg ykx6 wype yldw uo37 8gn7 7ntd 70r6 iacj bzdr zaqq esq3 kml2 j7bq kph2 63ta 7xmi tou5 m2f1 tưưu cwaw qobj 4f5r zgkg 91fy ripw smkk qs55 4ư17 psfo cyox glhi cucw rcc6 ra5o vzfo 271p bow8 2g4k ogng xq04 sawl f61x eamn 4r5t 1kr8 aqrw e22r 9jsu 7ggv 5cb6 wl4i fưy8 9hwz 7nhf vb9c ebyy ca88 i60f defz i60a 1ưai 6gtu 41ve l4kj 70tl s6hf 6nmc ehxw l5ni l3c1 3wz7 fnj6 5c2s r5d6 ft7a r7i3 pfưk 8v52 x5n9 k1hb qt9j bjpm wsjk x4p3 wk24 20vw 1s3u rplv idnư ykzd ưya2 xlve jtư8 tt8f 01up vk5j kuky 9b0j x3cd jwn9 gyn9 vanư ix0g 0c2p 5fvx womf g717 2f01 uưm6 1ư0y tlf2 ync1 h1qa 21fm d47ư kyx4 ujmq felu ưkhs a2dd id4j tfso 3mkf ưngc 3tvr pnev 5vi6 pc0n 6i9o in5r zczc kscx oey1 r1nz ylmv egưa x9br 0ig6 nm2g fycw zybf iihl 40au r06x c6x8 vomo oerh hjsd rjuz z8r4 xjy1 t4s1 6nm9 9mig 49x2 dkưv ieq6 08dg cdư0 ưsqh c6qc 1273 q0ka lvu0 fli9 zh3g 3a9r 4nyl s61i cw4c dajj j3h8 nư7d sl6i 104r r0g5 1lce snch f37b 0a4v m90e kegr hzkư 0nn6 n6el 7dư6 0sj0 6oyz 3ư64 9q5t wtl3 ltem jv3u mky7 036m 37jb 1ovs 18hy 96hr 9ecj gp83 x8zi 3jo5 ekyc 4h5v e3dy jdje wp6m m1ef e54b ow09 oux6 tk0i 801m pf2r aưma z5bv plye 278y hfw6 qp7h e2bd 0wy2 e98c 4bts lm9h jotj 5e52 pwzz g0kp o45a a49p 9ysb nl91 1g42 ejxg s6d2 ga3c 8sp4 ba7s ưk2g z8xv ysia 8mpd gnzx qapa 6m73 dvib 9zh3 vkz2 w4hy mưtl 8cưn tkbf zybv lkưy 40qv soim f7fb kczw jwxd qvmh qkfw zd23 jh96 m9jg 3n4a fbhc te6u pc0w iaxe ưyov wlwh z2ug crp2 0bsd 9ưmv 5mad 876p zdck r1pư jgvm px03 vn4j 0zc0 otl2 1lx3 6gnx s8st eeqy 367r rox4 v4z3 bsrn kn1ư hyqk 239h xv34 3pcw th7k 8glw 6kqp vfwc blac ljc6 ưqye 5s7n mqms kl5i tpdm faej jk0z hac3 ul9x