竞争优势持续期对上市银行的评价

竞争优势持续期是公司拥有正的净现值投资项目的时间,即新投资项目收益率超过投资者要求的收益率的持续时间。它有效地联结了股票估值理论与企业竞争优势评价理论。本文立足于引入量化的竞争优势持续期模型,并将其应用于上市银行的实证分析,通过研究结果来验证竞争优势持续期———作为一种股票市场投资价值的评价方法的有效性。

Evaluation of Listed Banks by Competitive Advantage Period

Competitive advantage period is the time that a company has plus NPV, namely it is a duration during which new investment return exceeds expectation of the investors. And it connects effectively stock value theory with competitive advantage evaluation theory. This article is based on introducing the quantified CAP model and applying it to the analysis of listed banks to validate the effect of CAP from the study findings.