由于公司资产流动性缺乏且其收益可见性下降，我们的公允价值范围包含30%的贴现率。

Our fair value range includes a 30% discount to account for the company's lack of liquidity and its decreased earnings visibility.

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资产流动性、成长性、资产担保价值、非债务税盾与杠杆负相关；

The empirical studies show that: (1) asset liquidity, growth, collateral and non-debt tax shields are negatively related to leverage;

youdao

资产流动性、成长性、资产担保价值、非债务税盾与杠杆负相关；

The empirical studies show that: (1) asset liquidity, growth, collateral and non-debt tax shields are negatively related to leverage;

youdao