再投资率又称内部成长性比率,是指企业每年赚取的钱(是指现金流量,而不是会计盈余),有百分之几用于投资支出(例如,净营运资金、固定设备新购、其他资产新购等)。
如果再投资率低于赎回收益率,则会出现相反情况。
If the reinvestment rate is lower than the redemption yield, the opposite is true.
假如再投资率高于赎回收益率,假定持有至偿还期,则有息债券的实践报答远远高于赎回收益率。
If the reinvestment rate is higher than the redemption yield then the actual return on the bond, assuming it is held to maturity, will be higher than the redemption yield.
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