净利润增长：净资产再投资率(equity reinvestment rate)与净资产回报率 Gnet income = Equity reinvestment rate x ROE Equity reinvested = Capex – Dep + Chg in WC – Chg in net ...
Whentheir reinvestmentrate on the added equity capitalwas 12 percent whileinterest rates generally were around 4 percent, investors becameveryhappy - and, ofcourse, theypaid happy prices.