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净资产收益率的高低是上市公司能否配股的关键?根据证监会首会办[1998]8号文件的解答,净资产收益率的计算公式为:ROE_(WA)=E/[NA_(初十)+NA_末)/2+RI×(M-6)/12]其中:E=当期净利润;NA_初=期初净资产;NA_末=期末净资产;RI=当期发行新股或配股新增净资产;M=自缴款结束日下一月份至报告期末的月份。笔者认为,该计算公式有所欠缺,给上市公司留下了操纵的空间。我们知道,净资产收益率的意义在于反映一定的会计期间净资产所派生出的净利润的大小,从而体现投资
According to the resolution of No.10 [1998] of the First Session of the CSRC, the return on net assets is calculated as follows: ROE WA = E / NA - + NA × end) / 2 + RI × (M-6) / 12] Where: E = current net profit; NA_ initial = initial net assets; NA_end = final net assets; RI = New equity for new shares; M = Month from the end of the payment period to the end of the reporting period. The author believes that there is a lack of this formula, leaving listed companies to manipulate the space. We know that the ROE of the ROE is to reflect the value of net assets derived from a certain period of time the size of the net profit in order to reflect the investment