{"id":21374,"date":"2023-12-06T02:40:23","date_gmt":"2023-12-06T02:40:23","guid":{"rendered":"https:\/\/masterskills.org\/blog\/dilution-la-gi-dau-hieu-nhan-biet-va-tac-dong-cua-dilution.html"},"modified":"2023-12-22T04:54:53","modified_gmt":"2023-12-21T21:54:53","slug":"dilution-la-gi-dau-hieu-nhan-biet-va-tac-dong-cua-dilution","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/dilution-la-gi-dau-hieu-nhan-biet-va-tac-dong-cua-dilution.html","title":{"rendered":"Dilution l\u00e0 g\u00ec? D\u1ea5u hi\u1ec7u nh\u1eadn bi\u1ebft v\u00e0 t\u00e1c \u0111\u1ed9ng c\u1ee7a Dilution"},"content":{"rendered":"
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Dilution l\u00e0 g\u00ec?<\/strong> Khi n\u00e0o th\u00ec xu\u1ea5t hi\u1ec7n dilution v\u00e0 n\u00f3 \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o t\u1edbi c\u1ed5 \u0111\u00f4ng c\u0169ng nh\u01b0 doanh nghi\u1ec7p. C\u00f9ng t\u00ecm hi\u1ec3u trong b\u00e0i vi\u1ebft d\u01b0\u1edbi \u0111\u00e2y nh\u00e9.<\/p>\n

Dilution l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n
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\u201cDilution c\u00f3 ngh\u0129a l\u00e0 suy gi\u1ea3m c\u1ed5 phi\u1ebfu, x\u1ea3y ra khi m\u1ed9t c\u00f4ng ty ph\u00e1t h\u00e0nh th\u00eam c\u1ed5 phi\u1ebfu l\u00e0m gi\u1ea3m t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a m\u1ed9t c\u1ed5 \u0111\u00f4ng hi\u1ec7n t\u1ea1i.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

Ngo\u00e0i Dilution th\u00ec kh\u00e1i ni\u1ec7m Stock Dilution hay Equity Dilution c\u0169ng c\u00f3 ngh\u0129a t\u01b0\u01a1ng \u0111\u01b0\u01a1ng.\u00a0<\/p>\n

Qu\u00e1 tr\u00ecnh dilution di\u1ec5n ra khi doanh nghi\u1ec7p n\u00e0o \u0111\u00f3 \u0111\u00e3 c\u00f3 c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ti\u1ebfn h\u00e0nh ho\u1ea1t \u0111\u1ed9ng ni\u00eam y\u1ebft c\u1ed5 phi\u1ebfu m\u1edbi. Ho\u1ea1t \u0111\u1ed9ng n\u00e0y l\u00e0m cho t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a c\u1ed5 \u0111\u00f4ng tr\u01b0\u1edbc \u0111\u00f3 b\u1ecb gi\u1ea3m xu\u1ed1ng, s\u1ed1 c\u1ed5 phi\u1ebfu ni\u00eam y\u1ebft tr\u00ean th\u1ecb tr\u01b0\u1eddng th\u00ec t\u0103ng l\u00ean. T\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu gi\u1ea3m xu\u1ed1ng n\u00e0y c\u00f2n \u0111\u01b0\u1ee3c g\u1ecdi l\u00e0 suy gi\u1ea3m c\u1ed5 phi\u1ebfu.<\/p>\n

V\u00ed d\u1ee5, m\u1ed9t c\u00f4ng ty ph\u00e1t h\u00e0nh 1000 c\u1ed5 phi\u1ebfu cho 1000 c\u1ed5 \u0111\u00f4ng. Sau m\u1ed9t th\u1eddi gian, c\u00f4ng ty ti\u1ebfp t\u1ee5c ph\u00e1t h\u00e0nh th\u00eam 1000 c\u1ed5 phi\u1ebfu cho 1000 c\u1ed5 \u0111\u00f4ng m\u1edbi th\u00ec r\u00f5 r\u00e0ng t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a c\u1ed5 \u0111\u00f4ng t\u1eeb 1% s\u1ebd gi\u1ea3m xu\u1ed1ng c\u00f2n 0,5%.<\/p>\n

T\u1ea5t nhi\u00ean, t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u00e0ng nh\u1ecf th\u00ec \u0111\u1ed3ng ngh\u0129a quy\u1ec1n bi\u1ec3u quy\u1ebft c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0 s\u1ebd c\u00e0ng gi\u1ea3m. Tuy nhi\u00ean, c\u00f3 m\u1ed9t v\u00e0i tr\u01b0\u1eddng h\u1ee3p ri\u00eang bi\u1ec7t khi ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi kh\u00f4ng x\u1ea3y ra qu\u00e1 tr\u00ecnh suy gi\u1ea3m. V\u00ed d\u1ee5 nh\u01b0 tr\u01b0\u1eddng h\u1ee3p doanh nghi\u1ec7p t\u00e1ch c\u1ed5 phi\u1ebfu ho\u1eb7c tr\u1ea3 c\u1ed5 t\u1ee9c. Khi \u0111\u00f3, d\u1eabu t\u1ef7 l\u1ec7 l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 ph\u1ea7n gi\u1ea3m nh\u01b0ng n\u00f3 kh\u00f4ng l\u00e0m thay \u0111\u1ed5i t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a c\u1ed5 \u0111\u00f4ng.<\/p>\n

C\u00e1c tr\u01b0\u1eddng h\u1ee3p d\u1eabn \u0111\u1ebfn Dilution<\/strong><\/p>\n

Trong v\u00e0i n\u0103m tr\u1edf l\u1ea1i \u0111\u00e2y, th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n Vi\u1ec7t Nam t\u0103ng tr\u01b0\u1edfng m\u1ea1nh m\u1ebd. Nh\u1eefng t\u00e0i kho\u1ea3n F0 tham gia th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n t\u0103ng m\u1ee9c k\u1ef7 l\u1ee5c \u0111\u1eb7c bi\u1ec7t trong \u0111\u1ea7u . N\u1eafm b\u1eaft \u0111\u01b0\u1ee3c \u0111i\u1ec1u n\u00e0y, r\u1ea5t nhi\u1ec1u doanh nghi\u1ec7p c\u0169ng \u0111\u00e3 ti\u1ebfn h\u00e0nh ph\u00e1t h\u00e0nh th\u00eam c\u1ed5 phi\u1ebfu m\u1edbi. M\u1eb7c d\u00f9 th\u1ecb tr\u01b0\u1eddng kh\u00f4ng c\u00f2n s\u00f4i \u0111\u1ed9ng nh\u01b0 tuy nhi\u00ean th\u1ef1c t\u1ebf, \u0111\u00e2y v\u1eabn l\u00e0 giai \u0111o\u1ea1n m\u00e0 nhi\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 t\u00ecm ki\u1ebfm c\u01a1 h\u1ed9i m\u1edbi \u0111\u1ec3 b\u00f9 \u0111\u1eafp c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 thua l\u1ed7 tr\u01b0\u1edbc \u0111\u00f3. Khi nhu c\u1ea7u nh\u00e0 \u0111\u1ea7u t\u01b0 v\u1eabn c\u00f2n th\u00ec ch\u1eafc ch\u1eafn hi\u1ec7n t\u01b0\u1ee3ng suy gi\u1ea3m c\u1ed5 phi\u1ebfu c\u00f2n di\u1ec5n ra.<\/p>\n

C\u00f3 r\u1ea5t nhi\u1ec1u nguy\u00ean nh\u00e2n d\u1eabn \u0111\u1ebfn hi\u1ec7n t\u01b0\u1ee3ng dilution. Ngo\u00e0i m\u1ee5c \u0111\u00edch doanh nghi\u1ec7p mu\u1ed1n huy \u0111\u1ed9ng v\u1ed1n th\u00ec n\u00f3 n\u1eb1m trong b\u00e0i to\u00e1n qu\u1ea3n tr\u1ecb r\u1ee7i ro, chi\u1ebfn l\u01b0\u1ee3c kinh doanh m\u1edbi c\u1ee7a doanh nghi\u1ec7p, ch\u00ednh s\u00e1ch \u0111\u1ed1i v\u1edbi c\u1ed5 \u0111\u00f4ng, nh\u00e2n s\u1ef1 c\u1ed1t c\u00e1n hay \u0111\u1ed1i v\u1edbi \u0111\u1ed1i th\u1ee7 c\u1ea1nh tranh\u2026 Nh\u01b0ng c\u1ed5 \u0111\u00f4ng th\u01b0\u1eddng ch\u1ec9 bi\u1ebft tr\u01b0\u1eddng h\u1ee3p d\u1eabn \u0111\u1ebfn dilution m\u00e0 \u00edt khi hi\u1ec3u r\u00f5 m\u1ee5c \u0111\u00edch c\u1ee7a doanh nghi\u1ec7p.<\/p>\n

H\u00e3y c\u00f9ng \u0111\u1ecdc ti\u1ebfp \u0111\u1ec3 bi\u1ebft l\u00ed do d\u1eabn \u0111\u1ebfn dilution l\u00e0 g\u00ec nh\u00e9.<\/p>\n

C\u1ee5 th\u1ec3 c\u00f3 nh\u1eefng tr\u01b0\u1eddng h\u1ee3p sau:<\/strong><\/p>\n

Chuy\u1ec3n \u0111\u1ed5i tr\u00e1i phi\u1ebfu, ch\u1ee9ng kho\u00e1n sang c\u1ed5 phi\u1ebfu:<\/strong><\/p>\n

Trong tr\u01b0\u1eddng h\u1ee3p n\u00e0y, doanh nghi\u1ec7p ph\u00e1t h\u00e0nh th\u00eam c\u1ed5 phi\u1ebfu \u0111\u1ec3 th\u1ef1c hi\u1ec7n y\u00eau c\u1ea7u chuy\u1ec3n \u0111\u1ed5i. M\u1ee5c ti\u00eau sau chuy\u1ec3n \u0111\u1ed5i l\u00e0 doanh nghi\u1ec7p t\u0103ng s\u1ed1 l\u01b0\u1ee3ng s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu m\u00e0 kho\u1ea3n n\u1ee3 vay t\u1eeb tr\u00e1i phi\u1ebfu s\u1ebd gi\u1ea3m.<\/p>\n

Gi\u1ea3m chi ph\u00ed vay th\u00ec doanh nghi\u1ec7p s\u1ebd c\u00f3 nhi\u1ec1u thu\u1eadn l\u1ee3i h\u01a1n n\u00ean kh\u00f4ng b\u1ecb \u1ea3nh h\u01b0\u1edfng nhi\u1ec1u. Tuy nhi\u00ean, \u0111i\u1ec1u n\u00e0y l\u00e0m thay \u0111\u1ed5i t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a c\u1ed5 \u0111\u00f4ng, vai tr\u00f2 v\u00e0 quy\u1ec1n l\u1ee3i c\u1ee7a c\u1ed5 \u0111\u00f4ng b\u1ecb suy gi\u1ea3m.<\/p>\n

Ch\u00e0o b\u00e1n ri\u00eang l\u1ebb:<\/strong><\/p>\n

\u0110\u00e2y l\u00e0 qu\u00e1 tr\u00ecnh doanh nghi\u1ec7p ti\u1ebfn h\u00e0nh ch\u00e0o b\u00e1n c\u1ed5 phi\u1ebfu cho s\u1ed1 \u00edt nh\u00e0 \u0111\u1ea7u t\u01b0 \u01b0u ti\u00ean. V\u1ec1 c\u01a1 b\u1ea3n \u0111\u00f3 l\u00e0 nh\u00f3m c\u1ed5 \u0111\u00f4ng \u0111\u1eb7c bi\u1ec7t, c\u00f3 vai tr\u00f2 quan tr\u1ecdng nh\u01b0 c\u1ed5 \u0111\u00f4ng chi\u1ebfn l\u01b0\u1ee3c, \u0111\u1ed1i t\u00e1c uy t\u00edn c\u1ee7a c\u00f4ng ty n\u00ean con s\u1ed1 n\u00e0y kh\u00f4ng qu\u00e1 nhi\u1ec1u, th\u00f4ng th\u01b0\u1eddng d\u01b0\u1edbi 100 nh\u00e0 \u0111\u1ea7u t\u01b0. Tr\u01b0\u1eddng h\u1ee3p n\u00e0y r\u00f5 r\u00e0ng khi\u1ebfn t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a c\u1ed5 \u0111\u00f4ng c\u0169 b\u1ecb suy gi\u1ea3m.<\/p>\n

Ch\u00e0o b\u00e1n c\u1ed5 phi\u1ebfu ra th\u1ecb tr\u01b0\u1eddng:<\/strong><\/p>\n

So v\u1edbi ch\u00e0o b\u00e1n ri\u00eang l\u1ebb th\u00ec s\u1ef1 ki\u1ec7n n\u00e0y ch\u1ec9 kh\u00e1c \u1edf quy m\u00f4 v\u00e0 \u0111\u1ed1i t\u01b0\u1ee3ng \u0111\u01b0\u1ee3c m\u1edf r\u1ed9ng h\u01a1n. N\u00f3 th\u01b0\u1eddng di\u1ec5n ra khi doanh nghi\u1ec7p c\u00f3 nhu c\u1ea7u huy \u0111\u1ed9ng v\u1ed1n l\u1edbn. V\u00e0 \u0111i\u1ec1u \u0111\u00f3 c\u0169ng khi\u1ebfn hi\u1ec7n t\u01b0\u1ee3ng dilution di\u1ec5n ra m\u1ea1nh m\u1ebd.<\/p>\n

Ch\u00e0o b\u00e1n c\u1ed5 phi\u1ebfu cho c\u1ed5 \u0111\u00f4ng hi\u1ec7n h\u1eefu:<\/strong><\/p>\n

\u0110\u00e2y l\u00e0 tr\u01b0\u1eddng h\u1ee3p m\u00e0 tr\u01b0\u1edbc \u0111\u00f3 c\u1ed5 \u0111\u00f4ng \u0111\u00e3 c\u00f3 c\u1ed5 phi\u1ebfu v\u00e0 \u0111\u01b0\u1ee3c mua th\u00eam khi doanh nghi\u1ec7p ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi. N\u1ebfu t\u1ea5t c\u1ea3 c\u1ed5 \u0111\u00f4ng c\u00f9ng mua theo \u0111\u00fang t\u1ec9 l\u1ec7 th\u00ec hi\u1ec7n t\u01b0\u1ee3ng dilution kh\u00f4ng di\u1ec5n ra. Nh\u01b0ng khi c\u00f3 c\u1ed5 \u0111\u00f4ng kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n mua th\u00ec r\u00f5 r\u00e0ng, t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a h\u1ecd b\u1ecb gi\u1ea3m, \u0111\u1ed3ng ngh\u0129a dilution di\u1ec5n ra.<\/p>\n

V\u00ed d\u1ee5, tr\u01b0\u1edbc \u0111\u00f3 c\u1ed5 \u0111\u00f4ng A c\u00f3 t\u1ef7 l\u1ec7 s\u1edf h\u1eefu l\u00e0 5% th\u00ec khi doanh nghi\u1ec7p ph\u00e1t h\u00e0nh 1000 c\u1ed5 phi\u1ebfu, c\u1ed5 \u0111\u00f4ng A \u0111\u01b0\u1ee3c quy\u1ec1n mua 50 c\u1ed5 phi\u1ebfu, c\u1ed5 \u0111\u00f4ng B c\u0169ng v\u1eady. Nh\u01b0ng c\u1ed5 \u0111\u00f4ng B kh\u00f4ng th\u1ef1c hi\u1ec7n quy\u1ec1n mua khi\u1ebfn t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd gi\u1ea3m xu\u1ed1ng.<\/p>\n

Ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu cho c\u00f4ng nh\u00e2n vi\u00ean c\u00f4ng ty:<\/strong><\/p>\n

\u0110\u00e2y l\u00e0 ch\u00ednh s\u00e1ch m\u00e0 g\u1ea7n \u0111\u00e2y \u0111\u01b0\u1ee3c r\u1ea5t nhi\u1ec1u doanh nghi\u1ec7p \u00e1p d\u1ee5ng. H\u1ecd d\u00e0nh c\u1ed5 phi\u1ebfu \u01b0u \u0111\u00e3i cho nh\u1eefng nh\u00e2n vi\u00ean xu\u1ea5t s\u1eafc nh\u1eb1m kh\u00edch l\u1ec7, trao th\u00eam quy\u1ec1n l\u1ee3i \u0111\u1ec3 gi\u1eef ch\u00e2n nh\u00e2n s\u1ef1. T\u1ea5t nhi\u00ean khi nh\u00e2n s\u1ef1 trong c\u00f4ng ty t\u0103ng t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu th\u00ec t\u1ec9 l\u1ec7 s\u1edf h\u1eefu c\u1ee7a c\u1ed5 \u0111\u00f4ng b\u00ean ngo\u00e0i gi\u1ea3m \u0111i v\u00e0 hi\u1ec7n t\u01b0\u1ee3ng dilution s\u1ebd di\u1ec5n ra.<\/p>\n

T\u00e1c \u0111\u1ed9ng c\u1ee7a dilution l\u00e0 g\u00ec?\u00a0<\/strong><\/span><\/h2>\n

H\u1ec7 qu\u1ea3 c\u1ee7a vi\u1ec7c c\u1ed5 phi\u1ebfu b\u1ecb suy gi\u1ea3m kh\u00f4ng ch\u1ec9 l\u00e0m gi\u1ea3m t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a c\u1ed5 \u0111\u00f4ng m\u00e0 c\u00f2n \u1ea3nh h\u01b0\u1edfng \u0111\u1ebfn c\u00e1c l\u1ee3i \u00edch tr\u1ef1c ti\u1ebfp c\u1ee7a c\u1ed5 \u0111\u00f4ng. V\u00ec t\u1ef7 l\u1ec7 s\u1edf h\u1eefu gi\u1ea3m n\u00ean quy\u1ec1n h\u1ea1n, vai tr\u00f2 v\u00e0 l\u1ee3i \u00edch t\u1ea1i c\u00f4ng ty c\u1ee7a c\u1ed5 \u0111\u00f4ng c\u0169ng s\u1ebd b\u1ecb gi\u1ea3m \u0111\u1ed3ng th\u1eddi \u1ea3nh h\u01b0\u1edfng tr\u1ef1c ti\u1ebfp t\u1edbi quy\u1ec1n l\u1ee3i c\u1ed5 t\u1ee9c c\u1ee7a c\u1ed5 \u0111\u00f4ng. V\u00ec th\u1ebf ph\u1ea7n l\u1edbn c\u00e1c c\u1ed5 \u0111\u00f4ng \u0111\u1ec1u ngh\u0129 dilution theo chi\u1ec1u h\u01b0\u1edbng ti\u00eau c\u1ef1c.\u00a0<\/p>\n

Tuy nhi\u00ean, c\u0169ng c\u00f3 nhi\u1ec1u c\u1ed5 \u0111\u00f4ng nh\u00ecn nh\u1eadn dilution theo h\u01b0\u1edbng t\u00edch c\u1ef1c h\u01a1n. B\u1edfi v\u1ec1 b\u1ea3n ch\u1ea5t, m\u1ed9t s\u1ed1 tr\u01b0\u1eddng h\u1ee3p dilution gi\u00fap doanh nghi\u1ec7p huy \u0111\u1ed9ng th\u00eam \u0111\u01b0\u1ee3c v\u1ed1n, m\u1edf r\u1ed9ng s\u1ea3n ph\u1ea9m ho\u1eb7c c\u00f4ng ty ti\u1ebfn h\u00e0nh chi\u1ebfn l\u01b0\u1ee3c kinh doanh m\u1edbi, mang l\u1ea1i nhi\u1ec1u l\u1ee3i nhu\u1eadn \u0111\u1ec3 tr\u1ea3 c\u1ed5 t\u1ee9c cho nh\u00e0 \u0111\u1ea7u t\u01b0.<\/p>\n

\u0110\u00f4i khi c\u00f4ng ty ph\u00e1t h\u00e0nh c\u1ed5 phi\u1ebfu m\u1edbi l\u00e0 \u0111\u1ec3 huy \u0111\u1ed9ng v\u1ed1n mua l\u1ea1i c\u00f4ng ty c\u1ea1nh tranh, m\u1edf r\u1ed9ng quy m\u00f4 kinh doanh. Do \u0111\u00f3, khi dilution di\u1ec5n ra, c\u1ed5 \u0111\u00f4ng c\u1ea7n b\u00ecnh t\u0129nh xem x\u00e9t v\u1ea5n \u0111\u1ec1 \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 \u0111\u00fang t\u00ecnh h\u00ecnh. V\u00ec c\u00f3 th\u1ec3 trong ng\u1eafn h\u1ea1n, n\u00f3 g\u00e2y ti\u00eau c\u1ef1c cho c\u1ed5 \u0111\u00f4ng v\u00e0 t\u00e1c \u0111\u1ed9ng x\u1ea5u t\u1edbi doanh nghi\u1ec7p nh\u01b0ng v\u1ec1 d\u00e0i h\u1ea1n r\u1ea5t c\u00f3 th\u1ec3 n\u00f3 l\u00e0 kh\u1edfi \u0111\u1ea7u cho s\u1ef1 ph\u00e1t tri\u1ec3n m\u1edbi c\u1ee7a doanh nghi\u1ec7p.<\/p>\n

D\u00f9 theo chi\u1ec1u h\u01b0\u1edbng t\u1ed1t hay x\u1ea5u th\u00ec kh\u00f4ng th\u1ec3 ph\u1ee7 nh\u1eadn, khi hi\u1ec7n t\u01b0\u1ee3ng dilution di\u1ec5n ra, kh\u00f4ng ch\u1ec9 c\u1ed5 \u0111\u00f4ng m\u00e0 doanh nghi\u1ec7p b\u1ecb \u1ea3nh h\u01b0\u1edfng nh\u1ea5t \u0111\u1ecbnh. N\u00f3 c\u00f3 th\u1ec3 khi\u1ebfn c\u1ed5 \u0111\u00f4ng s\u00e1ng l\u1eadp m\u1ea5t quy\u1ec1n ki\u1ec3m so\u00e1t, thay \u0111\u1ed5i c\u01a1 c\u1ea5u c\u1ed5 \u0111\u00f4ng, x\u00e1o tr\u1ed9n v\u1ec1 quy\u1ec1n l\u1ef1c\u2026 N\u00f3 c\u0169ng thay \u0111\u1ed5i c\u01a1 c\u1ea5u v\u1ed1n, l\u00e0m t\u0103ng v\u1ed1n ch\u1ee7 s\u1edf h\u1eefu. Ngo\u00e0i ra, n\u00f3 t\u0103ng tr\u00e1ch nhi\u1ec7m v\u00e0 vai tr\u00f2 cho ban l\u00e3nh \u0111\u1ea1o doanh nghi\u1ec7p nh\u1eefng ng\u01b0\u1eddi t\u0103ng t\u1ef7 l\u1ec7 s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu l\u00e0 ph\u1ea3i t\u1ea1o ra l\u1ee3i nhu\u1eadn l\u1edbn nhu\u1eadn l\u1edbn h\u01a1n v\u1edbi ph\u1ea7n v\u1ed1n t\u0103ng th\u00eam\u2026<\/p>\n

Tr\u00ean \u0111\u00e2y l\u00e0 nh\u1eefng n\u1ed9i dung ch\u00ednh v\u1ec1 kh\u00e1i ni\u1ec7m dilution l\u00e0 g\u00ec, t\u1ea1i sao x\u1ea3y ra hi\u1ec7n t\u01b0\u1ee3ng dilution c\u0169ng nh\u01b0 t\u00e1c \u0111\u1ed9ng c\u1ee7a hi\u1ec7n t\u01b0\u1ee3ng n\u00e0y \u0111\u1ed1i v\u1edbi c\u1ed5 \u0111\u00f4ng v\u00e0 doanh nghi\u1ec7p. Hy vong chia s\u1ebb n\u00e0y gi\u00fap b\u1ea1n hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 suy gi\u1ea3m c\u1ed5 phi\u1ebfu v\u00e0 c\u00f3 \u0111\u00e1nh gi\u00e1 h\u1ee3p l\u00fd trong \u0111\u1ea7u t\u01b0 t\u00e0i ch\u00ednh.<\/p>\n

Nguy\u1ec5n L\u00fd<\/strong><\/p>\n

\u00a0<\/p>\n

<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dilution l\u00e0 g\u00ec?<\/strong> Khi n\u00e0o th\u00ec xu\u1ea5t hi\u1ec7n dilution v\u00e0 n\u00f3 \u1ea3nh h\u01b0\u1edfng nh\u01b0 th\u1ebf n\u00e0o t\u1edbi c\u1ed5 \u0111\u00f4ng c\u0169ng nh\u01b0 doanh nghi\u1ec7p. C\u00f9ng t\u00ecm hi\u1ec3u trong b\u00e0i vi\u1ebft d\u01b0\u1edbi \u0111\u00e2y nh\u00e9.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[429],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21374"}],"collection":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/comments?post=21374"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21374\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=21374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=21374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=21374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}