{"id":21519,"date":"2023-12-06T02:45:20","date_gmt":"2023-12-06T02:45:20","guid":{"rendered":"https:\/\/masterskills.org\/blog\/holding-period-return-la-gi-va-cong-thuc-tinh.html"},"modified":"2023-12-22T04:55:20","modified_gmt":"2023-12-21T21:55:20","slug":"holding-period-return-la-gi-va-cong-thuc-tinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/holding-period-return-la-gi-va-cong-thuc-tinh.html","title":{"rendered":"Holding period return l\u00e0 g\u00ec v\u00e0 c\u00f4ng th\u1ee9c t\u00ednh"},"content":{"rendered":"
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<\/figure>\n

M\u1ed9t trong nh\u1eefng kh\u00e1i ni\u1ec7m b\u1ea1n c\u1ea7n n\u1eafm v\u1eefng khi b\u1eaft \u0111\u1ea7u tham gia \u0111\u1ea7u t\u01b0, \u0111\u00f3 l\u00e0 holding period return l\u00e0 g\u00ec.<\/strong><\/em> H\u00f4m nay, h\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u v\u1ec1 thu\u1eadt ng\u1eef n\u00e0y nh\u00e9.<\/p>\n

Holding period return l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n

Holding period return (HPR) c\u00f2n g\u1ecdi l\u00e0 l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3, c\u00f3 ngh\u0129a l\u00e0 t\u1ed5ng l\u1ee3i nhu\u1eadn thu \u0111\u01b0\u1ee3c trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh. B\u1ea1n c\u00f3 th\u1ec3 \u0111o l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef trong c\u00e1c kho\u1ea3ng th\u1eddi gian r\u1ea5t ng\u1eafn, ch\u1eb3ng h\u1ea1n nh\u01b0 m\u1ed9t ng\u00e0y ho\u1eb7c h\u00e0ng th\u1eadp k\u1ef7. \u0110\u00e2y l\u00e0 m\u1ed9t trong nh\u1eefng th\u01b0\u1edbc \u0111o \u0111\u01a1n gi\u1ea3n v\u00e0 quan tr\u1ecdng nh\u1ea5t \u0111\u1ec3 \u0111\u00e1nh gi\u00e1 hi\u1ec7u qu\u1ea3 \u0111\u1ea7u t\u01b0.<\/p>\n

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\u201cL\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 (HPR) ghi l\u1ea1i c\u1ea3 s\u1ef1 thay \u0111\u1ed5i gi\u00e1 tr\u1ecb kho\u1ea3n \u0111\u1ea7u t\u01b0 theo th\u1eddi gian v\u00e0 b\u1ea5t k\u1ef3 l\u1ee3i \u00edch \u0111\u1ecbnh k\u1ef3 n\u00e0o b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb n\u00f3.\u201d<\/strong><\/em><\/p>\n<\/blockquote>\n

M\u1ed9t s\u1ed1 \u0111\u1eb7c \u0111i\u1ec3m c\u1ee7a th\u1eddi gian n\u1eafm gi\u1eef<\/strong><\/span><\/h2>\n

Th\u1eddi gian n\u1eafm gi\u1eef \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 t\u00ednh l\u00e3i ho\u1eb7c l\u1ed7 v\u1ed1n \u0111\u1ea7u t\u01b0. B\u1ea5t k\u1ef3 kho\u1ea3n \u0111\u1ea7u t\u01b0 n\u00e0o c\u00f3 th\u1eddi h\u1ea1n n\u1eafm gi\u1eef d\u01b0\u1edbi m\u1ed9t n\u0103m s\u1ebd l\u00e0 kho\u1ea3n n\u1eafm gi\u1eef ng\u1eafn h\u1ea1n (t\u00f9y thu\u1ed9c v\u00e0o lo\u1ea1i t\u00e0i s\u1ea3n).<\/p>\n

Th\u1eddi gian n\u1eafm gi\u1eef \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n, b\u1eaft \u0111\u1ea7u v\u00e0o ng\u00e0y sau khi mua l\u1ea1i t\u00e0i s\u1ea3n v\u00e0 ti\u1ebfp t\u1ee5c cho \u0111\u1ebfn ng\u00e0y thanh l\u00fd ho\u1eb7c b\u00e1n t\u00e0i s\u1ea3n \u0111\u00f3. Th\u1eddi h\u1ea1n n\u1eafm gi\u1eef x\u00e1c \u0111\u1ecbnh t\u00e1c \u0111\u1ed9ng c\u1ee7a thu\u1ebf. Trong tr\u01b0\u1eddng h\u1ee3p l\u00e0 b\u1ea5t \u0111\u1ed9ng s\u1ea3n, th\u1eddi h\u1ea1n n\u1eafm gi\u1eef \u0111\u01b0\u1ee3c t\u00ednh t\u1eeb ng\u00e0y t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c \u0111\u1eb7t ho\u1eb7c ng\u00e0y s\u1edf h\u1eefu b\u1ea5t \u0111\u1ed9ng s\u1ea3n \u0111\u00f3.<\/p>\n

Khi n\u00f3i \u0111\u1ebfn t\u00e0i s\u1ea3n \u0111\u01b0\u1ee3c t\u1eb7ng, c\u1ed5 phi\u1ebfu ho\u1eb7c ch\u1ee9ng kho\u00e1n, th\u1eddi gian n\u1eafm gi\u1eef c\u0169ng bao g\u1ed3m th\u1eddi gian m\u00e0 ng\u01b0\u1eddi \u0111\u00e3 trao cho b\u1ea1n t\u00e0i s\u1ea3n. Khi n\u00f3i \u0111\u1ebfn t\u00e0i s\u1ea3n ho\u1eb7c c\u1ed5 phi\u1ebfu \u0111\u01b0\u1ee3c th\u1eeba k\u1ebf, th\u1eddi gian n\u1eafm gi\u1eef c\u1ee7a b\u1ea1n t\u1ef1 \u0111\u1ed9ng \u0111\u01b0\u1ee3c coi l\u00e0 h\u01a1n m\u1ed9t n\u0103m. \u0110i\u1ec1u n\u00e0y \u0111\u01b0\u1ee3c \u00e1p d\u1ee5ng, b\u1ea5t k\u1ec3 th\u1eddi gian n\u1eafm gi\u1eef th\u1ef1c t\u1ebf l\u00e0 bao nhi\u00eau.<\/p>\n

C\u00f4ng th\u1ee9c t\u00ednh l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3<\/strong><\/span><\/h2>\n

C\u00f4ng th\u1ee9c chung \u0111\u1ec3 t\u00ednh l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef HPR l\u00e0:<\/p>\n

HPR = Thu nh\u1eadp + (Gi\u00e1 tr\u1ecb cu\u1ed1i k\u1ef3 \u2013 Gi\u00e1 tr\u1ecb \u0111\u1ea7u k\u1ef3)\/Gi\u00e1 tr\u1ecb \u0111\u1ea7u k\u1ef3<\/p>\n

N\u1ebfu mu\u1ed1n t\u00ednh HPR h\u00e0ng n\u0103m, b\u1ea1n c\u00f3 th\u1ec3 s\u1eed d\u1ee5ng c\u00f4ng th\u1ee9c sau:<\/p>\n

HPR h\u00e0ng n\u0103m = (1+l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef)1\/n \u2013 1<\/p>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 c\u0169ng c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c t\u00ednh to\u00e1n h\u00e0ng qu\u00fd. S\u1eed d\u1ee5ng c\u00f4ng th\u1ee9c b\u00ean d\u01b0\u1edbi, b\u1ea1n c\u00f3 th\u1ec3 chuy\u1ec3n HPR h\u00e0ng qu\u00fd th\u00e0nh HPR h\u00e0ng n\u0103m:<\/p>\n

HPR h\u00e0ng n\u0103m = (1 + r1) (1 + r2) (1 + r3) (1 + r4)<\/p>\n

Trong \u0111\u00f3: r1, r2, r3, r4 l\u00e0 l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef h\u00e0ng qu\u00fd<\/p>\n

V\u00ed d\u1ee5 v\u1ec1 l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3<\/p>\n

\u0110\u1ec3 hi\u1ec3u r\u00f5 h\u01a1n v\u1ec1 l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef Holding period return l\u00e0 g\u00ec, h\u00e3y tham kh\u1ea3o v\u00ed d\u1ee5 sau.<\/p>\n

Ba n\u0103m tr\u01b0\u1edbc, X \u0111\u1ea7u t\u01b0 100 tri\u1ec7u v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a ABC Corp. M\u1ed7i n\u0103m, c\u00f4ng ty chia c\u1ed5 t\u1ee9c cho c\u00e1c c\u1ed5 \u0111\u00f4ng. M\u1ed7i n\u0103m, X nh\u1eadn \u0111\u01b0\u1ee3c 1tri\u1ec7u ti\u1ec1n c\u1ed5 t\u1ee9c. L\u01b0u \u00fd r\u1eb1ng v\u00ec X nh\u1eadn \u0111\u01b0\u1ee3c 1 tri\u1ec7u ti\u1ec1n c\u1ed5 t\u1ee9c m\u1ed7i n\u0103m n\u00ean t\u1ed5ng thu nh\u1eadp c\u1ee7a anh ta l\u00e0 3 tri\u1ec7u. H\u00f4m nay, X \u0111\u00e3 b\u00e1n c\u1ed5 phi\u1ebfu c\u1ee7a m\u00ecnh v\u1edbi gi\u00e1 120 tri\u1ec7u v\u00e0 X mu\u1ed1n x\u00e1c \u0111\u1ecbnh HPR c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh.<\/p>\n

S\u1eed d\u1ee5ng c\u00f4ng th\u1ee9c HPR, ch\u00fang ta c\u00f3 th\u1ec3 t\u00ecm th\u1ea5y nh\u1eefng \u0111i\u1ec1u sau:<\/p>\n

HPR = 3tr + (120tr \u2013 100tr)\/100tr = 0,23 ho\u1eb7c 23%<\/p>\n

Nh\u01b0 v\u1eady, kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a X v\u00e0o c\u1ed5 phi\u1ebfu c\u1ee7a ABC Corp \u0111\u00e3 ki\u1ebfm \u0111\u01b0\u1ee3c 23% trong to\u00e0n b\u1ed9 th\u1eddi gian n\u1eafm gi\u1eef kho\u1ea3n \u0111\u1ea7u t\u01b0.<\/p>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 c\u00f3 th\u1ec3 l\u00e0 s\u1ed1 \u00e2m kh\u00f4ng?<\/strong><\/span><\/h2>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 c\u1ee7a c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng l\u00e0 t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn b\u1ea1n ki\u1ebfm \u0111\u01b0\u1ee3c trong m\u1ed9t kho\u1ea3ng th\u1eddi gian nh\u1ea5t \u0111\u1ecbnh d\u1ef1a tr\u00ean s\u1ef1 thay \u0111\u1ed5i gi\u00e1 c\u1ed5 phi\u1ebfu v\u00e0 c\u1ed5 t\u1ee9c b\u1ea1n nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb c\u1ed5 phi\u1ebfu. L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u00e2m c\u00f3 ngh\u0129a l\u00e0 kho\u1ea3n \u0111\u1ea7u t\u01b0 s\u1ebd m\u1ea5t ti\u1ec1n.<\/p>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef c\u00f3 th\u1ec3 \u00e2m khi nh\u00e0 \u0111\u1ea7u t\u01b0 b\u1ecf ti\u1ec1n v\u00e0o m\u1ed9t c\u00f4ng ty m\u00e0 do qu\u1ea3n l\u00fd k\u00e9m ho\u1eb7c c\u00e1c y\u1ebfu t\u1ed1 n\u1eb1m ngo\u00e0i t\u1ea7m ki\u1ec3m so\u00e1t c\u1ee7a c\u00f4ng ty, h\u1ecd g\u1eb7p kh\u00f3 kh\u0103n trong su\u1ed1t th\u1eddi gian \u0111\u1ea7u t\u01b0.<\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t gi\u1eefa l\u1ee3i t\u1ee9c k\u1ef3 v\u1ecdng v\u00e0 t\u1ed5ng l\u1ee3i t\u1ee9c n\u1eafm gi\u1eef l\u00e0 g\u00ec?<\/strong><\/span><\/h2>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 l\u00e0 t\u1ed5ng l\u1ee3i t\u1ee9c trong m\u1ed9t s\u1ed1 kho\u1ea3n \u0111\u1ea7u t\u01b0 ho\u1eb7c th\u1eddi gian \u201cn\u1eafm gi\u1eef\u201d. L\u1ee3i t\u1ee9c k\u1ef3 v\u1ecdng l\u00e0 l\u1ee3i t\u1ee9c d\u1ef1a tr\u00ean kho\u1ea3n l\u1ee3i nhu\u1eadn trung b\u00ecnh c\u00f3 th\u1ec3 nh\u1eadn \u0111\u01b0\u1ee3c t\u1eeb m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0.<\/p>\n

L\u1ee3i \u00edch n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 quan tr\u1ecdng nh\u01b0 th\u1ebf n\u00e0o trong \u0111\u1ea7u t\u01b0?<\/strong><\/span><\/h2>\n

L\u1ee3i t\u1ee9c n\u1eafm gi\u1eef \u0111\u1ecbnh k\u1ef3 l\u00e0 m\u1ed9t th\u01b0\u1edbc \u0111o c\u01a1 b\u1ea3n trong \u0111\u1ea7u t\u01b0. Th\u01b0\u1edbc \u0111o n\u00e0y cung c\u1ea5p m\u1ed9t c\u00e1i nh\u00ecn to\u00e0n di\u1ec7n v\u1ec1 ho\u1ea1t \u0111\u1ed9ng t\u00e0i ch\u00ednh c\u1ee7a m\u1ed9t t\u00e0i s\u1ea3n ho\u1eb7c kho\u1ea3n \u0111\u1ea7u t\u01b0 v\u00ec n\u00f3 xem x\u00e9t s\u1ef1 \u0111\u00e1nh gi\u00e1 cao c\u1ee7a kho\u1ea3n \u0111\u1ea7u t\u01b0, c\u0169ng nh\u01b0 ph\u00e2n ph\u1ed1i thu nh\u1eadp li\u00ean quan \u0111\u1ebfn t\u00e0i s\u1ea3n \u0111\u00f3.<\/p>\n

T\u1ea5t c\u1ea3 c\u00e1c lo\u1ea1i \u0111\u1ea7u t\u01b0 \u0111\u1ec1u \u0111i k\u00e8m v\u1edbi r\u1ee7i ro v\u00e0 kh\u00f4ng c\u00f3 c\u00e1ch n\u00e0o \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh ch\u00ednh x\u00e1c m\u1ee9c \u0111\u1ed9 r\u1ee7i ro v\u00ec c\u00f3 r\u1ea5t nhi\u1ec1u bi\u1ebfn s\u1ed1 li\u00ean quan, t\u1eeb k\u1ebft qu\u1ea3 ho\u1ea1t \u0111\u1ed9ng trong qu\u00e1 kh\u1ee9 v\u00e0 hi\u1ec7n t\u1ea1i \u0111\u1ebfn c\u00e1c y\u1ebfu t\u1ed1 kinh t\u1ebf vi m\u00f4 v\u00e0 v\u0129 m\u00f4\u2026 C\u0169ng kh\u00f4ng c\u00f3 c\u00e1ch n\u00e0o \u0111\u1ec3 lo\u1ea1i b\u1ecf r\u1ee7i ro ho\u00e0n to\u00e0n, \u0111\u00f3 l\u00e0 l\u00fd do t\u1ea1i sao c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 lu\u00f4n n\u00ean \u0111a d\u1ea1ng h\u00f3a danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u1ee7a m\u00ecnh \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro t\u1ed1t h\u01a1n.<\/p>\n

M\u1ed9t c\u00e1ch t\u1ed1t kh\u00e1c \u0111\u1ec3 qu\u1ea3n l\u00fd r\u1ee7i ro l\u00e0 t\u00ednh to\u00e1n holding period return l\u00e0 g\u00ec. Nh\u01b0ng trong khi c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u00f3 r\u1ee7i ro cao h\u01a1n mang l\u1ea1i l\u1ee3i nhu\u1eadn cao h\u01a1n, th\u00ec r\u1ea5t \u00edt ng\u01b0\u1eddi s\u1ebd \u0111\u1ea7u t\u01b0 v\u00e0o t\u00e0i s\u1ea3n c\u00f3 r\u1ee7i ro cao nh\u1ea5t ch\u1ec9 v\u00ec l\u1eddi h\u1ee9a \u0111\u00f3. L\u00e0m nh\u01b0 v\u1eady \u0111\u01a1n gi\u1ea3n l\u00e0 kh\u00f4ng kh\u00f4n ngoan v\u00e0 m\u1ecdi ng\u01b0\u1eddi c\u00f3 m\u1ee9c \u0111\u1ed9 ch\u1ea5p nh\u1eadn r\u1ee7i ro kh\u00e1c nhau.<\/p>\n

Tr\u00e2m Nguy\u1ec5n<\/strong><\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

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

M\u1ed9t trong nh\u1eefng kh\u00e1i ni\u1ec7m b\u1ea1n c\u1ea7n n\u1eafm v\u1eefng khi b\u1eaft \u0111\u1ea7u tham gia \u0111\u1ea7u t\u01b0, \u0111\u00f3 l\u00e0 holding period return l\u00e0 g\u00ec.<\/strong><\/em> H\u00f4m nay, h\u00e3y c\u00f9ng t\u00ecm hi\u1ec3u v\u1ec1 thu\u1eadt ng\u1eef n\u00e0y 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\/21519"}],"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=21519"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/21519\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=21519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=21519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=21519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}