{"id":30372,"date":"2023-12-07T09:13:50","date_gmt":"2023-12-07T09:13:50","guid":{"rendered":"https:\/\/masterskills.org\/blog\/ti-so-tham-dinh-appraisal-ratio-la-gi-cong-thuc-tinh-ti-so-tham-dinh.html"},"modified":"2023-12-23T06:12:56","modified_gmt":"2023-12-22T23:12:56","slug":"ti-so-tham-dinh-appraisal-ratio-la-gi-cong-thuc-tinh-ti-so-tham-dinh","status":"publish","type":"post","link":"https:\/\/masterskills.org\/blog\/ti-so-tham-dinh-appraisal-ratio-la-gi-cong-thuc-tinh-ti-so-tham-dinh.html","title":{"rendered":"T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh (Appraisal Ratio) l\u00e0 g\u00ec? C\u00f4ng th\u1ee9c t\u00ednh t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh"},"content":{"rendered":"<div class=\"vnbcbc-body vceditor-content wi-active\" data-role=\"content\">\n<figure class=\"VCSortableInPreviewMode\" type=\"Photo\" style=\"\">\n<div><\/div><figcaption class=\"PhotoCMS_Caption\">\n<p data-placeholder=\"[Nh\u1eadp ch\u00fa th\u00edch \u1ea3nh]\" class=\"\">H\u00ecnh minh h\u1ecda<\/p>\n<\/figcaption><\/figure>\n<h2><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh (Appraisal Ratio)<\/font><\/h2>\n<p><b>Kh\u00e1i ni\u1ec7m<\/b><\/p>\n<p><b>T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/b> trong ti\u1ebfng Anh l\u00e0 <b>Appraisal Ratio.<\/b><\/p>\n<p><i>T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/i> l\u00e0 t\u1ec9 l\u1ec7 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 \u0111o l\u01b0\u1eddng kh\u1ea3 n\u0103ng l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 qu\u1ea3n l\u00ed qu\u0129 \u1edf h\u1ea1ng cao hay th\u1ea5p h\u01a1n. N\u00f3 so s\u00e1nh s\u1ed1 alpha c\u1ee7a qu\u0129 v\u1edbi r\u1ee7i ro phi h\u1ec7 th\u1ed1ng ho\u1eb7c \u0111\u1ed9 l\u1ec7ch chu\u1ea9n th\u1eb7ng d\u01b0 (residual standard deviation) c\u1ee7a danh m\u1ee5c \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n<p>Alpha c\u1ee7a qu\u0129 l\u00e0 s\u1ed1 ti\u1ec1n l\u00e3i d\u00f4i ra m\u00e0 ng\u01b0\u1eddi qu\u1ea3n l\u00ed \u0111\u00e3 ki\u1ebfm \u0111\u01b0\u1ee3c so v\u1edbi ti\u00eau chu\u1ea9n c\u1ee7a qu\u0129. \u0110\u00f3 l\u00e0 m\u1ed9t ph\u1ea7n l\u1ee3i nhu\u1eadn m\u00e0 ng\u01b0\u1eddi qu\u1ea3n l\u00ed danh m\u1ee5c \u0111\u1ea7u t\u01b0 ch\u1ecbu tr\u00e1ch nhi\u1ec7m qu\u1ea3n l\u00ed ho\u1ea1t \u0111\u1ed9ng. T\u1ec9 l\u1ec7 cho bi\u1ebft c\u00f3 bao nhi\u00eau \u0111\u01a1n v\u1ecb l\u1ee3i nhu\u1eadn m\u00e0 ng\u01b0\u1eddi qu\u1ea3n l\u00ed \u0111ang t\u1ea1o ra tr\u00ean m\u1ed7i \u0111\u01a1n v\u1ecb r\u1ee7i ro.<\/p>\n<h3><b><font style=\"line-height: 22px; font-size: 22px;\" color=\"#3d85c6\">C\u00f4ng th\u1ee9c t\u00ednh t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/font><\/b><\/h3>\n<figure class=\"VCSortableInPreviewMode noCaption\" type=\"Photo\" style=\"\">\n<div><\/div><figcaption class=\"PhotoCMS_Caption\">\n<p data-placeholder=\"[Nh\u1eadp ch\u00fa th\u00edch \u1ea3nh]\" class=\"NLPlaceholderShow\">\n<\/figcaption><\/figure>\n<p>Trong \u0111\u00f3:<\/p>\n<p>Alpha: t\u1ec9 su\u1ea5t l\u1ee3i nhu\u1eadn c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u00e3 l\u1ef1a ch\u1ecdn<\/p>\n<p>R: l\u00e0 r\u1ee7i ro phi h\u1ec7 th\u1ed1ng c\u1ee7a c\u00e1c c\u1ed5 phi\u1ebfu \u0111\u00e3 l\u1ef1a ch\u1ecdn<\/p>\n<p><i>T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/i> c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 x\u00e1c \u0111\u1ecbnh kh\u1ea3 n\u0103ng l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00ed danh m\u1ee5c. B\u1eb1ng c\u00e1ch ch\u1ecdn m\u1ed9t r\u1ed5 \u0111\u1ea7u t\u01b0, c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed c\u1ee7a m\u1ed9t qu\u0129 \u0111\u1ea7u t\u01b0 t\u00edch c\u1ef1c s\u1ebd c\u1ed1 g\u1eafng \u0111\u1ea1t \u0111\u01b0\u1ee3c l\u1ee3i nhu\u1eadn t\u01b0\u01a1ng \u1ee9ng v\u1edbi ti\u00eau chu\u1ea9n \u0111\u00e3 cho ho\u1eb7c th\u1ecb tr\u01b0\u1eddng t\u1ed5ng th\u1ec3.\u00a0<\/p>\n<p><i>T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/i> \u0111o l\u01b0\u1eddng hi\u1ec7u su\u1ea5t ho\u1ea1t \u0111\u1ed9ng c\u1ee7a c\u00e1c nh\u00e0 qu\u1ea3n l\u00ed b\u1eb1ng c\u00e1ch so s\u00e1nh l\u1ee3i nhu\u1eadn c\u1ee7a c\u1ed5 phi\u1ebfu c\u1ee7a h\u1ecd v\u1edbi r\u1ee7i ro c\u1ee5 th\u1ec3 c\u1ee7a c\u00e1c l\u1ef1a ch\u1ecdn \u0111\u00f3. T\u1ec9 l\u1ec7 n\u00e0y c\u00e0ng cao ch\u1ee9ng t\u1ecf hi\u1ec7u su\u1ea5t ho\u1ea1t \u0111\u1ed9ng c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00ed n\u00e0y c\u00e0ng t\u1ed1t.<\/p>\n<p><b>V\u00ed d\u1ee5 v\u1ec1 t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/b><\/p>\n<p>Gi\u1ea3 s\u1eed m\u1ed9t qu\u0129 t\u01b0\u01a1ng h\u1ed7 XYZ c\u00f3 alpha l\u00e0 0,06 v\u00e0 r\u1ee7i ro phi h\u1ec7 th\u1ed1ng l\u00e0 0,6. S\u1eed d\u1ee5ng c\u00f4ng th\u1ee9c tr\u00ean, ta c\u00f3<i> t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/i> c\u1ee7a qu\u0129 t\u01b0\u01a1ng h\u1ed7 XYZ l\u00e0 0,06 \/ 0,6 = 0,01.<\/p>\n<p><b>H\u1ea1n ch\u1ebf c\u1ee7a t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<br \/><\/b><\/p>\n<p><i>T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/i> \u0111o l\u01b0\u1eddng l\u1ee3i t\u1ee9c c\u1ee7a qu\u0129 tr\u00ean m\u1ed7i \u0111\u01a1n v\u1ecb r\u1ee7i ro. Tuy nhi\u00ean, v\u1ea5n \u0111\u1ec1 v\u1ec1 l\u1ee3i nhu\u1eadn l\u00e0 alpha &#8211; ph\u1ea7n l\u1ee3i nhu\u1eadn n\u00e0y c\u00f3 \u0111\u01b0\u1ee3c th\u01b0\u1eddng \u0111\u01b0\u1ee3c cho l\u00e0 do k\u0129 n\u0103ng l\u1ef1a ch\u1ecdn c\u1ed5 phi\u1ebfu v\u00e0 qu\u1ea3n l\u00ed qu\u0129 c\u1ee7a nh\u00e0 \u0111\u1ea7u t\u01b0.\u00a0<\/p>\n<p>Do \u0111\u00f3, <b>t\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh<\/b> l\u00e0 th\u01b0\u1edbc \u0111o m\u1ee9c \u0111\u1ed9 ho\u00e0n v\u1ed1n c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00ed qu\u0129 mang l\u1ea1i cho m\u1ed9t qu\u0129 tr\u00ean m\u1ed7i \u0111\u01a1n v\u1ecb r\u1ee7i ro. V\u1ec1 v\u1ea5n \u0111\u1ec1 r\u1ee7i ro phi h\u1ec7 th\u1ed1ng &#8211; ph\u1ea7n r\u1ee7i ro n\u00e0y li\u00ean quan \u0111\u1ebfn r\u1ee7i ro c\u1ee7a c\u00e1c kho\u1ea3n \u0111\u1ea7u t\u01b0 h\u01a1n l\u00e0 r\u1ee7i ro li\u00ean quan \u0111\u1ebfn to\u00e0n b\u1ed9 th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n n\u00f3i chung.<\/p>\n<p><i>(T\u00e0i li\u1ec7u tham kh\u1ea3o: investopedia.com, investinganswers.com)<\/i><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"vnbcbc-sapo\" data-role=\"sapo\">\n                            T\u1ec9 s\u1ed1 th\u1ea9m \u0111\u1ecbnh (ti\u1ebfng Anh: Appraisal Ratio) l\u00e0 t\u1ec9 l\u1ec7 \u0111\u01b0\u1ee3c s\u1eed d\u1ee5ng \u0111\u1ec3 \u0111o l\u01b0\u1eddng kh\u1ea3 n\u0103ng l\u1ef1a ch\u1ecdn \u0111\u1ea7u t\u01b0 c\u1ee7a nh\u00e0 qu\u1ea3n l\u00ed qu\u0129 \u1edf h\u1ea1ng cao hay th\u1ea5p h\u01a1n.\n                        <\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[417],"tags":[],"_links":{"self":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30372"}],"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=30372"}],"version-history":[{"count":0,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/posts\/30372\/revisions"}],"wp:attachment":[{"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/media?parent=30372"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/categories?post=30372"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/masterskills.org\/blog\/wp-json\/wp\/v2\/tags?post=30372"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}