利润乘数
利润乘数-
我国市场同美国市场一样，伴随着无形资产投入比例的降低，企业利润和净资产与股价的综合相关性在下降。并且无形资产比重越低，企业利润定价乘数越小。
Like American market , the reducing of intangible assets ratios leads to the decreasing of the pricing multiples of earnings in China , and this may be that investors consider the lower intangible assets ratio , the lower earnings persistence .