!∀
# ∃ %
#∀&
∋()∗+,)−)./,0123456
!∀
#
Μ Ν + Ο
! ∃ 5
∃ 6
! 5
5#8/Φ ∋=)∋Ι,Π9(Θ.;+ 5
3∋Α+Θ∆Ε Ι,0Ο.;Ρ). ΙΣΟ+,0)+9:,=∆/7 3
6)∆ Ε,0Ρ). /Ρ,0)+9:,=∆/7 3
Χ7 Ι=Θ+9:7Ο.;=.:7) ∋ϑ+,0)+9:,=∆/7 6
Τ9ΑΘ=.Α7 Υ7.ς,Ο .Κ, Χ
5<∃Ω %!∀
∀ #! Τ
55∋Ξ, 0Ψ7.,Ο9(,0.:,) .;,0Θ)∆Ε,0Σ.Ι+ Τ
−−−.#!
−−/)!#0
−−/−)%
−−//)
−−/1)#
−−/2)∀∗3%
−?1?.Β3Χ∃∆Ε∋#!+
−?1Φ.Β3
9ΑΘΥ7.ς, =)∆Ε,0 5< 64
3< %!∀
∀ # ∃ %
65
35+Ε/+Θ)+9 ς7≅ΕΥ∆ΕΙ==./=,0. :,).;,0Θ) ∆Ε,0Σ.Ι+=∋ΞΡ).(, ,+9:Σ89ΑΘΘ[9:,Θ) Λ
Θ[∆Ε;,0=) ∆/,0Η)∋ ./,+9 ςΘ.Σ 65
33) ∆Ι=Θ[.Ι,0)∋ .ΙΘΠ ∋ς,0Θ.Ι+=./=,0 .:,).; ,0Θ)∆Ε,0Σ.Ι+=∋ΞΡ) .(,,+9:Σ89ΑΘ
Θ[9:,Θ)Λ Θ[∆Ε;,0 =)∆/,0Η)∋./,+ 9ςΘ.Σ 66
//−Γ∋
///>∋!(
//1!
//2!%∗
//?<!
//Φ)∀%
//Η)∀%∗∀%∗
36) ∆Ι=Θ[.Ι,0Θ8ϑ≅ 7.ΑΘ≅+,)ΥΕ ;+Θ.Ι+=./=,0.:, ).;,0Θ)∆Ε, 0Σ.Ι+=∋ΞΡ) .(,,+9:Σ
89ΑΘΘ[9:,Θ)Λ Θ[∆Ε;,0=)∆/, 0Η)∋./,+9ςΘ.Σ Χ5
/1−Ι∋∋!
/1−−<(0+!/1−/
/1−1<
Α%∋∋!
3Χ). :,Θ∗=)=./=,).:,Θ∋Α.ϑ, ))∆Εϑ,0Π9Α,Θ8ϑ≅ 7.ΑΘ≅+,)ΥΕ;+Θ.Ι+=./ =,0.:,) .;,0
Θ)∆Ε, 0Σ.Ι+,+9:Σ89 ΑΘΘ[9:, Θ)ΛΘ[∆Ε;, 0=)∆/,0 Η)∋./,+9ςΘ.Σ ΧΤ
/2−=∗(
/2/.+
11−2>Χ∀+!
11/∀(∀∀ϑ,!!(00
3!∃∋
111<4=#∀0!#
112ΙΒ+
11?8Μ3Ν 0∀
9ΑΘΥ7.ς, =)∆Ε,0 6 ⊥1
# _4
# ! _5
Μ Ν
≅ΧΑ Β∋∀Β+
Ο<Π ∀
=) =3!0
<4 <
<4<< <!
<4= <!
78; ∀Β∋
789 ∀∋!(
=)Α !)Β∀#
). 3!0
)Χ Β%∗
)8 Χ9Α8Ο ≅ΧΑΑ78>Ο0∀!6/−:6ς1/:?ΡΧ;<4=ΞΨ)ΘΟ9ΜΞΙ8Ζ
ΘΒ#/−>∋!(<4=)Α/ΣΣ?∆/Σ−/12
ΘΒ#//!%∗Ρ/ΣΣ?∆
/Σ−/1Η
ΘΒ#/1)!!<4=/Σ−/1Υ
ΘΒ#/2Ω!∋/ΣΣ?∆/Σ−/2−
ΘΒ#/?789(/ΣΣ?∆/Σ−/2/
ΘΒ#/Φ78;(/ΣΣ?∆/Σ−/21
1
!
5#8/Φ ∋=)∋Ι,Π9(Θ.;+
#03! ∃0 ∗
+ ∗ Β ∀# + i nhun
% ∋ Ωi nhun # +
0∗Β%∗=Β%∗
i nhunΒ!(∋ !( ∀∀#
%∋Β3%+Ωi nhun∀
3∋∋!(Ωi nhun#+
3%∋ +3+
!i nhun
0 0 ∆ % # /ΣΣΡ∆/ΣΣΥ ∋
(!%∋#0Ν+ #
∃ #0><(∃(∃Β0(
6Χ9Α8Ο: 06ΩΟΓΞΟΧΟ: ∀%6)8:
%∗+∗∀!∀0Β#
6Α78>Ω8;<: !06≅ΧΑ: ∀6Ο<Π:
3!6=):
)5!∋∋!∋∗5789
78;Ω∗5!∃!!∋∗
6)∆ Ε,0Ρ). /Ρ,0)+9:,=∆/7
>! ∋∗∀!∀∀3!∃ϑ
∗#+!∃∀Β
3
∋∋!6∋α ∀ ∗∀∋ +∗ ∋ ∀ ≅ΧΑ Ο<Π
=):∃∀78; 789
(∋∗∀##Α−ΦΣΒ,!∋ ∀
%∋!∋∋!=)Α
3!0><
Χ7 Ι=Θ+9:7Ο.;=.:7) ∋ϑ+,0)+9:,=∆/7
- =
+ [ 3 ∋ ∋ !
=)Α3!0><
+ úc kt lý lun tng quan v tác ng ca các nhân t n t sut sinh li
NHTM.
+ Ι∋∋!
+ Ι#∀∀ϑ!∋%
ϑ∋∋!=)Α
3!0><
- )
)#3Ν#!
•
δε=(∴]<!0∗#
∀∗3%∀∗3
%⊥
•
δεΑ∀∴Ι−Υ2−((3Ν∴]<
!(%∀!∋!#∀!
#∃∗!0 Λ∗!
0∋∗%∀#
0 %∗%⊥
•
δε><∴
<!Β0∗#
!#0%0!
∋∗∋#Β ∀0∀!
∀∀−ΥΥΣ><∴<!
6<4=:Β0∗#∀!
#0!∋∗∋
#Β 0∀!
)33∋?ΥΚ/ΣΣΥΚ<Ι∆)Α−ΦΚΣΗΚ/ΣΣΥ3Ν∴<
!!∃
6
0∗0+∋∋!
+3ΩΒ%∗+30∀∀
< <4=∗∀Λ∃
#+∋0
)<4=∀∗∀!∗
∀∀∴Β# Β0 %∗
∀!#0∗∀∗,∗
∗3! ∃ ∀%∀
) # 0 + <4= )
!Β+<4=∀%∗#0
#<4=<4=0!#
0#0!!##∋!!#
∃#0
<∗3# <4=
∀∗∗30∗∀∀∴∗3
∗3! ∃(∃Β)!∋∀Β
00( ∗3(∀Β#
%0)∃!∗3%∀
Β∃! ∀∀%∗3!
Β!2Σ∆?ΣφΒ∀Ι#!∀Β
8
∗3(+∋∗ Β
#0 !#Λ ∗0!
∀%0Β#
<#00(
∗3!%0Β
)%%#∃3
!∋! ∀∗ 00(
53 5)./+,+9ςΣΥ+,)7,=7ϑ.,0. :,).;,0Θ)∆ Ε,0Σ.Ι+
Ω!∗∀0!3(
Β∗∀Β0∀%∀!∀!∀
Β ∗ <4= ! ∃ # ∀ ( ∀
( 6∀0∀% ∗3 ∀ 0
∗ ∀0∗0 ∀
0:
Β∀%<4=!#∀%( ∀%∀%
∗3 ∀%0∗ 0 ∀%
∗∀%∗ ∗∀0#
Ω!!<4=!3∃ϑΒ∗
Β∀%0∀∗∀∀∀00
∋∋!!!∋∋!∋
10
Ω!0+0∗Β%∗
∃#∋∋!∀∋∋!
0
Ω!5∋+Β+
!+∃Ω!∋(∗,
#∋#Β
∋,!∀Β!∀%#Ω!#
Β∃χ∀0∃3Β%∀∗∀#
53 3./==)Θ+9:7Π∋Υ∆Ε;, 0Θ8ϑ≅7.ΑΘ≅+,) ΥΕ;+Θ.Ι+=./=,0.:, ).;,0Θ)∆ Ε,0Σ.Ι+
ΙΒ!∋∋!<4= !∗∋!
0∋! ∃#∋∋∴
&∀%∋∋()∗%∋)%+,−./0
789∋!∀#∋!Β∋∋
56./=, ).:,Θ∋Α.ϑ,)) ∆Εϑ,0Π9Α,Θ8ϑ≅7. ΑΘ≅+,)ΥΕ;+Θ. Ι+=./=,0.:, ).;,0Θ)∆Ε,0 Σ.Ι+
∋∋!!∃3∃!#
<(∃#∃∃
56 5).:,Θ∋Αβ9:,,0∋.;+
<3∋∀∃
∀∀%∋! + ∋
12
4#0+
> Β0∋∋! ∀
%!
∆ !∀#∴4 !#
+ +0∗(+
%Λ !0Β∋Λ(!∋!∗
∀0%∋∀∀)%∋
!Β30Β3(!%∗.
% ∋ 0Β3∋(00 ∗ ∀
∋0∗ !
#!4∀∀!∋!Β##
0<∀∀0#∃ Β∋(
0∗Λ∀00<!∀!∀!0
+∋(!∀∀∋0∗
!0+
∃%∀#&∋()<(#%∗
%Β 3!∀%!∗
+∋∗∗3!∋ ∀+0 #
+∀ 0∋ # ∋χ
56 3).:,Θ∋Αβ9:,Θ[∋,0
∃&∀#)=(,
!=+∀
Copyright: Tài liệu đại học ©