收益率缺口的中文解释

英文亦称yield ratio，是通过比较股票的股息收益率与长期公债的收益率，来评估股票价值是否被高估或低估的一种方法。股息收益率是将年度股息除以股票市价得出，因此股价上升时，股息收益率会下滑，股价下跌时则会上升。 这种分析认为，若股息收益率高于公债收益率，那幺股价应是处于偏低水平。

Yield Gap的英文解释

Also known as yield ratio. This ratio compares the dividend yield on equities with the yield on long-term government bonds. It s used to assess whether equities are under or over-priced compared with government bonds. The dividend yield on equities (expressed as a percentage of the share price) is usually higher than the yield on bonds, reflecting the higher risk of holding equities. When equity prices rise, their dividend yields fall as a percentage of their price, thus reducing the yield ratio. When equity prices fall their yield rises. The theory holds that if earnings yield is higher than bond yield then equities are cheap.

• percentage [pə´sentidʒ]   n.百分数；比例；部分   (初中英语单词)
• dividend [´dividənd, -dend]   n.被除数；股息   (英语四级单词)
• holding [´həuldiŋ]   n.保持，固定，存储   (英语六级单词)
• equity [´ekwiti]   n.公平；公正   (英语六级单词)
• earnings [´ə:niŋz]   n.收益；报酬；获得   (英语六级单词)