{"id":17346,"date":"2024-09-27T08:30:00","date_gmt":"2024-09-27T06:30:00","guid":{"rendered":"https:\/\/vasro.de\/?p=17346"},"modified":"2024-09-21T10:57:47","modified_gmt":"2024-09-21T08:57:47","slug":"%e6%a0%aa%e5%bc%8f%e8%a9%95%e4%be%a1%e3%81%a8%e8%b2%a1%e5%8b%99%e5%88%86%e6%9e%90%e3%81%ae%e7%b4%b9%e4%bb%8b","status":"publish","type":"post","link":"https:\/\/vasro.de\/ja\/%e6%a0%aa%e5%bc%8f%e8%a9%95%e4%be%a1%e3%81%a8%e8%b2%a1%e5%8b%99%e5%88%86%e6%9e%90%e3%81%ae%e7%b4%b9%e4%bb%8b\/","title":{"rendered":"\u682a\u5f0f\u8a55\u4fa1\u3068\u8ca1\u52d9\u5206\u6790\u306e\u7d39\u4ecb"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u682a\u5f0f\u8a55\u4fa1\u3068\u8ca1\u52d9\u5206\u6790\u306f\u3001\u6295\u8cc7\u5bb6\u3068\u4f01\u696d\u306b\u3068\u3063\u3066\u6975\u3081\u3066\u91cd\u8981\u306a\u30c4\u30fc\u30eb\u3067\u3042\u308b\u3002 \u8a3c\u5238\u53d6\u5f15\u6240\u3067\u53d6\u5f15\u3055\u308c\u308b\u682a\u5f0f\u306f\u3001\u4f01\u696d\u306e\u682a\u5f0f\u3092\u8868\u3057\u3066\u3044\u308b\u3002 \u5fb9\u5e95\u3057\u305f\u8ca1\u52d9\u5206\u6790\u306b\u3088\u308a\u3001\u4f01\u696d\u306e\u5e02\u5834\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u8cc7\u7523\u3092\u8a55\u4fa1\u3059\u308b\u3053\u3068\u304c\u53ef\u80fd\u306b\u306a\u308b\u3002 \u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u5206\u6790\u306f\u3001\u682a\u5f0f\u306e\u672c\u8cea\u7684\u4fa1\u5024\u3092\u5224\u65ad\u3057\u3001<a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.americanexpress.com\/de-de\/kampagnen\/guide\/geldanlagen\/boerse\/aktienanalyse-10697\">\u6839\u62e0\u306e\u3042\u308b\u6295\u8cc7<\/a>\u5224\u65ad\u3092\u4e0b\u3059\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u3067\u3042\u308b\u3002 \u5272\u5f15\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306a\u3069\u306e\u8a55\u4fa1\u65b9\u6cd5\u306f\u3001\u682a\u5f0f\u306e\u5b9f\u969b\u306e\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u3067\u3042\u308b\u3002 \u521d\u5fc3\u8005\u306e\u305f\u3081\u306e\u682a\u306f\u3001\u77e5\u8b58\u3068\u7d4c\u9a13\u306e\u4e21\u65b9\u3092\u5fc5\u8981\u3068\u3059\u308b\u305f\u3081\u3001\u3057\u3070\u3057\u3070\u96e3\u984c\u3068\u306a\u308b\u3002 \u521d\u5fc3\u8005\u30ac\u30a4\u30c9\u306f\u3001\u57fa\u672c\u3092\u7406\u89e3\u3057\u3001\u6295\u8cc7\u306e\u8cea\u3092\u8a55\u4fa1\u3059\u308b\u306e\u306b\u5f79\u7acb\u3064\u3002 \u682a\u5f0f\u6295\u8cc7\u306b\u306f\u30c1\u30e3\u30f3\u30b9\u304c\u3042\u308b\u4e00\u65b9\u3067\u3001\u614e\u91cd\u306b\u5206\u6790\u3059\u308b\u5fc5\u8981\u306e\u3042\u308b\u30ea\u30b9\u30af\u3082\u6f5c\u3093\u3067\u3044\u307e\u3059\u3002       <\/p>\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><h2>Table of Contents<\/h2><nav><ul><li><a href=\"#grundlagen-der-aktienbewertung-und-finanzanalyse\"><a href=\"#grundlagen-der-aktienbewertung-und-finanzanalyse\">\u682a\u5f0f\u8a55\u4fa1\u3068\u8ca1\u52d9\u5206\u6790\u306e\u57fa\u790e<\/a><\/a><ul><li><a href=\"#wichtige-konzepte-der-aktienbewertung\"><a href=\"#wichtige-konzepte-der-aktienbewertung\">\u682a\u5f0f\u8a55\u4fa1\u306e\u91cd\u8981\u306a\u6982\u5ff5<\/a><\/a><\/li><li><a href=\"#ein-leitfaden-fur-einsteiger-in-die-finanzanalyse\"><a href=\"#ein-leitfaden-fur-einsteiger-in-die-finanzanalyse\">\u8ca1\u52d9\u5206\u6790\u521d\u5fc3\u8005\u306e\u305f\u3081\u306e\u30ac\u30a4\u30c9<\/a><\/a><\/li><\/ul><\/li><li><a href=\"#die-rolle-von-aktien-und-aktiengesellschaften\"><a href=\"#die-rolle-von-aktien-und-aktiengesellschaften\">\u682a\u5f0f\u3068\u516c\u958b\u6709\u9650\u4f1a\u793e\u306e\u5f79\u5272<\/a><\/a><ul><li><a href=\"#aktien-und-deren-bedeutung-fur-investoren\"><a href=\"#aktien-und-deren-bedeutung-fur-investoren\">\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u682a\u5f0f\u3068\u305d\u306e\u91cd\u8981\u6027<\/a><\/a><\/li><li><a href=\"#borsen-und-marktkapitalisierung\"><a href=\"#borsen-und-marktkapitalisierung\">\u8a3c\u5238\u53d6\u5f15\u6240\u3068\u6642\u4fa1\u7dcf\u984d<\/a><\/a><\/li><\/ul><\/li><li><a href=\"#rendite-und-risiko-ein-umfassender-leitfaden\"><a href=\"#rendite-und-risiko-ein-umfassender-leitfaden\">\u30ea\u30bf\u30fc\u30f3\u3068\u30ea\u30b9\u30af\uff1a\u7dcf\u5408\u30ac\u30a4\u30c9<\/a><\/a><ul><li><a href=\"#analyse-von-rendite-und-risiko\"><a href=\"#analyse-von-rendite-und-risiko\">\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u5206\u6790<\/a><\/a><\/li><li><a href=\"#praktische-anwendung-der-analyse\"><a href=\"#praktische-anwendung-der-analyse\">\u5206\u6790\u306e\u5b9f\u7528\u5316<\/a><\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<h2 class=\"wp-block-heading\" id=\"grundlagen-der-aktienbewertung-und-finanzanalyse\">\u682a\u5f0f\u8a55\u4fa1\u3068\u8ca1\u52d9\u5206\u6790\u306e\u57fa\u790e<\/h2>\n\n<h3 class=\"wp-block-heading\" id=\"wichtige-konzepte-der-aktienbewertung\">\u682a\u5f0f\u8a55\u4fa1\u306e\u91cd\u8981\u306a\u6982\u5ff5<\/h3>\n\n<h4 class=\"wp-block-heading\" id=\"innerer-wert-und-marktwert\">\u672c\u8cea\u7684\u4fa1\u5024\u3068\u5e02\u5834\u4fa1\u5024<\/h4>\n\n<p class=\"wp-block-paragraph\">\u682a\u5f0f\u306e\u672c\u6e90\u7684\u4fa1\u5024\u306f\u3001\u4f01\u696d\u306e\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u306b\u57fa\u3065\u304f\u5b9f\u969b\u306e\u4fa1\u5024\u3092\u53cd\u6620\u3059\u308b\u3002 \u3053\u306e\u8a55\u4fa1\u3067\u306f\u3001\u5229\u76ca\u3001\u914d\u5f53\u3001\u6210\u9577\u898b\u901a\u3057\u306a\u3069\u306e\u8981\u7d20\u304c\u8003\u616e\u3055\u308c\u308b\u3002 \u4e00\u65b9\u3001\u5e02\u5834\u4fa1\u5024\u306f\u3001\u682a\u5f0f\u304c\u8a3c\u5238\u53d6\u5f15\u6240\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u73fe\u5728\u306e\u4fa1\u683c\u3092\u793a\u3057\u3066\u3044\u308b\u3002 \u6295\u8cc7\u5bb6\u306f\u3001\u5272\u5b89\u682a\u3084\u5272\u9ad8\u682a\u3092\u898b\u6975\u3081\u308b\u305f\u3081\u306b\u3001\u672c\u6e90\u7684\u4fa1\u5024\u3068\u5e02\u5834\u4fa1\u5024\u306e\u5dee\u3092\u5229\u7528\u3059\u308b\u3002 \u3053\u306e\u65b9\u6cd5\u306f\u3001\u6839\u62e0\u306e\u3042\u308b\u6295\u8cc7\u5224\u65ad\u3092\u4e0b\u3059\u306e\u306b\u5f79\u7acb\u3064\u3002    <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"bewertungsmethoden-fundamentalanalyse-und-technische-analyse\">\u8a55\u4fa1\u65b9\u6cd5 \u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u5206\u6790\u3068\u30c6\u30af\u30cb\u30ab\u30eb\u5206\u6790<\/h4>\n\n<p class=\"wp-block-paragraph\">\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u5206\u6790\u3068\u306f\u3001\u4f01\u696d\u306e\u8ca1\u52d9\u306e\u5065\u5168\u6027\u3092\u8a55\u4fa1\u3059\u308b\u3053\u3068\u306b\u7126\u70b9\u3092\u5f53\u3066\u305f\u624b\u6cd5\u3067\u3042\u308b\u3002 \u3053\u306e\u5206\u6790\u3067\u306f\u3001\u696d\u7e3e\u4e88\u6e2c\u3001\u914d\u5f53\u3001\u305d\u306e\u4ed6\u306e\u8ca1\u52d9\u6bd4\u7387\u3092\u691c\u8a3c\u3059\u308b\u3002 <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.springerprofessional.de\/einfuehrung-in-die-aktienbewertung\/13324844\">Gleason, Johnson and Li (2013)<\/a>\u306e\u7814\u7a76\u3067\u306f\u3001\u696d\u7e3e\u4e88\u6e2c\u306e\u7cbe\u5ea6\u304c\u682a\u5f0f\u8a55\u4fa1\u306e\u8cea\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u3053\u3068\u304c\u793a\u3055\u308c\u3066\u3044\u308b\u3002 \u4e00\u65b9\u3001\u30c6\u30af\u30cb\u30ab\u30eb\u5206\u6790\u306f\u5024\u52d5\u304d\u3068\u53d6\u5f15\u91cf\u3092\u5206\u6790\u3059\u308b\u3002 \u3053\u306e\u65b9\u6cd5\u3067\u306f\u3001\u30c1\u30e3\u30fc\u30c8\u3068\u30d1\u30bf\u30fc\u30f3\u3092\u4f7f\u3063\u3066\u5c06\u6765\u306e\u5024\u52d5\u304d\u3092\u4e88\u6e2c\u3059\u308b\u3002 \u3069\u3061\u3089\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3082\u3001\u6295\u8cc7\u5bb6\u306b\u8cb4\u91cd\u306a\u6d1e\u5bdf\u3092\u63d0\u4f9b\u3059\u308b\u3002     <\/p>\n\n<h3 class=\"wp-block-heading\" id=\"ein-leitfaden-fur-einsteiger-in-die-finanzanalyse\">\u8ca1\u52d9\u5206\u6790\u521d\u5fc3\u8005\u306e\u305f\u3081\u306e\u30ac\u30a4\u30c9<\/h3>\n\n<h4 class=\"wp-block-heading\" id=\"finanzberichte-verstehen\">\u8ca1\u52d9\u5831\u544a\u306e\u7406\u89e3<\/h4>\n\n<p class=\"wp-block-paragraph\">\u682a\u5f0f\u3092\u5206\u6790\u3059\u308b\u306b\u306f\u3001\u8ca1\u52d9\u5831\u544a\u66f8\u306e\u57fa\u672c\u7684\u306a\u7406\u89e3\u304c\u4e0d\u53ef\u6b20\u3067\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u5831\u544a\u66f8\u306b\u306f\u3001\u4f01\u696d\u306e\u8ca1\u52d9\u696d\u7e3e\u306b\u95a2\u3059\u308b\u60c5\u5831\u304c\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u3002 \u6700\u3082\u91cd\u8981\u306a\u66f8\u985e\u306f\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u3001\u640d\u76ca\u8a08\u7b97\u66f8\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5831\u544a\u66f8\u3067\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u5831\u544a\u66f8\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u4f01\u696d\u306e\u8ca1\u52d9\u5b89\u5b9a\u6027\u3068\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u306e\u306b\u5f79\u7acb\u3064\u3002 \u521d\u5fc3\u8005\u306f\u3001\u5341\u5206\u306a\u60c5\u5831\u306b\u57fa\u3065\u3044\u305f\u6295\u8cc7\u5224\u65ad\u3092\u884c\u3046\u305f\u3081\u306b\u3001\u3053\u308c\u3089\u306e\u6587\u66f8\u306b\u7cbe\u901a\u3057\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308b\u3002    <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"finanzkennzahlen-und-deren-bedeutung\">\u8ca1\u52d9\u6bd4\u7387\u3068\u305d\u306e\u610f\u7fa9<\/h4>\n\n<p class=\"wp-block-paragraph\">\u8ca1\u52d9\u6bd4\u7387\u306f\u3001\u4f01\u696d\u306e\u8ca1\u52d9\u306e\u5065\u5168\u6027\u3092\u6d1e\u5bdf\u3059\u308b\u3082\u306e\u3067\u3042\u308b\u3002 \u4e3b\u8981\u306a\u6bd4\u7387\u306b\u306f\u3001\u682a\u4fa1\u53ce\u76ca\u7387\uff08PER\uff09\u3001\u682a\u4e3b\u8cc7\u672c\u5229\u76ca\u7387\uff08ROE\uff09\u3001\u8ca0\u50b5\u8cc7\u672c\u6bd4\u7387\uff08D\/E\u30ec\u30b7\u30aa\uff09\u306a\u3069\u304c\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u6bd4\u7387\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u4ed6\u793e\u3068\u6bd4\u8f03\u3057\u3066\u4f01\u696d\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u8a55\u4fa1\u3059\u308b\u306e\u306b\u5f79\u7acb\u3064\u3002 \u3053\u308c\u3089\u306e\u6307\u6a19\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u306f\u3001\u521d\u5fc3\u8005\u304c\u682a\u5f0f\u6295\u8cc7\u306e\u8cea\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306b\u4e0d\u53ef\u6b20\u3067\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u6bd4\u7387\u3092\u5206\u6790\u3059\u308b\u3053\u3068\u306f\u3001\u682a\u5f0f\u3084ETF\u306b\u6295\u8cc7\u3059\u308b\u969b\u306e\u610f\u601d\u6c7a\u5b9a\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u307e\u3059\u3002    <\/p>\n\n<h2 class=\"wp-block-heading\" id=\"die-rolle-von-aktien-und-aktiengesellschaften\">\u682a\u5f0f\u3068\u516c\u958b\u6709\u9650\u4f1a\u793e\u306e\u5f79\u5272<\/h2>\n\n<h3 class=\"wp-block-heading\" id=\"aktien-und-deren-bedeutung-fur-investoren\">\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u682a\u5f0f\u3068\u305d\u306e\u91cd\u8981\u6027<\/h3>\n\n<p class=\"wp-block-paragraph\">\u682a\u5f0f\u306f\u3001\u8cc7\u672c\u5e02\u5834\u306b\u6295\u8cc7\u3057\u3088\u3046\u3068\u3059\u308b\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u4e0d\u53ef\u6b20\u306a\u624b\u6bb5\u3067\u3042\u308b\u3002 \u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u682a\u5f0f\u306e\u91cd\u8981\u6027\u3092\u7406\u89e3\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u516c\u958b\u6709\u9650\u4f1a\u793e\u306e\u69cb\u9020\u3092\u7406\u89e3\u3059\u308b\u3053\u3068\u304c\u6975\u3081\u3066\u91cd\u8981\u3067\u3042\u308b\u3002 \u682a\u5f0f\u306f\u4f1a\u793e\u306e\u6301\u5206\u3092\u8868\u3057\u3001\u682a\u4e3b\u7dcf\u4f1a\u3067\u306e\u8b70\u6c7a\u6a29\u3084\u914d\u5f53\u306e\u6a29\u5229\u306a\u3069\u3001\u4fdd\u6709\u8005\u306b\u4e00\u5b9a\u306e\u6a29\u5229\u3092\u4e0e\u3048\u308b\u3002 <strong>1288<\/strong>\u5e74\u306b\u30b9\u30a6\u30a7\u30fc\u30c7\u30f3\u3067\u8a00\u53ca\u3055\u308c\u305f\u6700\u521d\u306e\u30b7\u30a7\u30a2\u306f\u3001\u73fe\u4ee3\u306e\u682a\u5f0f\u7406\u89e3\u306e\u57fa\u790e\u3092\u7bc9\u3044\u305f\u3002 <em>\u9023\u5408\u6771\u30a4\u30f3\u30c9<\/em>\u4f1a\u793e\u306f\u3001<strong>1603<\/strong>\u5e74\u306b\u682a\u5f0f\u304c\u53d6\u5f15\u3055\u308c\u305f\u6700\u521d\u306e\u516c\u958b\u6709\u9650\u4f1a\u793e\u3067\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u6b74\u53f2\u7684\u767a\u5c55\u306f\u3001\u6295\u8cc7\u5bb6\u3068\u7d4c\u6e08\u306b\u3068\u3063\u3066\u306e\u682a\u5f0f\u306e\u91cd\u8981\u6027\u3092\u793a\u3057\u3066\u3044\u308b\u3002     <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"aktiengesellschaften-und-ihre-struktur\">\u516c\u958b\u6709\u9650\u4f1a\u793e\u3068\u305d\u306e\u69cb\u9020<\/h4>\n\n<p 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class=\"wp-block-heading\" id=\"borsen-und-marktkapitalisierung\">\u8a3c\u5238\u53d6\u5f15\u6240\u3068\u6642\u4fa1\u7dcf\u984d<\/h3>\n\n<p class=\"wp-block-paragraph\">\u8a3c\u5238\u53d6\u5f15\u6240\u306f\u682a\u5f0f\u53d6\u5f15\u306b\u304a\u3044\u3066\u4e2d\u5fc3\u7684\u306a\u5f79\u5272\u3092\u679c\u305f\u3057\u3066\u3044\u308b\u3002 \u3053\u308c\u3089\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306f\u682a\u5f0f\u306e\u58f2\u8cb7\u3092\u53ef\u80fd\u306b\u3057\u3001\u6295\u8cc7\u5bb6\u306b\u3055\u307e\u3056\u307e\u306a\u4f01\u696d\u306b\u6295\u8cc7\u3059\u308b\u6a5f\u4f1a\u3092\u63d0\u4f9b\u3057\u3066\u3044\u308b\u3002 \u8a3c\u5238\u53d6\u5f15\u6240\u306e\u4ed5\u7d44\u307f\u306f\u9700\u8981\u3068\u4f9b\u7d66\u306b\u57fa\u3065\u3044\u3066\u304a\u308a\u3001\u682a\u5f0f\u306e\u4fa1\u683c\u306f\u5e02\u5834\u306b\u3088\u3063\u3066\u6c7a\u5b9a\u3055\u308c\u308b\u3002 \u8a3c\u5238\u53d6\u5f15\u6240\u3067\u5b9a\u671f\u7684\u306b\u53d6\u5f15\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u6700\u521d\u306e\u30c9\u30a4\u30c4\u682a\u306f\u3001<strong>1785<\/strong>\u5e74\u306e\u30a8\u30e0\u30c7\u30ca\u30fc\u30fb\u30d8\u30ea\u30f3\u30b0\u30b9\u30d5\u30a1\u30f3\u30b0\u793e\u306e\u3082\u306e\u3067\u3042\u308b\u3002 \u3053\u306e\u767a\u5c55\u306f\u3001\u682a\u5f0f\u53d6\u5f15\u306b\u304a\u3051\u308b\u8a3c\u5238\u53d6\u5f15\u6240\u306e\u91cd\u8981\u6027\u3092\u5f37\u8abf\u3057\u3066\u3044\u308b\u3002    <\/p>\n\n<h4 class=\"wp-block-heading\" id=\"funktionsweise-von-borsen\">\u8a3c\u5238\u53d6\u5f15\u6240\u306e\u4ed5\u7d44\u307f<\/h4>\n\n<p class=\"wp-block-paragraph\">\u8a3c\u5238\u53d6\u5f15\u6240\u306f\u3001\u682a\u5f0f\u3084\u305d\u306e\u4ed6\u306e\u8a3c\u5238\u304c\u53d6\u5f15\u3055\u308c\u308b\u7d44\u7e54\u5316\u3055\u308c\u305f\u5e02\u5834\u3067\u3042\u308b\u3002 \u3053\u308c\u3089\u306e\u5e02\u5834\u306f\u3001\u6295\u8cc7\u5bb6\u306b\u73fe\u5728\u306e\u5e02\u5834\u4fa1\u683c\u306b\u57fa\u3065\u3044\u3066\u682a\u5f0f\u3092\u58f2\u8cb7\u3059\u308b\u6a5f\u4f1a\u3092\u63d0\u4f9b\u3059\u308b\u3002 \u53d6\u5f15\u6240\u306e\u4ed5\u7d44\u307f\u306f\u3001\u8fc5\u901f\u304b\u3064\u52b9\u7387\u7684\u306a\u8a3c\u5238\u4ea4\u63db\u3092\u53ef\u80fd\u306b\u3059\u308b\u96fb\u5b50\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u3092\u4ecb\u3057\u305f\u53d6\u5f15\u3067\u3042\u308b\u3002 \u6295\u8cc7\u5bb6\u306f\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u591a\u69d8\u5316\u3057\u3001\u5e02\u5834\u306e\u52d5\u304d\u304b\u3089\u5229\u76ca\u3092\u5f97\u308b\u305f\u3081\u306b\u8a3c\u5238\u53d6\u5f15\u6240\u3092\u5229\u7528\u3057\u307e\u3059\u3002 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\u6295\u8cc7\u5bb6\u306f\u3001\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3084\u914d\u5f53\u3092\u542b\u3080\u3001\u6295\u8cc7\u306e\u30c8\u30fc\u30bf\u30eb\u30ea\u30bf\u30fc\u30f3\u306b\u6ce8\u76ee\u3059\u3079\u304d\u3067\u3042\u308b\u3002 <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/www.mobile-university.de\/studium\/return-on-assets\/\">\u7dcf\u8cc7\u7523\u5229\u76ca\u7387\uff08ROA<\/a>\uff09\u306f\u3001\u4f01\u696d\u306e\u52b9\u7387\u6027\u3068\u53ce\u76ca\u6027\u3092\u77e5\u308b\u4e0a\u3067\u91cd\u8981\u306a\u6307\u6a19\u3067\u3042\u308b\u3002 ROA\u304c\u9ad8\u3044\u4f01\u696d\u306f\u3001\u682a\u5f0f\u30ea\u30bf\u30fc\u30f3\u304c\u9ad8\u3044\u50be\u5411\u306b\u3042\u308b\u3002 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<strong>\u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff1a\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u4f01\u696d\u306e\u8a55\u4fa1<\/strong>\n        <\/p>\n\n<ol class=\"wp-block-list\">\n<li>\n          <p>\u4f1a\u793e\u306e\u4e3b\u8981\u8ca1\u52d9\u6570\u5024\u306e\u5206\u6790\u3002<\/p>\n        <\/li>\n\n\n\n<li>\n          <p>\u5e02\u5834\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u6210\u9577\u898b\u8fbc\u307f\u306e\u8a55\u4fa1\u3002<\/p>\n        <\/li>\n\n\n\n<li>\n          <p>\u9769\u65b0\u7684\u306a\u5f37\u3055\u3068\u6280\u8853\u958b\u767a\u306e\u5206\u6790\u3002<\/p>\n        <\/li>\n\n\n\n<li>\n          <p>\u6280\u8853\u5e02\u5834\u306b\u304a\u3051\u308b\u30ea\u30b9\u30af\u3068\u6a5f\u4f1a\u306e\u8a55\u4fa1\u3002<\/p>\n        <\/li>\n<\/ol>\n\n<p 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<p>\u5e02\u5834\u3067\u306e\u5730\u4f4d\u3068\u7af6\u4e89\u529b\u306e\u8a55\u4fa1\u3002<\/p>\n        <\/li>\n\n\n\n<li>\n          <p>\u751f\u7523\u30d7\u30ed\u30bb\u30b9\u3068\u52b9\u7387\u306e\u5206\u6790<\/p>\n        <\/li>\n\n\n\n<li>\n          <p>\u9577\u671f\u7684\u306a\u6210\u9577\u6a5f\u4f1a\u306e\u8a55\u4fa1<\/p>\n        <\/li>\n<\/ol>\n\n<p class=\"wp-block-paragraph\">\u4f1d\u7d71\u7684\u306a\u4f01\u696d\u306f\u3001\u5b89\u5b9a\u3057\u305f\u30ea\u30bf\u30fc\u30f3\u3068\u4f4e\u3044\u30ea\u30b9\u30af\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u304c\u591a\u3044\u3002 \u4f1d\u7d71\u7684\u7523\u696d\u4f01\u696d\u3092\u5206\u6790\u3059\u308b\u306b\u306f\u3001\u305d\u306e\u8ca1\u52d9\u5b89\u5b9a\u6027\u3068\u53ce\u76ca\u6027\u3092\u691c\u8a3c\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3002 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class=\"wp-block-paragraph\"><strong>\u514d\u8cac\u4e8b\u9805\uff1a<\/strong>\u672c\u8a18\u4e8b\u306b\u542b\u307e\u308c\u308b\u60c5\u5831\u306f\u4e00\u822c\u7684\u306a\u60c5\u5831\u63d0\u4f9b\u3092\u76ee\u7684\u3068\u3057\u305f\u3082\u306e\u3067\u3042\u308a\u3001\u6295\u8cc7\u30a2\u30c9\u30d0\u30a4\u30b9\u3084\u7279\u5b9a\u306e\u8cc7\u7523\u30fb\u5e02\u5834\u3078\u306e\u6295\u8cc7\u3092\u63a8\u5968\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002 VASRO GmbH\u306f\u500b\u4eba\u7684\u306a\u6295\u8cc7\u52a9\u8a00\u306f\u884c\u3063\u3066\u304a\u3089\u305a\u3001\u672c\u8a18\u4e8b\u306e\u5185\u5bb9\u306f\u305d\u306e\u3088\u3046\u306a\u3082\u306e\u3068\u307f\u306a\u3055\u308c\u308b\u3079\u304d\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002 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<\/p>\n","protected":false},"author":1,"featured_media":17045,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[314],"tags":[325,326,324],"class_list":["post-17346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-314","tag-325","tag-326","tag-324"],"_links":{"self":[{"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/posts\/17346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/comments?post=17346"}],"version-history":[{"count":0,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/posts\/17346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/media\/17045"}],"wp:attachment":[{"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/media?parent=17346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/categories?post=17346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vasro.de\/ja\/wp-json\/wp\/v2\/tags?post=17346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}