中英文外文文献企业盈利能力分析

(debt interest) is always pany's tax, while the cost of equity (preserved benefits and dividends) is not tax deductible for pany. Shareholders tend to fall into debt to get more tax saving, in this way, "indebted enterprise value appears to be higher than pany that is not under debt"[7, 36]. РFinancial breakeven return РEstablishing pany's position in relation to financial return breakeven for financial risk analysis is determined taking into account fixed costs and fixed financial costs, meaning interest expenses. In this situation turnover is calculated corresponding to a financial breakeven return or "financial standstill". Breakeven thus determined depends on four fundamental variables [10]: - three parameters that influence the stability results of operations: * stability of turnover;