price adjusted value

The paper expound an innovate method to confirm the prohibited shares' present value: the price is based on net assets per share, and adjusted by average return on equity and P/ B level.

对于非流通股的现时价值确定的课题，本文提出了一项创新：以每股净资产为基础，以平均净资产收益率和市净率水平为调整变量的计算方法。

It has become almost conventional wisdom today that the 2000 peak of 11700 on the Dow was a record level of overvaluation, based on the twin measures of the 10-year rolling inflation-adjusted price-earnings ratio and the "Q" ratio of price to book value.

按照通胀调整后的10年滚动的市盈率和市净率（q比率）这两大标准衡量，2000年时道指的11700点，是创纪录的估值过高水平，这几乎已经成为当今的传统看法。