XXX key XXXX throughout this text is XXXX XXX XXXXXX XXXXXXXX that XX XXXXXXXXX XXXXXXXX and managements XXXXX XXXXXX XXX XXX XXXX evaluate XXXXXXXX performance XX XXXXXXX XXXXXXXX XXX XXXXX and yearly XXXXXXX, XX XXXXXXX to XXX XXXXXXXXXXX XX a high earnings rate on XXXXXX XXXXXXX XXXXXXXX, XXXXXXXXXX XXX XXXXX performance XXXXX XX XXXXXXXXXX XXXX XXXXXX.
In XXX XXXXXXXXX of this text, XXX author XX offering XXXX XXXXXXXXX XXX XXXXXXXX in earnings per XXXXX. They XXXXX XXXX “XX XXXXXX this as an XXXXXXXX XXXXXX upon which to XXXXX”. Within XXX XXXXXXXXX XXXX XXXXXX of 1978-1979, XXXXX XXX XXXX more XXXXXXX to work with, XXXXXXX, XXX XXXXXXXXXXX XX XXXXX XXXX XXXXXXX XXXXXXXX; meanwhile, XXX earnings per XXXXX continued to XXXX. This XX because of XXX dividend payout XXXXX. Dividend payout XXXXX is the XXXXXXXX of net income a XXXX XXXX XX XXX XXXXXXXXXXXX in dividends: XXX XXXX of the earnings XXX paid XX XXXXXXXXX is left for XXXXXXXXXX to provide for XXXXXX earnings growth. Therefor XXX lower the XXXXXXXX payout XXXXX, XXX more XXXXX is being invested XXX future XXXXXXXX. The author XXXX XXXXXXXXX XXXX XXX XXXXXXX “primary test” of managerial XXXXXXXX XXXXXXXXXXX is the achievement of a high earnings XXXX on equity XXXXXXX employed. The author finally states XXX belief XXXX XXXXXXXXXX would XX better understood XX they XXXXXXXX that XXXXXXX emphasis XX XXXXXXX earnings XXX share XXX yearly changes.
XX you XXXX XXX XXXXX questions, XX not hesitate XX XXXXXXX XX.
"XXX primary test of XXXXXXXXXX XXXXXXXX XXXXXXXXXXX XX the achievement of a XXXX XXXXXXXX XXXX on XXXXXX capital employed (XXXXXXX XXXXX XXXXXXXX, XXXXXXXXXX XXXXXXXXX, etc.)"
XXX XXXXXXX, XX I am a XXXXXXXXXXX in several companies and I XX XXXXXXX to invest in a new venture, I may look at company X XXX XXXXXXX B. I XXXXX XXXXXXXX XXXXX two XXXXXXXXX XX XXXXXX XXXXX I XXXXXX invest in, XXXXX XX XXX XXXX XXXXXXXXXX XXXXXX. XXX way this XX XXXX XXX is by examining XXXXXXX or XXX the company XXX a XXXX earnings rate XXX the XXXXXX of XXXXXXX they have employed. XXXX would be a XXXXX. Earnings rate: capital employed. XX company A XXX the higher ratio, I XXXXX likely XXXXXX to XXXXXX in them. XXX XXXXX of this paper XX to XXX XXXX this way XX XXXXXXXXXXX XXX XXXXXXXXXX to XXXX businesses' XXXXXXX XXXXXX XX replaced be a system of XXXXXXX XXXXXXXXX XXXXX earnings per share. This way would effectively create a XXXX better way XXX XXXXXXXXX XXX current stockholders to see how XXXX XXX business XX performing.