Tnh thanh khon (Liquidity)

Tnh thanh khon (hay cn gi l tnh lng) hiu l vic chng khon hay cc khon n, khon phi thu...c kh nng i thnh tin mt d dng, thun tin cho vic thanh ton hay chi tiu. Ta c th ly mt v d, trong k ton ti sn lu ng chia lm nm loi v c sp xp theo tnh thanh khon t cao n thp nh sau: tin mt, u t ngn hn, khon phi thu, ng trc ngn hn, v hng tn kho. Nh vy r rng tin mt c tnh thanh khon cao nht, lun lun dng c trc tip thanh ton, lu thng, tch tr; cn hng tn kho c tnh thanh khon thp nht v phi tri qua giai on phn phi v tiu th chuyn thnh khon phi thu, ri t khon phi thu sau mt thi gian mi chuyn thnh tin mt. Chng khon c tnh thanh khon l nhng chng khon c sn th trng cho vic bn li d dng, gi c tng i n nh theo thi gian v kh nng cao phc hi ngun vn u t nguyn thy ca ngn hng. Khi la chn chng khon u t, ngn hng dt khot phi xem xt n kh nng bn li trc khi chng o hn ti to ngun vn u t ban u. Nu kh nng ti to km, ngha l kh tm c ngi mua hoc phi bn mt gi, ngn hng s gnh chu nhng tn tht ti chnh ln. V iu ny gi l ri ro thanh khon trong u t chng khon. Nh c th trng chng khon cc nh u t c th chuyn i chng khon h s hu thnh tin mt khi h mun v kh nng thanh khon chnh l mt trong nhng c tnh hp dn ca chng khon vi cc nh u t. Tnh lng cho thy s linh hot v an ton ca vn u t, th trng hot ng cng nng ng v c hiu qu th tnh lng ca chng khon giao dch cng cao. C mi quan h cht ch gia ch s P/E v tnh lng chng khon, nhn vo bng thng k tnh thanh khon ca c phiu, nh u t d dng nhn ra nhng c phiu giao dch si ng nht cng l nhng c phiu c P/E cao hn mc trung bnh ca th trng (c nh gi cao hn cc c phiu c cng li tc). y l nhng chng khon c tc tng gi cao v mang li gi tr thng d cao cho c ng thng qua vic chia tch c phiu hay pht hnh c phiu mi.