1. Trang chủ
  2. » Tài Chính - Ngân Hàng

MUTUAL BANKS AND STOCK BANKS ERIC RASMUEN docx

38 230 0
Tài liệu đã được kiểm tra trùng lặp

Đang tải... (xem toàn văn)

Tài liệu hạn chế xem trước, để xem đầy đủ mời bạn chọn Tải xuống

THÔNG TIN TÀI LIỆU

Thông tin cơ bản

Tiêu đề Ngân Hàng Tương Tự Và Ngân Hàng Chứng Khoán
Trường học Trường Đại học Kinh tế Quốc dân
Chuyên ngành Ngân hàng và Thị trường Tài chính
Thể loại Báo cáo tốt nghiệp
Năm xuất bản 2023
Thành phố Hà Nội
Định dạng
Số trang 38
Dung lượng 267,93 KB

Các công cụ chuyển đổi và chỉnh sửa cho tài liệu này

Nội dung

Trang 1

|@* @?!t @?_ 5|LU! @?!t

,hU +@t4ti?

M*ti_ @tG R5|LU! @?!t @?_ |@* @?!tc aLh?@* Lu w@ @?_ ,UL?L4UtEU|LMih bHHc G bDe22

-L zrxog olnh wr wkdqn Khqu| Kdqvpdqq/ Gdylg Kluvkohlihu/ Mrkq Zloh|/ Urqdog

Pdvxolv/ Pdxuhhq R*Kdud/ Euhww Wuxhpdq/ dqg sduwlflsdqwv lq wkh XFOD Vordq Zrunvkrs iru khosixo frpphqwv/ dqg Wlprwk| Rsohu iru uhvhdufk dvvlvwdqfh1

Trang 2

 W?|hL_U|L?

|@* @ttLU@|L?t @hi tL4i|?} Lu @? L |) ? @ U@T|@*t| iUL?L4)c M|

|i) @i *L?} Mii? t}?€U@?| ? M@?!?} ? |i N?|i_ 5|@|it |@*t@?}t M@?!tc Uhi_| ?L?tc @?_ 4Lt| t@?}t @?_ *L@?t @hi 4|@* @ttLU

@|L?tc *i ?@|L?@* M@?!tc t|@|i M@?!tc |ht| UL4T@?it @?_ tL4i t@?}t

@?_ *L@?t @hi t|LU! UL4T@?it2 W ** hiuih |L |i |L U@|i}Lhit @t 4|@*M@?!t @?_ t|LU! M@?!t

Ai _gihi?Ui Mi|ii? 4|@* @?_ t|LU! M@?!t *it ? L UL?|hL*t |iM@?! @?_ hiUiit |i ThL€|t  t|LU! UL4T@?) t L?i_ M) t|LU!L*_ihtc

L L|i uLh |i €h4<t 4@?@}ihtc _t|hM|i |t ThL€|tc @?_ @hi uhii |L ti**

|ih Th*i}it #iTLt|Lht @hi 4ihi*) Ut|L4iht  4|@* @ttLU@|L? tRL?i_ M) |t _iTLt|Lhtc M| ?L| UL?|hL**i_ M) |i4 t W _tUtt Mi*Lc

|i 4@?@}iht @hi igiU|i*) ti*uUL?|hL**?}c *4|i_ L?*) M) }Lih?4i?| ?

|ihi?|L? W? t@?}t @?_ *L@? @ttLU@|L?t Eihi@u|ih U@**i_ 5:w<t @?_Uhi_| ?L?tc i@U _iTLt|Lh @t |i h@hi*)i ihUti_ h}| |L L|i uLh |i4@?@}iht Lu |i M@?! W? 4|@* t@?}t M@?!tc @|Lh3i_ ? L?*) tii?

|ii? t|@|it E?U*_?} |i i ,?}*@?_ t|@|it @?_ i vLh!c |i _iTLt|Lht

*@U! ii? |i €U|L? Lu UL?|hL*c t?Ui |i) *@U! |i h}| |L L|i #iTi?_

?} L? t|@|i *@c |i ML@h_ Lu |ht|iit |@| UL?|hL*t |i €h4 t i|ih ti*uTihTi|@|?} Lh i*iU|i_ M) @ ti*uTihTi|@|?} RML@h_ Lu ULhTLh@|Lht Ai

|ht|iit< UL?|hL* t ?L| @MtL*|ic t?Ui M*@|@?| @h4 |L |i _iTLt|Lht< ?|ihit|t UL*_ ThLL!i *i}@* @U|L?c M| _iTLt|Lht U@??L| L|ihti ?i?Ui |i

€h4<t TL*U) i UiT| M) |_h@?} |ih u?_t

5?Ui |i 4@?@}iht Lu @ 4|@* U@??L| Mi T?ti_ M) t|LU!L*_ihtc |i)

@hi ?*!i*) |L 4?43i |i ULt| Lu M@?!?} tihUit hiLt t|_it @i

?L|i_ |tc @?_ ti_ u@Lh@M*i }Lih?4i?| hi}*@|L? |L i T*@? |i UL?|?i_

i t|i?Ui Lu 4|@*te Ai 4Lhi _U*| ^it|L? t ) 4|@*t Lhti_MiuLhi |i i #i@*c @?_ |@| t |i ^it|L? @ hitti_ ? |t T@Tih

`i t@** tii |@| |i 4|@* M@?! U@? Mi i T*@?i_ @t @ ti*ui?uLhU?}UL?|h@U| ? U 4@?@}iht ThL_i *Lht! M@?!?} tihUit |L h@|L?@* M|

**?uLh4i_ t@iht L @hi ht!@ihti @?_ ?ThL|iU|i_ M) _iTLt| ?th@?Ui

 t|LU! M@?! UL*_ ThL_i M@?!?} tihUit @| *Lih ULt|c M| UL*_ ?L|}@h@?|ii |i @tti| TLh|uL*L<t t@ui|) Wu _iTLt|Lht @hi ?@M*i Lh ?**?}

|L 4L?|Lh |i TLh|uL*Lc |i) Thiuih @ 4|@* M@?! MiU@ti |i 4@?@}iht

@i t|hL?}ih ?Ui?|it |L ULLti @ t@ui TLh|uL*LG |i Tt_i }@?t Lu |i4|@* 4@?@}iht @hi *4|i_ M) *i}@* UL?t|h@?|t L? |ih UL4Ti?t@|L?c



Trang 3

*i u |i M@?!t u@*c |i) *Ltit @ *ui|4i Lu } ?UL4i Ai ih) *@U! LuULt|4?43@|L? M) 4|@* 4@?@}iht 4@!it |i4 ULLti @ t@uih TLh|uL*L5iU|L? 2 i T*@?t ) i L*_ ?L| i TiU| 4|@*t |L 4?43i ULt|t5iU|L? ti|t L| @ uLh4@* 4L_i* ? U _iTLt|Lht Thiuih |i 4|@* M@?!5iU|L? e _tUttit @*|ih?@|i i T*@?@|L?t uLh 4|@* M@?!tc @?_ 5iU|L? D_tUttit |i t|LhU@* i_i?Ui

2 Ai #t@_@?|@}it Lu |@* ttLU@|L?t

|@* @?_ t|LU! UL4T@?it _gih ? |i ?Ui?|it }i? |L |i |hii }hLTtQL?ihtc Ut|L4ihtc @?_ 4@?@}ihtQ Lti ?|ih*LU!?} UL?|h@U|t 4@!i T |i

€h4 ,UL?L4t|t t|_)?} |iti UL?|h@U|t @i UL?Ui?|h@|i_ L? 4@?@}iht<

?Ui?|it ? t|LU! UL4T@?itc U @hi }*) iUi?|D Ai t|LU!L*_iht

hi 4@?@}iht |L ti** €?@?U@* tihUit |L |i _iTLt|Lht Wu @ _iTLt|Lh _Lit

?L| *!i |i M@?!<t tihUit Lh ThUitc i t|Uit |L @ UL4Ti||Lh Wu @ 4@?

@}ih t *itt |@? UL4Ti|i?|c |i t|LU!L*_iht *Lih t t@*@h) Lh hiT*@Ui 4

Wu L?ihtT t |LL _gti_ uLh ?__@* t|LU!L*_iht |L Mi **?} |L i Ti?_igLh| |L _tUT*?i |i 4@?@}ihc L?i t|LU!L*_ih U@? M) i?L} t@hit uhL4

|i L|iht |L 4@!i |i _tUT*??} ThL€|@M*i |L 4ti*u Ai t|LU!L*_iht

i TiU| 3ihL ThL€|tc @_t|?} uLh ht!c M| u |i M@?! i@h?t 4Lhi Lh *ittc

|i) U*@4 |i hit_@* @?_ UL?t4i Lh t@i | @t |i) T*i@ti i?} hit_@*U*@4@?|t }it |i4 ?Ui?|i |L i?thi |@| |i €h4 4?43it |t ULt|t

@?_ ThL_Uit |i iUi?| L|T|

`*i |i _iTLt|Lht Lu @ 4|@* @ttLU@|L? 4@) Mi *i}@**) |ih4i_Rt@hiL*_ihtc @ 4|@* @ttLU@|L? igiU|i*) @t ?L t|LU!L*_ihtc MiU@tiL?*) |i 4@?@}iht i ih| t}?€U@?| ?i?Ui Lih |i @ttLU@|L?<t TL*UitAi 4@?@}iht ti** €?@?U@* tihUit |L |i _iTLt|Lht #iTLt|Lht U@? t|U

|L @?L|ih M@?!c M| |i) U@??L| _tUT*?i |i 4@?@}ihtc @?_ |i) @hi ?L|hit_@* U*@4@?|t ? |i t@* ti?tic MiU@ti |i M@?!<t i@h??}t 4@) Mii|ih }hi@|ih Lh t4@**ih |@? |i ?|ihit| T@)4i?|t ThL4ti_ |L |i4Ai 4|@* 4@?@}ih<t ?Ui?|it @hi _gihi?| uhL4 |Lti Lu t t|LU!M@?! UL?|ihT@h|c uLh i UL**iU|t ?L| L?*) t 4@h}?@* ThL_U|c M| @*tL @}hi@|ih Lh *ittih @4L?| Lu RTih!tc |i |L|@* UL4Ti?t@|L? _iTi?_?} L? |iM@?!<t hitLhUit @?_ |i |hi@| Lu *i}@* @U|L? Ai 4@?@}ih 4t| T@) |i_iTLt|Lht |i ThL4ti_ ?|ihit|c M| i t L|ihti uhii |L LTih@|i |i €h4

@t i T*i@tit hiLt t|_it tU @t |Lti Lu UL*t @?_ <O@h@ @i ?L|i_

2

Trang 4

|t @?_ ?it|}@|i_ |i _gihi?Uit ? |i Mi@Lh Lu 4@?@}iht Lu 4|@*t

@?_ t|LU!tSAi ThLM*i4 t t4*@h |L |@| Lu 4@?@}ih@* UL?|hL* ? ?L?ThL€|

€h4tc U @t Mii? @?@*)3i_ M) ,@t*i) : <O@h@ @?_ O@?t4@??.Ai 4|@* 4@?@}ih _Lit ?L| UL?|hL* |i €h4 t4T*) MiU@ti L?ihtT t _gtic uLh |t t @*tL |hi Lu 4Lt| t|LU! UL4T@?itH `@| t 4Lhi

4TLh|@?| t |@| ?L ?__@* U@? UL?Ui?|h@|i L?ihtT Lu @ 4|@* M)ThU@t?} |i _gti_ t@hit Ai 4@?@}ih t uhii_ ?L| M) |i @Mti?Ui

Lu UL?Ui?|h@|L?c M| M) |i @Mti?Ui Lu |i |hi@| Lu UL?Ui?|h@|L? Lh t

|i ThL ) €}|c @ tiUL?_ 4i@?t Lu UL?Ui?|h@|?} |i TLih Lu _gti t|LU!

L*_ihtc @@*@M*i |L |i 4|@* _iTLt|Lht W? @ t|LU! UL4T@?) |i 4@?LMt|@U*i |L @ ThL ) €}| t |i *@U! Lu ?Ui?|i uLh @?) L?i |L i Ti?_ |i hitLhUit |L Lh}@?3i |c M| ? 4|@* M@?!t |i ThLM*i4 t ii? 4Lhi tiihiAi _iTLt|Lht Lu @ 4|@* t@?}t M@?! *@U! @ *i}@* L|ic *i ?ULLTih@|i _iTLt|Lht Lu @? 5:w U@? Mi i Ti**i_ M) |i 4@?@}ihtc @ Th@U|Ui

|it|i_ ? bDHc i? @ t@hiL*_ih L hi^it|i_ @ *t| Lu L|ih t@hiL*_ihttLh|*) MiuLhi |i @??@* 4ii|?} @t hiuti_ |i *t| @?_ hiu?_i_ t _iTLt| Oi i?| |L ULh|c @?_ *Lt|b 5U _h@t|U @U|L? M) 4@?@}iht t h@hicMiU@ti t@hiL*_iht h@hi*) |h) |L ti |ih L|it Ai Thit_i?| Lu L?i 5@?

#i}L 5:w @_4||i_ |@| ?L L?i @_ |h?i_ T @| @??@* 4ii|?}t ? |h|))i@htcf @?_ @ b t|_) Lu 4|@* ?th@?Ui uL?_ |@| |i TihUi?|@}i LuTL*U)L*_iht L|?} ? i*ii? 4@Lh UL4T@?it @hi_ uhL4 f2 |L 2D

Wu |i 4@?@}ih Lu @ 4|@* u@Ui_ ?L UL?t|h@?|tc |i 4|@* M@?! L*_Mi@i *!i @ Th@|ic 4@?@}ihL?i_ M@?! W?iUi?U) @htit ?L| MiU@ti

|i 4@?@}ih t uhii uhL4 L|t_i UL?|hL*c M| MiU@ti i t T@h|*) UL?t|h@?i_M) |i *@ Wu i ihi uhii |L T| t t@*@h) |L @?) *ii*c hi }Lt| 4@?@}ihtc

@?_ ti** t@hit ? t t@*@h) |L L|t_ihtc |i? |i 4|@* @ttLU@|L? L*_

Mi ?L _gihi?| uhL4 @ t|LU! UL4T@?) 5?Ui i _Lit u@Ui *i}@* UL?t|h@?|tc

|i 4@?@}ih<t UL4Ti?t@|L? |@!it ?iUi?| uLh4t @?_ i t ?L| t4T*)

|i hit_@* U*@4@?| Ai UL?t|h@?| ?ii_ ?L| Mi @?)|?} tL t4T*i @t

@ UL4Ti?t@|L? U@T ,i? u |i UL?t|h@?| t @ ThLM@M*|) Lu ThLtiU|L?}h@_@**) ?Uhi@t?} | |i t3i Lu UL4Ti?t@|L?c Lh ?Uhi@t?} ULt|t LuULih?} T **i}@* @U|L?tc |i 4@?@}ih t t|** ?L| @ hit_@* U*@4@?| @? Lit ?L| hiUii |i u** @*i Lu @? i |h@ _L**@h Lu M@?! ThL€|t wi}@* @U|L?

@}@?t| 4@?@}iht Lu 4|@*t t ?UL44L?c M| _Lit LUUh LUU@tL?@**)2Ai *i}@* t|@|t Lu |i 4@?@}iht Lu 4|@* t@?}t M@?!t @t Mii? ?U*i@hcM| i|ih |i) @hi hi}@h_i_ @t |ht|iit Lh @t @}i?|t uLh |i _iTLt|Lhtc

|ih @U|L?t @hi *i}@**) UL?t|h@?i_

Trang 5

W ti |i |ih4 RTih!t uLh |i _gihi?Ui Mi|ii? @ 4|@* 4@?@}ih<tUL4Ti?t@|L? @?_ t 4@h!i| @}i Ai 4Lt| t|h@}|uLh@h_ @?_ iUi?|uLh4 Lu Tih! t @? i Uitti t@*@h)c M| Tih!t ?ii_ ?L| Mi 4L?i|@h) 6h?}iMi?i€|tc T*i@t@?| Lh!?} UL?_|L?tc ?iTL|t4c @?_ @ *L 4@?@}ih@* igLh|

*ii* @*tL ?Uhi@ti |i ULt|t Lu |i M@?!c *i @ 4@?@}ih<t *L@?t |L uhi?_t Lh

€h4t ? U i @t @? ?|ihit| hi_Ui |i M@?!<t i TiU|i_ hi|h? ?L|ihTih! t |i ?uLh4@|L? |@| @ M@?! 4@?@}ih @U^hit ? |i ULhti Lu t_|it Ai iUi?U) 4T*U@|L?t Lu |t Tih! @hi ?L| U*i@hc M| u MLhhLiht

L*_ Mi h| M) |i *i@!@}i Lu ?uLh4@|L? @ML| |ih *L@?tc |i) **hi^hi |i ?|ihit| h@|i |L Mi *Lih Lt| Tih!t @hi ?iUi?| MiU@ti |i)

h| |i M@?! 4Lhi |@? |i) Mi?i€| |i 4@?@}ih( ML| L*_ Mi?i€| M)hiT*@U?} |i Tih! | @? ?Uhi@ti ? U@t @}ite

 Tih! | itTiU@**) 4TLh|@?| 4T*U@|L?t uLh iUi?U) t |i LM}i? |L @? ?UL4Ti|i?| 4@?@}ih Oi U@??L| |h@_i t LM uLh U@t Lh hitL4iL?i |L TihuLh4 |t _|itc @*|L} i L*_ ThL€| uhL4 i|ih Lu |iti

@*|ih?@|it Oi hi|@?t |i LMc @?_ i? L? hi|h?} i }it | @@)c i t4Lhi *!i*) |L }i | |L @ uhi?_ Lh hi*@|i |@? |L @ UL4Ti|i?| i iU|iD

|@*t @i |i uh|ih _t@_@?|@}i |@| |i) U@??L| UL4Ti?t@|i |ih4@?@}iht M@ti_ L? |i t|LU! ThUi ,i? @ t|LU! M@?! 4@) @i _U*|)

? ?_U?} 4@?@}iht |L ?_ih|@!i |i iUi?| igLh| @?_ ht!c M| | U@?

ti t|LU!M@ti_ UL?|h@U|t |L U@?}i |i 4@?@}ih<t ?Ui?|itc ihi@t |i_iTLt|Lht Lu @ 4|@* M@?!c *4|i_ |L @UUL?|?} _@|@ ThiT@hi_ M) 4@?

@}i4i?|c @i _U*|) ii? !?L?} |i 4@?@}ih<t T@t| TihuLh4@?Ui Ait|LU! M@?! @t |i uh|ih @_@?|@}i |@| MiU@ti tTiU*@|L? t TLttM*i ?

|t t|LU!c L|t_i @?@*)t|t ** Mi@h |i ULt|t Lu @U^h?} ?uLh4@|L? @ML|4@?@}ih@* TihuLh4@?Ui @?_ *i@! |i ?uLh4@|L? |L |i 4@h!i|c i|ih M)

??|i?|L?@* h4Lht Lh M) 4L?} |i t|LU! ThUi

ih!t @i 4T*U@|L?t uLh |i 4@?@}ih<t ULUi Lu TLh|uL*L W? @ t|LU!M@?!c |i t|LU!L*_iht U@? _it}? |i 4@?@}ih<t UL4Ti?t@|L? |L i?ULh@}i

4 |L |@!i @?) *ii* Lu ht! |i) _ithi W? @ 4|@*c |i 4@?@}ih<t *ui|4i

L Lu Tih!t t T@h| Lu t i@*|c M| MiU@ti | t ?_iht€i_ i t @ihti

|L €h4tTiU€U ht! W? @ |L?c MiU@ti t Tih!t @hi U@TTi_ M) @? 4T*U|

*i}@* *4|c i @t L?*) i@! ?Ui?|it |L ?Uhi@ti |i M@?!<t ThL€|tAi TLttM*|) Lu @ ?} |L |i M@?!<t hitihit 4L_ih@|it |i 4@?@}ih<t_t?U*?@|L? |L ?Uhi@ti M@?! hii?it ,i? u |i 4@?@}ih U@??L| |@!i4Lhi |@? @ *4|i_ @4L?| Lu Tih!t ? @ }i? )i@hc i U@? @ |L hitihit

e

Trang 6

h@|ih |@? ?Uhi@t?} |i ?|ihit| h@|i |L _iTLt|Lht +itihit i*T |i4@?@}ih ? |L @)tG M) hi_U?} |i ht! Lu M@?!hT|U)c @?_ M) t4LL|?}

|i L Lu Tih!t E 4TLh|@?| u i 4@) Mi *^_|)UL?t|h@?i_ | u @4@?@}ih t !iiT?} @ hitihi |L ThL|iU| @}@?t| ht!c i ** Mi hi*U|@?| |L

?Uh ht! |L ?Uhi@ti |i hitihitS

vi| @?L|ih ThLM*i4 t t|@h|?} @ 4|@* ? |i €ht| T*@Ui W?|@* U@T

|@* U@??L| Mi h@ti_ M) @ t|@?_@h_ t|LU! Lgih?}c tL |i €ht| 4@?@}ih 4t|tTT*) tii_ U@T|@* Lh ?Uh |i ULt| Lu @ UL4T*i tL*U|@|L? Lu ?|@* _iTLt|Lht Oi U@? hi@T @ hi|h? @ Tih!tc M| |i hi|h? t *4|i_ L? |iTLt|i t_i

?Ui |i t)t|i4 t ? T*@Uic _iTLt|Lht @hi @*@)t uhii |L t|U |L @ t|LU!M@?!c tL |i ThUi @?_ ThL_U| Lu |i 4|@* 4t| Mi t| @t @||h@U|i u |i

|L uLh4t ULi t| Ai 4|@*<t ULt|t @hi }ihc M| |t ?|ihit| h@|i 4t|

Mi |i t@4ic tL | U@?L| thi ?_i€?|i*) |L| tL4i UL?|ih@*?}

@_@?|@}i

 4Lhi uLh4@* 4L_i* Lu |i ti| Lu UL?|h@U|t Mi|ii? |i 4@?@}ihc _iTLt|Lhtc

@?_ EuLh t|LU! M@?!t t|LU!L*_iht t tiu* |L _t|?}t |i UhU@* ui@|hit

Lu |i ThLM*i4 5?Ui |i 4L_i* t iht|U h@|ih |@? |iLhi4ThL?}c WThiti?| | @t @ ?4ihU@* i @4T*i

L?t_ih |L t)t|i4tc UL44ihU@* M@?!?} @?_ 4|@* M@?!?}c i@UUL?tt|?} Lu @ *@h}i ?4Mih Lu UL4Ti|?} M@?!t Lu @ t?}*i Lh}@?3@|L?@*

|)Ti Ai 4@?@}ih ULLtit Mi|ii? |i |hii ?it|4i?| ThLiU|t ? A@M*i

G @ t@ui ThLiU| | @ ?| hi|h? Lu 2( @ ht!) ThLiU| Lti hi|h? t

| i^@* ThLM@M*|) i|ih H Lh .( @?_ @ M@_ ThLiU| Lti hi|h? t

| i^@* ThLM@M*|) i|ih  Lh H

W?tih| A@M*i W?__@*t @hi Lu |L |)TitG |i ht!@ihtic L4 i @tt4i @hi ?

**?} |L @UUiT| @?) @ |L?@* ht! |L ?Uhi@ti |ih i TiU|i_ ?UL4ic @?_

|i ht!?i|h@* Ai t|LU!L*_iht @hi ht!?i|h@*c *i |i 4@?@}ih @? iTLt|Lht @hi ht!@ihti Ai _iTLt|Lht _iTLt| |ih i?|hi i@*| f ' 2f

? |i M@?! uLh L?i TihL_

D

Trang 7

| |i Mi}???} Lu |i TihL_ |i t|LU!L*_iht Lu |i t|LU! M@?! ULLti

@ U@T|@* hitihic U t @@*@M*i @| |i i?_ Lu |i TihL_ |L T@) |iThL4ti_ ?|ihit| |L _iTLt|Lht Ai t|LU! M@?!<t 4@?@}ih 4@!it _iUtL?t

U 4@ 43i |i |*|) Lu |i t|LU!L*_iht | |i i?_ Lu |i TihL_

|i 4@?@}ih t T@_ t UL4Ti||i*) _i|ih4?i_ @}i h@|ic U t fD

|4it |i @4L?| ?|@**) ?it|i_ #iTLt|Lht @hi T@_ @? @4L?| E nof

U t _i|ih4?i_ M) UL4Ti||L? Mi|ii? M@?!t Ai t|LU!L*_iht hi|@?

@|iih u?_t @hi *iu| @u|ih T@)?} |i 4@?@}ih @?_ |i _iTLt|Lht

Ai 4@?@}ih Lu |i 4|@* M@?! 4@!it _iUtL?t U 4@ 43i t L?

|*|) Wu |i hii?i uhL4 |i ThLiU| t tUi?|c i t T@_ ?L| L?*) |i

@}i fDfc M| @*tL @? @4L?| Lu Tih!t  ' Dc ihi  t _i|ih4?i_ L|t_i |i 4L_i* M) |i |hi@| Lu *i}@* Ti?@*|it #iTLt|Lht @hi T@_ E n of

u |i ThLiU|<t hii?i t tUi?|c ihi o t _i|ih4?i_ M) UL4Ti||L? Mi

|ii? |i 4|@* M@?!t ?) u?_t hi4@??} @u|ih _iTLt|Lht @?_ 4@?@}iht

@hi T@_ t T| ? @ hitihi @?_ ?iih T@_ L|

 Ai W?uLh4i_ #iTLt|Lh L_i*

`i ** *LL! @| |L ihtL?t Lu |i 4L_i*c U _gih ? |ih ?uLh4@|L?t|hU|hi W? |i W?uLh4i_ #iTLt|Lh L_i*c |i 4@?@}ih 4t| TU! @ ThLiU|

@?_ |h|u**) @??L?Ui | MiuLhi ThLTLt?} @? ?|ihit| h@|i |L _iTLt|LhtAi ti^i?Ui Lu @U|L?t t

 Ai 4@?@}ih ULLtit @ U@T|@* hitihi @?_ @ ThLiU|

2 Ai 4@?@}ih Lgiht @? ?|ihit| h@|i |L _iTLt|Lht

 Ai ThLiU|<t L|UL4i t LMtihi_

e Ai 4@?@}ih |@!it t Tih!t E ? @ 4|@* M@?!

D Ai _iTLt|Lht @hi T@_ |ih ?|ihit|c @?_ |i 4@?@}ih t t@*@h) Wu

|i M@?! @tti|t @hi ?tUi?|c |i) @hi __i_ ? ThLTLh|L? |L |it3i Lu |i _iM|t

S Ai t|LU!L*_iht hiUii |i hit_@* ThL€|t E? @ t|LU! M@?!

Ai t|LU!L*_iht< ThL€|4@ 43?} TL*U) t |L _hiU| |ih 4@?@}ih |LULLti |i ht!) ThLiU| @?_ @ U@T|@* hitihi Lu 2 Ai M@?! UL4Ti|it uLh

S

Trang 8

_iTLt|Lht M) Lgih?} |i4 E n of ' dDEH n DE.o2f  fDE2f ' 2ec

U U@? Mi T@_ hi}@h_*itt Lu |i tUUitt Lu |i ThLiU| Wu |i ThLiU|u@*tc |i M@?!<t @tti|t i^@* HE2 n HE2f ' 2DSc Lu U S t T@_ |L

|i 4@?@}ihc @?_ 2e |L |i _iTLt|Lht Wu |i ThLiU| tUUii_tc |i @tti|ti^@* .E2 n .E2f ' Deec Lu U S t T@_ |L |i 4@?@}ihc 2e |L |i_iTLt|Lhtc @?_ 2HH |L |i t|LU!L*_iht Ai t|LU!L*_iht< i TiU|i_ ?|hi|h? t 2c tL |i iUL?L4U ThL€|t @hi 3ihL

Ai t@ui ThLiU| L*_ ?L| Tih4| |i M@?! |L 4@?|@? 3ihL ThL€|t *iLgih?} _iTLt|Lht |i t@4i ?|ihit| h@|i  *Lih *ii* Lu U@T|@* L*_ _hi

@@) |i _iTLt|Lht M) ?|hL_U?} @ TLt|i ThLM@M*|) Lu M@?!hT|U)5@hiL*_ih<t U@T|@* t t4*@h |L _iTLt| ?th@?Ui MiU@ti | @**Lt_iTLt|Lht |L Mi hiT@_ ii? u |i M@?!<t ?it|4i?|t @hi ?tUUittu*.

@?) t|@|it @i hi^hi_ |@| M@?! t|LU! tTiUu) _LM*i *@M*|)c ?_ih

U TihtL?t L*_?} t|LU! _h?} tL4i *i}@* |4i *4| MiuLhi |i u@*hi

Lu |i M@?! 4t| UL?|hM|i T |L |i T@h @*i Lu |i t|LU!c Lih @?_ Mi)L?_

|i ThUi |i) Lh}?@**) T@_ #LM*i *@M*|) hi_Uit |i ht! |L _iTLt|Lhtii? uh|ihc @?_ *!i _iTLt| ?th@?Ui | _Lit ?L| hi^hi |i t|LU!L*_iht

|L |i T i |h@ U@T|@* ? |i M@?! i UiT| ? i4ih}i?UitH

W? |i 4|@* M@?!?} t)t|i4c |i 4@?@}ih ULLtit |i t@ui ThLiU| @?_Lgiht _iTLt|Lht E n of ' 2f  fDf   ' 2D LLt?} |i ht!)ThLiU| L*_ i TLti 4 |L |i ht! Lu *Lih UL4Ti?t@|L?c MiU@ti u |iThLiU| u@*i_ |i M@?!<t @tti|t Lu S  D E|i Tih!t @?} @*hi@_) Mii?

|@!i? L*_ @i |L Mi tT*| Mi|ii? |i _iTLt|Lhtc Li_ @| *i@t| 2fc @?_

|i 4@?@}ihc Li_  ,i? u |i 4@?@}ih ihi **?} |L @UUiT| |i ht!c |i_iTLt|Lht L*_ ?L| Mi **?} At |i ?|ihit| h@|i ? |i 4|@* t)t|i4

t *Lih |@? ? |i t|LU! t)t|i4 uLh |L hi@tL?tG |i Tih!t @hi _i_U|i_ @?_

|i t@ui ThLiU| t @_LT|i_ ?t|i@_ Lu |i ht!) ThLiU| Ai t|LU! M@?! T@)t

@ }ih h@|i Lu ?|ihit| |L| Mi?} @?) ht!ih uLh _iTLt|Lht Lh 4@?@}ihtc

|i t|LU! M@?!t ? L?i Lu |L @)t Oi UL*_ @_LT| |i ht!) ThLiU|c |

|i @||i?_@?| ht! |@| @ tihit Lu hiihtit UL*_ _iT*i|i |i hitihit ^U!*)

@?_ |i !?L*i_}i |@| hi_U?} |i hitihit M) @? i TiU|i_  i@U TihL_

Trang 9

** ii?|@**) _iT*i|i |i4 @?)@) h i UL*_ @_LT| |i t@ui ThLiU|cT@)?} _iTLt|Lht |i 4@h!i| ?|ihit| h@|i M) _h@?} uhL4 |i hitihit @t

i** @t |i ?it|4i?| ?UL4ic tL |@| |i _@|i M) U |i hitihit @hi

i @t|i_ t U*Ltih M| @t *Lih @h@?Ui |@? ?_ih |i TL*U) Lu ULLt?}

|i ht!) ThLiU| W? i|ih U@ti |i 4|@* M@?! u@*t ? |i *L?} h?

Wu |i 4|@*t Mi}@? | hitihit tUi?| |L ThL|iU| |i _iTLt|Lhtc

@?_ |ih 4@?@}iht ULti ht!) ThLiU|t @?_ hiuh@?i_ uhL4 |@!?} Tih!tc |i4|@*t UL*_ thi UL4Ti||L? uhL4 |i t|LU! M@?!tc M| |i 4|@*4@?@}ih @t ?L ?Ui?|i ?L| |L |@!i Tih!t Wu i |@!it Tih!tc t M@?! **ii?|@**) u@* @?_ i *Ltit t Th*i}i_ TLt|L?c M| u i _Lit ?L| |@!iTih!tc |@| Th*i}i_ TLt|L? t ti*itt |L 4c ?L Mi||ih |@? @ t|LU! 4@?

@}ih<t LM Ai L?*) hi@tL? ?L| |L |@!i Tih!t ?L t |L ?Uhi@ti UL?t4T|L?

Lu Tih!t ? |i u|hic U t ?L| tL4i|?} |i 4@?@}ih Lu @ 4|@* ? @4 i_ t)t|i4 U@? *LL! uLh@h_ |L

Ai i @4T*i i*U_@|it @?L|ih TL?| U U@tit tL4i UL?utL?G i|ih__i?_t L}| |L Mi UL?t_ihi_ @? i Ti?ti Lu |i t|LU! M@?!c i^@*i?|

|L |i Tih!t Lu |i 4|@* M@?! Ai t|LU! M@?! _Lit T@) __i?_t i^@*

? i TiU|@|L? |L 2eE2 ' 2HH ? |i i @4T*i M| |i hii?i |L T@) |i__i?_t t }i?ih@|i_ M) |i U@T|@* @?_ _Lit ?L| _4?t |i i@h??}t Lu

|i _iTLt|Lht *|L} @ t|LU! M@?! T@)t L| 4Lhi |L ?L?_iTLt|Lht |@?_Lit @ 4|@*c |i t|LU! M@?! @*tL @t 4Lhi @tti|t

?|* bD2 4|@* t@?}t M@?!t @?_ 4|@* 5:w<t ihi ?L| tMiU| |L 6i_ih@* ULhTLh@|i ?UL4i |@ c @?_ ?|* bS2 @ M@_ _iM| ThLtL? !iT| |ih

|@ it ?i@h 3ihL2b 6Lh 4@?) )i@ht 5:w<t ihi ?L| tMiU| |L +i}*@|L? "c

|i TTih *4| L? M@?! _iTLt| ?|ihit|c @?_ ii? @u|ih |i W?|ihit| +@|i

_t|4i?| U| Lu bSS @t T@tti_c 5:w<t ihi @**Li_ @ h@|i 2D TihUi?|

}ih |@? UL44ihU@* M@?!t

Ai 5:w<t i T@?_i_ |ih 4@h!i| t@hi _h?} |t TihL_c @*|L} |ihit|hU|L?t L? i?|h) Thii?|i_ h@_U@* U@?}i 5|LU! 5:w<t }hi u@t|ihc |ih4@h!i| t@hi ?Uhi@t?} uhL4  TihUi?| Lu |L|@* 5:w @tti|t ? bDD |L efTihUi?| ? bH  f UL*t @h}it |@| |i 6Ow ti| @? ?uLh4@* ?|ihit|h@|i Ui*?} uLh 5:w<t ii? MiuLhi bSSc i?uLhUi_ M) |i ?**?}?itt Lu |i6Ow |L 4@!i @_@?Uit |L 5:w<t |@| Lgihi_ } ?|ihit| h@|itc @ TL*

U) U uh|ih hit|hU|i_ |i tULTi Lu |i 4Lhi iUi?| t|LU! UL4T@?it ,@h*ih @?!?} +i}*@|L?G Lh|uL*L +it|hU|L?t @?_ Nth) w@t6hL4 |i i@h*it| _@)t Lu 4|@* M@?!tc tL4i t|@|i }Lih?4i?|t @ihit|hU|i_ M@?! TLh|uL*Lt |L @ *4|i_ @hi|) Lu hi*@|i*) t@ui @tti|t i



Trang 15

vLh!c uLh i @4T*ic ?|@**) hi^hi_ 4|@* t@?}t M@?!t |L ?it| ? ivLh! @?_ N5 }Lih?4i?| _iM| Lh UL44ihU@* M@?! _iTLt|tc @*|L} |i

*@ @t tLL? hi*@ i_ |L @**L L|ih !?_t Lu }Lih?4i?| _iM| L| ?|*

€u|ii? )i@ht @u|ih |i €ht| U@h|ih ihi 4Lh|}@}i *L@?t @**Li_ 2 Wu 4|@*M@?!t @hi t|hU|hi_ tL |@| 4@?@}iht L*?|@h*) ULLti UL?tih@|i ?

it|4i?|tc ) __ |i }Lih?4i?| ?|ihi?iq `) UL*_ t|LU! M@?!t ?L|

*LMM) uLh t4*@h *@t |L UL?t|h@? |i4ti*it |L ULLti t@ui TLh|uL*Ltq

| €ht|c t|@|i }Lih?4i?|t 4@) ?L| @i hi@*3i_ |@| 4|@* M@?!t

L*_ Mi t@ui Lh|}@}it ihi tLL? @**Li_ ? |i TLh|uL*Lc M| t?Ui 4Lh|}@}it U@? Mi ht!) @?_ hi^hi 4@?@}ih@* _tUhi|L?c @ M@?! UL?t|h@?i_ |LL? L?*) 4Lh|}@}it 4}| L? @ ih) ht!) TLh|uL*L i|ih t|@|i *i}t*@

|L? ?Lh h|?} tU @ hit|hU|L? ?|L |i ULhTLh@|i U@h|ih UL*_ }@h@?|ii

|@| |i M@?! @t @ t@ui ?it|Lh

?L|ih i T*@?@|L? @htit MiU@ti }Lih?4i?|t Lu|i? i M@?!t @t ?t|||L?t U i t| |L M) }Lih?4i?| _iM| +it|hU|?} 4|@*t |L L?t|@|i ML?_t *Liht |i ?|ihit| h@|i |i t|@|i 4t| T@)c @?_ *i @**L?}4Lh|}@}it _Lit ?L| i*T |i }Lih?4i?| _hiU|*)c | Mi?i€|t *LU@* MLhhLihtc

@?_ i?Ui 4}| Mi @||h@U|i |L *i}t*@|Lht Lh|uL*L hit|hU|L?t ihi tiu* |L i vLh! 6Lh 4Lhi |@? @ _iU@_i Ai @?! uLh 5@?}t @t M) u@h

|i *@h}it| L*_ih Lu |i t|@|i<t ,hi @?@* _iM|c @| L?i |4i L*_?} |h|)TihUi?| Lu |i i?|hi tti 6hL4 Hb |L H  Lih @*u Lu |i M@?!<t @tti|t

ihi ? i vLh! U@?@* ML?_t w@U! Lu _iht€U@|L? @t L?i hi@tL? |i

@?! uLh 5@?}t *LMMi_ uLh U@?}it ? |t U@h|ih |L @**L |ti*u |L L*_4Lh|}@}it e

5|@|i th) *@t @hi @*tL TL|i?|@**) 4TLh|@?| `i @i @*hi@_) _tUtti_ |i i #i@* _iTLt| ?|ihit| h@|i Ui*?}tc M| 4@?) t|@|it @_

@*hi@_) 4TLti_ Ui*?}t L? |i *L@? ?|ihit| h@|it Wu |i Ui*?}t ihi M?_

?}c ht!ih *L@?t L*_ Mi h@|L?i_ L| Lu |i 4@h!i| @?_ |i *L@?t Lu t|LU!M@?!t L*_ ?L| Mi 4U ht!ih |@? |Lti Lu 4|@*t LhiLihc Lu|i?4|@* 5:w<t ihi i i4T| uhL4 th) *@tc U ? b2 i t|i_ ? @** M|

€i t|@|itc | ?|ihit| *4|t @h)?} uhL4 t |L |i*i TihUi?| @?_ @ _ih@?}i Lu Ti?@*|itc Lu U uLhui|hi Lu @** ?|ihit| @t |i 4Lt| UL44L? D,_i?Ui t ?L| i@t*) @@*@M*i |L |it| |i 4TLh|@?Ui Lu th) *@tc M| W

@i ?L| tii? |i4 4i?|L?i_ @t @ tLhUi Lu UL4Ti||i @_@?|@}i uLh 4

|@*t ? @?) Lu |i tLhUit W UL?t*|i_c @?_ |i *i}@* t|@|t Lu |i 4|@*t<

th) i i4T|L? @t _MLt S

e

Trang 16

Nth) *@t ihi i?uLhUi_ hhi}*@h*)c @?_ ihi ?L| _U*| |L i@_i W?

bSc uLh i @4T*ic |i 4@ 44 h@|it Lu ?|ihit| @**Li_ ? Lh| @hL*?@

@?_ 5L| @hL*?@ ihi S @?_ H TihUi?|c M| |i @ih@}i h@|it L? @}hU*|h@* *L@?t hiTLh|i_ M) M@?!t |L @? iUL?L4t| t|_)?} th) ihi SS

@?_ H TihUi?| ,i? |iti ihi ?L| |i |hi h@|itc @?_ @ ?} ? R_tUL?|tc ML?titc @?_ @?) L|ih i |h@ U@h}it |i h@|it MiU@4i f2 @?_

fD TihUi?|

5|_)?} @? i@h*ih TihL_c w@?Ui #@t uL?_ |@| |i @ih@}i ?|ihit|h@|i U@h}i_ M) 4|@* t@?}t M@?!t ? i ,?}*@?_ uhL4 Hef |L HSf @tDH TihUi?|c UL4T@hi_ |L |i SS TihUi?| U@h}i_ M) UL44ihU@* M@?!t HOt

i T*@?@|L? t |@| 4|@*t LMi)i_ th) *@t *i UL44ihU@* M@?!t uL?_

@)t @hL?_ |i4 ) LMi)?}c 4|@* 4@?@}iht UL*_ ULLti L L*_hiUii |i *L@?t @| |i *L *i}@* h@|i @?_ @L_ |i TihtL?@* ?UL?i?i?Ui

Lu }i||?} @hL?_ |i *@t Ai N??uLh4i_ #iTLt|Lh L_i* @ t @ |h_hi@tL?G |i 4@?@}iht ihi ?L| ?|ihit|i_ ? €?_?} @)t |L 4@!i ht!ih

*L@?t @| }ih ?|ihit| h@|it

? 4TLh|@?| T@h| Lu |i N??uLh4i_ #iTLt|Lh L_i* t |@| _iTLt|Lht

@hi ?@M*i |L 4L?|Lh |i M@?! TLh|uL*Lc t?Ui L|ihti |i) t| |_h@

|ih _iTLt|t i? |i M@?! ?it|t ? @ TLh|uL*L |LL ht!) uLh |ih |@t|itc

|i uLh4 Lu UL?|hL* t}}it|i_ M) 6@4@ @?_ ai?ti?

Ngày đăng: 29/03/2014, 08:20

🧩 Sản phẩm bạn có thể quan tâm