求翻译：上述分析反映了本文模型与Charles、Christopher和Todd(2005)使用者成本模型的另一不同点，即在本文中，我们研究的是租售比与均衡的预期资本收益率之间的关系，而不是真实的预期资本收益率。事实上，真实的预期资本收益率是不可观察的，因此本文模型的优点在于可以避免该问题。从另一方面讲，两个模型又是在一定程度上统一的，因为真实的预期资本收益率与均衡的预期资本收益率从长期来看应该是一致的。是什么意思？

The above analysis reflects a different point of this article the model with charles christopher todd (2005) user cost model, that is, in this article, we study the relationship between the expected rate of return on capital rental ratio and balanced not true expected ROIC. In fact, the true expecte

The above analysis reflects this model and Charles Christopher , and Todd (2005) model of the cost of using a different point, that is, in this article, we study the rental and sales is more than the balance between the expected return on capital, rather than a true return on capital is expected. In

The above analysis had reflected this article model and Charles, Christopher and the Todd(2005) user cost model another diversity, namely in this paper, we study are the sale and rental compared to and the balanced anticipated capital returns ratio between relations, but is not the real anticipated

The above analysis reflects this model and Charles, Christopher and Todd (2005) uses the cost model of a different point, that is, in this article, we looked at was sold or leased and balanced relationship between the expected capital gains rates, rather than the real expected capital gains rate. In

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