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The bifurcation problem is one of the most important subjects in dynamical systems. Motivated by M. Li et al. who used compound matrices to judge the stability of matrices and the existence of Hopf bifurcations in continuous dynamical systems, we obtained some effective methods to judge the Schur stability of matrices on the base of the spectral property of compound matrices, which can be used to judge the asymptotical stability and the existence of Hopf bifurcations of discrete dynamical systems.