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ZF Everyday · 2022年08月23日

关于initiate

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NO.PZ201601200500005005

问题如下:

The implementation of Proposal #4 would most likely signal to Ladan and other investors that future earnings growth can be expected to:

选项:

A.

decrease.

B.

remain unchanged

C.

increase.

解释:

C is correct. Dividend initiations convey positive information and are associated with future earnings growth, whereas dividend omissions or reductions convey negative information and are associated with future earnings problems.

A is incorrect because dividend initiations convey positive information and are associated with an expected increase (not a decrease) in future earnings growth. Dividend omissions or reductions convey negative information and are associated with future earnings problems.

B is incorrect because dividend initiations convey positive information and are associated with an expectation that future earnings growth will increase (not remain unchanged). In contrast, dividend omissions or reductions convey negative information and are associated with future earnings problems.

这道题我也是想了想专门选了C。

课后视频老师讲课说属于常规发放现金股利,所以是利好。我觉得很不解

然而看了其他同学提问,后台老师留言,又专注在“initiate”上。我更晕了。

虽然说了initiate,但是也说是regular,不太理解,到底怎么理解是超过预期的现金分红,还是常规分红?

如果是常规分红,不能算是利好,这个观点对不对?

1 个答案
已采纳答案

王琛_品职助教 · 2022年08月24日

嗨,努力学习的PZer你好:


1

我理解同学可能把 regular 和 expected 搞混了,这是两个不同的角度

regular 是和 special 相对

regular 指的是如果分红,就会一直分红,每年都会分

而 special 是特殊分红,就是可能今年有,明年就没有

2

而 expected 和 unexpected 指的是投资者对分红的预期

如果是超预期的分红,是利好,这个结论没问题

3

但是这道题并不涉及投资者的预期

首先,涉及的是 regular 分红,不是 special 分红

其次,关注的并不是一直在分红的情况;而是之前一直没分红,现在宣布要开始分红 initiate,所以关键词确实是 initiate

考查的就是原版书的一句原文,咱们了解一下即可,也请参考:https://class.pzacademy.com/qa/56473

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就算太阳没有迎着我们而来,我们正在朝着它而去,加油!

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NO.PZ201601200500005005 问题如下 The implementation of Propos#4 woulmost likely signto Lan another investors thfuture earnings growth cexpecteto: A.crease. B.remain unchange C.increase. C is correct. vininitiations convey positive information anare associatewith future earnings growth, wherevinomissions or rections convey negative information anare associatewith future earnings problems.A is incorrebecause vininitiations convey positive information anare associatewith expecteincrease (not a crease) in future earnings growth. vinomissions or rections convey negative information anare associatewith future earnings problems.B is incorrebecause vininitiations convey positive information anare associatewith expectation thfuture earnings growth will increase (not remain unchange. In contrast, vinomissions or rections convey negative information anare associatewith future earnings problems. 如题,M1里讲义里写道The information from vininitiation is ambiguious,那为什么这道题选C呢?如果initiate cash vin预示没有好的投资机会,那也是negative signal吧?请老师解答

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2022-08-05 22:13 1 · 回答

NO.PZ201601200500005005 如题。

2021-12-12 15:19 1 · 回答

NO.PZ201601200500005005  propos4的现金分红,会因为未来投资机会减少吗?未来投资机会少,都分了,那么future earnings growth可能降低吗?

2021-11-27 14:45 1 · 回答