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苏·Xu · 2023年03月12日

equity

  1. CFA I
  2. Equity

NO.PZ2022061307000017

问题如下：

Question

An investor buys a stock on margin. Assume that the interest on the loan and the dividend are both paid at the end of the holding period. The data related to the transaction are as follows:


The investor’s total return on this investment over the margin holding period is closest to:

选项：

A.15.6%. B.16.7%. C.21.4%.

解释：

Solution

C is correct.


所以，按照定义，本题既然股票初始价格是28，购买份额为500份，那根据leverage ratio = 3.33，就可以得到自有资金 = (2.88*500)*1/3.33,而借来的资金 = (2.88*500)*2/3.33... 1/3.33 和 2/3.33 是怎么得出来的？equity 中leverage ratio不是D/E 吗？

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1 个答案

王园圆_品职助教 · 2023年03月12日

嗨，从没放弃的小努力你好：


同学你好，请看以下讲义截图——黄色星星部分，在Equity中，leverage ratio特指总资产/equity的比例，也就是A/E

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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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