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ruby5ltc · 2023年05月20日

请问C选项错误的原因是?

NO.PZ2022101403000006

问题如下:

Which of the following statements concerning comparable company analysis and comparable transaction analysis is least likely correct?

选项:

A.

The advantage of comparable company analysis is providing a reasonable approximation of a target company’s value relative to similar companies

B.

The disadvantage of comparable company analysis is that it is sensitive to market mispricing.

C.

The analyst can include some pre-announcement increase in the price that may have occurred

解释:

C is correct.

The analyst should exclude any pre-announcement increase in the price that may have occurred because of rumors in the press or speculation

请问C选项错误的原因是?

1 个答案

王琛_品职助教 · 2023年05月22日

嗨,爱思考的PZer你好:


1

因为在公司正式对外发布交易的公告之前,市场上可能已经存在一些传言,存在投机因素,使得股价上涨,因而造成价格失真

所以为了尽可能准确估值,分析师需要排除这些因素

2

也请参考原版书 P314 最后一段

分析师必须注意排除:公告前可能因媒体传言或猜测,而出现的价格上涨

常见的控制方法包括:使用公告前一周的股价,有时甚至更长,特别是如果交易前有持续的谣言;或者使用一周或一个月内的交易量加权平均价格

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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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