开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

cpaesg · 2023年07月14日

不懂不懂

NO.PZ2022120703000066

问题如下:

Which of the following analyst adjustments would best account for a company's weak environmental management policy?

选项:

A.Apply an impairment charge on stranded assets

B.Increase the P/E ratio used to determine the company's valuation

C.Decrease the cost of capital used in a discounted cash flow model

解释:

A is correct because "adjustments can be made directly to the balance sheet or capital expense lines.… A forecast ESG impairment event, e.g. a sub-standard factory, may result in an impairment charge being made to bring the company’s book value down." Stranded assets are "assets that are at risk of facing severe impairment because of regulatory or environmental change."

B is incorrect because the analyst should decrease the premium. "An investor may only be prepared to invest in a company with, for example, a 50% discount on a PE ratio versus an index benchmark because the company is judged to have a high ESG risk."

C is incorrect because the analyst should increase the cost of capital. "For example, a company’s environmental management processes and policies are judged strong or weak. After this judgment, the cost of capital used to discount cash flows in a DCF analysis is adjusted down or up by 1% to account for this.… A higher cost of capital would lead – all other factors being equal – to a lower intrinsic value estimate from the model."

不懂自己喜欢的东西给自己一个交代

1 个答案

净净_品职助教 · 2023年07月15日

嗨,努力学习的PZer你好:


题目问的是以下哪一项分析调整最能解释公司环境管理政策薄弱的原因?首先明确环境管理政策薄弱会导致公司估值下降,因此要选择选项中降低估值的调整。B,C都是调高,因此不选。

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

  • 1

    回答
  • 0

    关注
  • 433

    浏览
相关问题

NO.PZ2022120703000066问题如下 Whiof the following analyst austments woulbest account for a company's weenvironmentmanagement policy? A.Apply impairment charge on stranassetsB.Increase the P/E ratio useto termine the company's valuationC.crease the cost of capitusein a scountecash flow mol A is correbecause \"austments cma rectly to the balansheet or capitexpense lines.… A forecast ESG impairment event, e.g. a sub-stanrfactory, mresult in impairment charge being ma to bring the company’s book value wn.\" Stranassets are \"assets thare risk of facing severe impairment because of regulatory or environmentchange.\"B is incorrebecause the analyst shoulcrease the premium. \"investor monly prepareto invest in a company with, for example, a 50% scount on a PE ratio versus inx benchmark because the company is jueto have a high ESG risk.\"C is incorrebecause the analyst shoulincrease the cost of capital. \"For example, a company’s environmentmanagement processes anpolicies are juestrong or weak. After this jument, the cost of capituseto scount cash flows in a F analysis is austewn or up 1% to account for this.… A higher cost of capitwoulle– all other factors being equ– to a lower intrinsic value estimate from the mol.\" 搁浅资产的费用可以我公司环境政策薄弱吗?怎么理解?搁浅资产主要是由于环境因素引起的,吗?

2024-01-22 22:05 1 · 回答

NO.PZ2022120703000066问题如下 Whiof the following analyst austments woulbest account for a company's weenvironmentmanagement policy? A.Apply impairment charge on stranassetsB.Increase the P/E ratio useto termine the company's valuationC.crease the cost of capitusein a scountecash flow mol A is correbecause \"austments cma rectly to the balansheet or capitexpense lines.… A forecast ESG impairment event, e.g. a sub-stanrfactory, mresult in impairment charge being ma to bring the company’s book value wn.\" Stranassets are \"assets thare risk of facing severe impairment because of regulatory or environmentchange.\"B is incorrebecause the analyst shoulcrease the premium. \"investor monly prepareto invest in a company with, for example, a 50% scount on a PE ratio versus inx benchmark because the company is jueto have a high ESG risk.\"C is incorrebecause the analyst shoulincrease the cost of capital. \"For example, a company’s environmentmanagement processes anpolicies are juestrong or weak. After this jument, the cost of capituseto scount cash flows in a F analysis is austewn or up 1% to account for this.… A higher cost of capitwoulle– all other factors being equ– to a lower intrinsic value estimate from the mol.\" 可以下B 为啥不对么?

2024-01-06 20:43 1 · 回答

NO.PZ2022120703000066 问题如下 Whiof the following analyst austments woulbest account for a company's weenvironmentmanagement policy? A.Apply impairment charge on stranassets B.Increase the P/E ratio useto termine the company's valuation C.crease the cost of capitusein a scountecash flow mol A is correbecause \"austments cma rectly to the balansheet or capitexpense lines.… A forecast ESG impairment event, e.g. a sub-stanrfactory, mresult in impairment charge being ma to bring the company’s book value wn.\" Stranassets are \"assets thare risk of facing severe impairment because of regulatory or environmentchange.\"B is incorrebecause the analyst shoulcrease the premium. \"investor monly prepareto invest in a company with, for example, a 50% scount on a PE ratio versus inx benchmark because the company is jueto have a high ESG risk.\"C is incorrebecause the analyst shoulincrease the cost of capital. \"For example, a company’s environmentmanagement processes anpolicies are juestrong or weak. After this jument, the cost of capituseto scount cash flows in a F analysis is austewn or up 1% to account for this.… A higher cost of capitwoulle– all other factors being equ– to a lower intrinsic value estimate from the mol.\" 他是前半句increase PE ratio的做法是对的,但是termine the company value这句话是不对应的对吗?因为在E的weakness代表,价值就会下降了。。。是因为这个吗?

2023-11-09 17:32 3 · 回答

NO.PZ2022120703000066问题如下 Whiof the following analyst austments woulbest account for a company's weenvironmentmanagement policy? A.Apply impairment charge on stranassetsB.Increase the P/E ratio useto termine the company's valuationC.crease the cost of capitusein a scountecash flow mol A is correbecause \"austments cma rectly to the balansheet or capitexpense lines.… A forecast ESG impairment event, e.g. a sub-stanrfactory, mresult in impairment charge being ma to bring the company’s book value wn.\" Stranassets are \"assets thare risk of facing severe impairment because of regulatory or environmentchange.\"B is incorrebecause the analyst shoulcrease the premium. \"investor monly prepareto invest in a company with, for example, a 50% scount on a PE ratio versus inx benchmark because the company is jueto have a high ESG risk.\"C is incorrebecause the analyst shoulincrease the cost of capital. \"For example, a company’s environmentmanagement processes anpolicies are juestrong or weak. After this jument, the cost of capituseto scount cash flows in a F analysis is austewn or up 1% to account for this.… A higher cost of capitwoulle– all other factors being equ– to a lower intrinsic value estimate from the mol.\" A是什么意思?麻烦翻译讲解一下

2023-10-31 08:17 1 · 回答