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

返回

Maggiesmile · 2023年10月12日

operating leverage

  1. CFA I
  2. Corporate Issuers

NO.PZ2022090802000012

问题如下：

Which of the following is most likely to increase a business's operating leverage?

选项：

A.Reducing prices B.Borrowing rather than issuing equity C.Using casual labor rather than a salaried work force

解释：

Solution

A is correct. Reducing prices decreases the business's margin, and as such, it increases its sensitivity to changes in demand, revenue, and costs and its operating leverage. The choice between debt and equity financing has no bearing on operating leverage, although it should be noted that interest expenses on debt are contractually determined payments, while dividends are discretionary payments. Using casual labor rather than a salaried work force reduces the fixed employee expenses, which reduces operating leverage.

你好，本题里的公式咋哪里呢，能否把讲义那页贴出来谢谢

添加评论
1 个答案

王琛_品职助教 · 2023年10月13日

嗨，爱思考的PZer你好：


1

这道题是 M3 商业模型的课后题 12 题

还有第 13 题，这两道题我个人认为出的不好，不建议深究

因为内容方面，和 M8 杠杆衡量有重复，但是考查角度又不同

关于杠杆的考查，建议均以 M8 杠杆衡量章节介绍的角度为准即可

2

同学所说的公式，请参考基础班讲义墨迹版 P403

3

关于选项 A 的分析，推荐从定性角度分析，也请参考：https://class.pzacademy.com/qa/114825

----------------------------------------------
就算太阳没有迎着我们而来，我们正在朝着它而去，加油！

  • 1

    回答

  • 0

    关注

  • 349

    浏览
相关问题

NO.PZ2022090802000012 问题如下 Whiof the following is most likely to increase a business's operating leverage? A.Recing prices B.Borrowing rather thissuing equity C.Using casulabor rather tha salariework for SolutionA is correct. Recing prices creases the business's margin, ansuch, it increases its sensitivity to changes in man revenue, ancosts anits operating leverage. The choibetween anequity financing hno bearing on operating leverage, although it shoulnotethinterest expenses on are contractually terminepayments, while vin are scretionary payments. Using casulabor rather tha salariework forreces the fixeemployee expenses, whireces operating leverage. gree of Operating Leverage = Q(P - VC)/(Q(P-V- FC)，那我用casulabor的话，我VC变小了呀，所以Q(P - VC)变大了，不选C是因为L一定小于1吗？（小于1的分子分母同时加一个常数，分数变大）

2023-10-12 08:50 2 · 回答

NO.PZ2022090802000012 问题如下 Whiof the following is most likely to increase a business's operating leverage? A.Recing prices B.Borrowing rather thissuing equity C.Using casulabor rather tha salariework for SolutionA is correct. Recing prices creases the business's margin, ansuch, it increases its sensitivity to changes in man revenue, ancosts anits operating leverage. The choibetween anequity financing hno bearing on operating leverage, although it shoulnotethinterest expenses on are contractually terminepayments, while vin are scretionary payments. Using casulabor rather tha salariework forreces the fixeemployee expenses, whireces operating leverage. 如题，为什么c不对

2023-05-01 17:01 2 · 回答

NO.PZ2022090802000012问题如下Whiof the following is most likely to increase a business's operating leverage?A.Recing pricesB.Borrowing rather thissuing equityC.Using casulabor rather tha salariework forceSolutionA is correct. Recing prices creases the business's margin, ansuch, it increases its sensitivity to changes in man revenue, ancosts anits operating leverage. The choibetween anequity financing hno bearing on operating leverage, although it shoulnotethinterest expenses on are contractually terminepayments, while vin are scretionary payments. Using casulabor rather tha salariework forreces the fixeemployee expenses, whireces operating leverage.如题。。。。。。。。。。

2023-03-15 09:09 2 · 回答

NO.PZ2022090802000012 问题如下 Whiof the following is most likely to increase a business's operating leverage? A.Recing prices B.Borrowing rather thissuing equity C.Using casulabor rather tha salariework for SolutionA is correct. Recing prices creases the business's margin, ansuch, it increases its sensitivity to changes in man revenue, ancosts anits operating leverage. The choibetween anequity financing hno bearing on operating leverage, although it shoulnotethinterest expenses on are contractually terminepayments, while vin are scretionary payments. Using casulabor rather tha salariework forreces the fixeemployee expenses, whireces operating leverage. L= Q(P−VC)−FCQ(P−VC)​ P减少，Q增加，为什么L就上升了，麻烦详细分析一下

2022-12-19 12:00 1 · 回答