Mia Li · 2024年04月12日
* 问题详情，请 查看题干
NO.PZ201601200500005101
问题如下：
Wilson’s share buyback could be a signal that the company
选项：
A.
is decreasing its financial leverage
B.
views its shares as undervalued in the marketplace
C.
has more investment opportunities than it could fund internally.
解释：
B is correct. Management sometimes undertakes share repurchases when it views shares as being undervalued in the marketplace.
Fund internally具体含义请老师解释一下，有点记不清了。
王琛_品职助教 · 2024年04月15日
嗨，爱思考的PZer你好：
1
“Fund internally”，通常是指公司进行投资活动时，使用的是其内部产生的资金，而不是通过外部融资（如发行债券，或增发股票）
内部资金，通常来源于公司的运营活动产生的现金流，一般指留存收益
2
如果有更多好的投资机会，公司可能需要保留现金以便投资，而不是通过股份回购减少现金储备
所以选项 C 说反了
应该是「没有」 investment opportunities
参考的是原版书 P40：一些投资分析师认为回购计划可能意味着，公司没有新的盈利投资机会，从而将现金返还给股东
"a repurchase program could mean that the company has no new profitable investment opportunities and is thus returning cash to shareholders."
----------------------------------------------就算太阳没有迎着我们而来，我们正在朝着它而去，加油！
NO.PZ201601200500005101 问题如下 Wilson’s share buybacoula signththe company A.is creasing its financileverage B.views its shares unrvaluein the marketpla C.hmore investment opportunities thit coulfuninternally. B is correct. Management sometimes unrtakes share repurchases when it views shares being unrvaluein the marketplace. 老师你好，我知道A和C为什么是错的，请问为什么回购股票，投资者会认为市场上股票价格低估呢？请问再哪个知识点呢？
NO.PZ201601200500005101问题如下 Wilson’s share buybacoula signththe company A.is creasing its financileverage B.views its shares unrvaluein the marketpla C.hmore investment opportunities thit coulfuninternally. B is correct. Management sometimes unrtakes share repurchases when it views shares being unrvaluein the marketplace. C是不是应该改成hless investment opportunities thit coulfuninternally?
