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玛卡巴卡123 · 2024年05月11日

这几个Value 老师可以总结一下吗?谢谢

NO.PZ2023032701000003

问题如下:

With respect to the following Statement, which measure of value is most relevant for the analyst of the fund described?

“For its core equity fund, Guardian Capital selects financially sound companies that are expected to generate significant positive free cash flow from core business operations within a multiyear forecast horizon.”

选项:

A.

Liquidation value

B.

Investment value

C.

Going-concern value

解释:

For its core equity fund, Guardian Capital screens its investable universe of securities for well-capitalized companies that are expected to generate significant future free cash flow from core business operations. The concern with future free cash flows implies that going-concern value is relevant.

investment value

fair value

liquidation value

going cern value

1 个答案

王园圆_品职助教 · 2024年05月12日

同学你好,请看以下讲义截图黄色部分,讲义其实已经总结过这部分了

fair value强调了公允的客观的市场价值来买卖资产,investment value一般考虑了synergy或是考虑了投资者的个人主观意愿——这两者是一对对比

liquidation value则强调了是公司清算时候才考虑的,而Going-concern value则是假设公司能够永续经营下去的价值——这两者的对比也是一对