NO.PZ2022122601000026
问题如下：
Identify risks faced by investors in emerging market equities over and above those that are faced by fixed income investors in such markets.
选项：
解释：
In addition to the
economic, political and legal risks faced by fixed income investors, equity
investors in emerging markets face corporate governance risks. Their ownership
claims may be expropriated by corporate insiders, dominant shareholders or the
government. Interested parties may misuse the companies’ assets. Weak
disclosure and accounting standards may result in limited transparency that
favors insiders. Weak checks and balances on governmental actions may bring
about regulatory uncertainty, seizure of property or nationalization.
中文解析：
除了固定收益投资者面临的经济、政治和法律风险外，新兴市场的股权投资者还面临公司治理风险。他们的所有权主张可能会被公司内部人士、占主导地位的股东或政府剥夺。利害关系人可能滥用公司资产。薄弱的信息披露和会计准则可能导致有利于内部人士的有限透明度。政府行为的薄弱制衡可能会带来监管的不确定性、财产被没收或国有化。
The corporation governance risk is the risk faced by equity investors over and above those that are faced by fixed income inverstors in emerging market.
The corporation governance risk occurs when the rights of equity investors over the corporation assets are deprived by the corporation insiders, the dominant shareholders, and the government.
In emerging markets, the legislations over many areas are poor, including property rights, corporation laws, accountance criterion, and restrictions on government involvement in capital market. The poor legislations may cause the corporation governance risk. For example, the government may nationalize the corporation assets, and the accountants may fail to guarantee a trasparent disclosure of the corporation assets.