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uuu柚子 · 2025年07月06日

为什么不选B

NO.PZ2025022501000065

问题如下:

Which of the following companies would most likely be valued with the lowest discount rate?

选项:

A.A mature company with strong ESG practices

B.A high-growth technology company operating in emerging markets

C.A coal producer that is judged to have a negative environmental impact

解释:

A is correct because companies with strong ESG practices could be seen as less risky, allowing for a lower discount rate. A higher (lower) discount rate leads to, all else equal, a lower (higher) estimate of intrinsic value.

B哪里错了?A为什么对

1 个答案

净净_品职助教 · 2025年07月07日

嗨,从没放弃的小努力你好:


相对于A选项中成熟公司,投资B选项新兴市场的高成长型公司往往具有比较高的风险,因此对其进行估值时,应该给一个比较高的折现率。

第七章水印讲义P49:

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努力的时光都是限量版,加油!

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