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Fate Chain · 2020年02月13日

老师,为何不选C呢

问题如下:

Alan Chin, the CEO of Thunder Corporation, has asked his CFO, Constance Ebinosa, to prepare a valuation of Thunder for the purpose of selling the company to a private investment partnership. Thunder has been in business for 15 years and is privately owned by the original shareholders, none of whom are employed by the company. The partnership has expectations about Thunder similar to the current shareholders and management of Thunder. These investors expect to hold Thunder for an intermediate period of time and then bring the company public when market conditions are more favorable than currently. Chin is concerned about what definition of value should be used when analyzing Thunder. Given Chin’s concerns, the most appropriate defnition of value for Tunder is:   

选项:

A.

intrinsic value   

B.

investment value   

C.

fair market value   

解释:

A is correct. Both the current shareholders and the future shareholders (the private investment group) share the same expectations. It is most reasonable to assume that both are concerned with Thunder’s intrinsic value, which market prices should reflect when the company is brought public under less volatile market conditions. 


fair value 是标准的一个价值类型吧 公允价值 出售,感觉没啥问题呢

1 个答案

maggie_品职助教 · 2020年02月14日

1、这道题是咱们基础班讲义的例题,可以去听一下(讲义330页)

2、fair market value 是市场的公允价格(没有任何阻碍在市场交易的价格,这个选项就是打酱油的),而intrinsic value是股票的内在价值。对于这道题来说,作为非上市公司的投资者,它选择在没上市之前就进入的目的就是看好这家公司未来发展潜力,等到公司上市后可以套现。公司未来上市的价格体现的是股票的内在价值。

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