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Vivien · 2021年01月17日

问一道题:NO.PZ2018091705000057

问题如下:

John C. Hill, sole owner of JCH Equipment Leasing Co. (JCH), is evaluating a future sale of his company and approaches Mary Keller, a wealth adviser, for advice.

Statement 3:

Hill: I believe the operating enterprise is worth $45 million. There is a good chance that a large acquirer would not want the real estate associated with it.

Keller: I am concerned about the rural location, size, tailored nature of the structure, and the old fuel tanks located behind the warehouse.

Identify what type of investment risk is being discussed by Hill and Keller (systematic or non-systematic) . Justify the choice.

选项:

解释:

Discussion 3 best describes non-systematic risk, or property-specific risk.

It's the risk that the value of a particular property might fall in value because of an event that could affect that property, but not the broader real estate market.

请问这是属于investment risk 里面的property specific risk 嘛?

1 个答案

王暄_品职助教 · 2021年01月18日

“Property-specific risk is the non-systematic risk that is specific to owning a particular piece of real estate.”这是原版书对于property specific risk解释。

根据题干里给的条件,我们可以知道他们在谈关于房产的问题,Keller担心这个warehouse有关的地形、大小,甚至warehouse后面的老汽油厂会影响到房屋价格。

再结合书上对于property specific risk的定义,我们可以得出,他们探讨的问题属于Property-specific risk,也是一个non-systematic risk