NO.PZ2018103102000156
问题如下：
Alan Chin, the chief executive officer of Thunder Corporation, has asked his chief financial officer, 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 company’s senior management has been in charge of the company’s operations for most of the past 15 years and expects to remain in that capacity after any sale . Chin asks Ebinosa whether there will be differences in the process of valuing a private company like Thunder compared with a public company. Ebinosa replies that differences do exist and mentions several factors an analyst must consider. The least likely factor that would be a source of differences in valuing Thunder compared with valuing a publicly traded company is:
选项：
A. access to public debt markets
B. agency problems
C. the size of the company
解释：
B is correct. The size of Thunder and its probable lack of access to public debt markets are potential factors affecting the valuation of Thunder compared with a public company. Given that the separation of ownership and control at Thunder is similar to that at public companies, however, agency problems are not a distinguishing factor in its valuation.
关于A选项的问题，debt融资困难，为什么会rely more on equity financing？老师，对于A项，我看到之前别的同学的提问，给出的回答如图，但是原版书上最后一句话，may rely more on equity financing，private company 怎么rely on equity financing？不是不能发股票吗？
