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186****7190 · 2021年11月30日

该题考点没明白,主要考核的是什么考点

NO.PZ2021091701000012

问题如下:

Catherine Ndereba is an energy analyst tasked with evaluating a crude oil exploration and production company. The company previously announced that it plans to embark on a new project to drill for oil offshore. As a result of this announcement, the stock price ran up by 10%. After conducting her analysis, Ms. Ndereba concludes that the project does indeed have a positive NPV. Which statement is true?

选项:

A.

The stock price should remain where it is because Ms. Ndereba’s analysis confirms that the recent run-up was justified.

B.

The stock price should go even higher now that an independent source has confirmed that the NPV is positive

C.

The stock price could remain steady, move higher, or move lower.

解释:

C is correct. There are many factors that can affect the stock price, including whether Ms. Ndereba’s analysis indicates that the project is more or less profitable than investors expected.

该题考点没明白,主要考核的是什么考点

1 个答案

王琛_品职助教 · 2021年12月01日

嗨,努力学习的PZer你好:


1

考点是 NPV 和股价

我们介绍了理论和实际两种情况,这道题考查的是实际的情况,即股价反应的是投资者的「预期」

2

假设项目的 NPV 是 50 万,是大于 0

但是如果投资者的预期是,应该产生 NPV 100 万,相当于没有达到投资者的预期(50 < 100),那股价不仅不会涨还会跌

题目背景中,虽然分析师评估的结果,是项目的 NPV 大于 0,但是并没有说明投资者的预期是多少,和项目的 NPV 的大小比较关系如何,所以我们无从判断股价的变化,所以选 C

也请参考基础班课程

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