NO.PZ201512020300000301
问题如下:
1. Based on Hansen’s regression, the predicted initial return for the upcoming IPO is closest to:
选项:
A.0.0943.
B.0.1064.
C.0.1541.
解释:
C is correct.
The predicted initial return (IR) is:
IR = 0.0477 + (0.0150 × 6) + (0.435 × 0.04) – (0.0009 × 40) + (0.05 × 0.70) = 0.1541
Pre-offer price adjustment (Expressed as a decimal),表示成百分数,应该是4,而不是0.04