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霏云之下 · 2023年05月20日

A.为什么不对

NO.PZ2022072501000003

问题如下:

Qualitative analysts and portfolio managers seek to integrate their qualitative investment opinion by incorporating:

选项:

A.

Negative screening.

B.

Quantitative adjustments to financial models and valuations.

C.

Qualitative measures only.

D.

None of the above.

解释:

解析:

选项B正确。投资小组在做ESG定性分析时,通常会有三个程序。他们首先会分析ESG数据来形成自己的观点,然后将这些观点和财务分析结合起来,最后会将最终观点以量化的方式来调整财务模型中的假设,完成整合工作。

Qualitative ESG analysis typically involves three procedures.

First, investment teams analyse ESG data to form their opinion on the ability of the firm to manage certain ESG issues.

Second, they combine this opinion with their financial analysis by linking specific aspects of the company’s ESG risk management strategy to different value drivers (such as costs, revenues, profits and capital expenditure requirements.

Third, analysts and portfolio managers then seek to integrate their opinion in a quantified way in their financial models by adjusting assumptions used in the model, such as growth, margins or costs of capital.

如果企业出现争议事件,比如石油公司向海里排污,在负面筛选时就直接剔除,这用到了人为分析,为什么不属于定性分析呢?

1 个答案
已采纳答案

Tina_品职助教 · 2023年05月22日

嗨,从没放弃的小努力你好:


这里是问定性分析师和组合基金经理如何来整合他们的定性投资观点,包括如何将定性的判断反应在估值、对公司发展的判断等等。在步骤上,就会将这些观点和定量的方式结合,反映在分析的结果上。

负面筛选仅仅是一种决策的方法,涵盖面较窄。而且分析师不一定进入决策层面,而仅仅是提供对公司或债券的分析研究。本题问的在方法流程上的普遍性,所以B选项是这类分析方法最后比较关键的一个步骤。

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