NO.PZ2023090506000004
问题如下：
It is true that the capital allocation process:
选项：
A.
involves the use of significant proprietary, non-public information about a company.
B.
aims at identifying projects with the highest absolute non-risk-adjusted rate of returns.
C.
uses less information compared to the process used to construct investment management portfolios.
解释：
A is correct. The capital allocation process is the process used by a firm’s management and board to make capital investment based on both internal, non-public and public information. The process is substantially similar to those used by investors and analysts constructing investment management portfolios but occurs at a more granular level of detail and more in “real time” because insiders do not need to wait for quarterly earnings reports.
B is incorrect because the capital allocation process is used by a firm’s management to deliver superior risk-adjusted returns, when compared to similarly risky investments.
C is incorrect because the capital allocation process is more granular compared to the process used to construct investment management portfolios. The capital allocation process focuses on identifying profitable projects and utilizes proprietary information. The process used to construct investment portfolios involves public information and non-material, non-public information, often at the company and segment level.
请问C选项如何理解？
