NO.PZ2020021601000020
问题如下：
Judith Yoo is a financial sector analyst writing an industry report.
Part of Yoo’s analysis focuses on Company XYZ, a global commercial bank, and its CAMELS rating, risk management practices, and performance.
Yoo notes the following supplementary information from Company XYZ’s annual report:
■ Competition in the commercial loan space has become increasingly fierce, leading XYZ managers to pursue higher- risk strategies to increase market share.
■ The net benefit plan obligation has steadily decreased during the last three years.
■ Company XYZ awards above- average equity- based compensation to its top managers.
Which of the following supplemental factors is consistent with a favorable assessment of Company XYZ’s financial outlook?
选项：
A.
Competitive environment
B.
Net benefit plan obligation
C.
Equity- based compensation policy
解释：
B is correct.
The net benefit plan obligation has steadily decreased during the last three years, which indicates a lower degree of risk posed by the benefit plan.
想问一下b选项为什么不能说pbo的降低短期来看是降低了负债，但长期来看随着员工工龄的增加pbo总体还是会上升的，pbo的短期下降对于公司盈利的帮助是不可持续的。
而c选项通过股份将员工的利益与公司捆绑在一起，有利于员工长期为公司做出贡献。而且通过股份来奖励短期内不会增加现金的流出，至于未来要不要通过回购股份降低稀释作用那是以后的事。唯一值得说道的是高于评论是否合适，但也可以解释为“重赏之下必有勇夫”。
不太理解这个“正面”的评价的含义。
