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hhjinghh · 2024年08月26日

这道题怎么理解?

NO.PZ2024030503000096

问题如下:

Question

An analyst gathers the following information about a bond:

The approximate convexity of this bond is closest to:

选项:

A.only its competitors.

B.only its historic margins.

C.both its competitors and its historic margins.

解释:

Solution
  1. Incorrect because Porter’s five forces framework and similar analytical tools can help analysts assess the relative profit potential of a company by helping analysts estimate whether profit margins are likely to be relatively high or low (relative to historical profit margins and relative to competing companies).

  2. Incorrect because Porter’s five forces framework and similar analytical tools can help analysts assess the relative profit potential of a company by helping analysts estimate whether profit margins are likely to be relatively high or low (relative to historical profit margins and relative to competing companies).

  3. Correct because Porter’s five forces framework and similar analytical tools can help analysts assess the relative profit potential of a company by helping them understand the company’s industry and its position within that industry. Understanding the industry and competitive contexts of a company helps analysts estimate whether, for example, sales growth is likely to be relatively high or low (relative to history, relative to the overall growth in the economy or a sector, and/or relative to competing companies) and whether profit margins are likely to be relatively high or low (relative to historical profit margins and relative to competing companies).

Introduction to Financial Statement Modeling

这道题解释是什么意思,没太明白

1 个答案

lynn_品职助教 · 2024年08月27日

嗨,努力学习的PZer你好:


 The approximate convexity of this bond is closest to:


题目问债券的凸度与什么接近,结合选项是说和它的历史数值接近还是和它的竞争者接近,


解析的意思是因为波特的五力框架和类似的分析工具可以帮助分析师通过了解公司的行业及其在该行业中的地位来评估公司的相对利润潜力。


其实就是纵向横向比较来预估各项数值


了解一家公司的行业和竞争环境有助于分析师估计,例如,销售增长是否可能相对较高或较低(相对于历史、相对于经济或行业的整体增长和/或相对于竞争公司),以及利润率是否可能相对较高或较低。


下图就是五力模型



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