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139****0905 · 2024年09月24日

这题c答案能解析下吗?

NO.PZ2024021801000034

问题如下:

Compared to fixed-income investors, equity investors most likely place greater emphasis on ESG factors that affect:

选项:

A.the risk of default. B.growth opportunities. C.balance sheet strength.

解释:

A. Incorrect because fixed-income investors, not equity investors, have more focus on the risk of default. With a greater focus on return of capital and downside protection, fixed-income investors typically place greater emphasis on ESG factors that affect balance sheet strength (and therefore focus more on the risk of default) than equity investors, who are more concerned about growth opportunities because they own a residual claim on issuers’ net profit and assets.

B. Correct because equity investors are more concerned about growth opportunities because they own a residual claim on issuers’ net profit and assets.

C. Incorrect because fixed-income investors, not equity investors, have more focus on ESG factors that affect balance sheet strength. With a greater focus on return of capital and downside protection, fixed-income investors typically place greater emphasis on ESG factors that affect balance sheet strength (and therefore focus more on the risk of default) than equity investors, who are more concerned about growth opportunities because they own a residual claim on issuers’ net profit and assets.

不是说债券因为已经固定未来价值,所以债权人并不关心未来价值吗?

1 个答案

王岑 · 2024年09月24日

嗨,爱思考的PZer你好:


C选项是不正确的,因为固定收益投资者更加关注影响资产负债表强度的ESG因素。固定收益投资者更关注资本的回报和下行风险保护,因此他们通常会更关注影响资产负债表强度的ESG因素(因此更关注违约风险),而股权投资者则更关注增长机会,因为他们拥有发行人净收益和资产的剩余权益。

实际上,固定收益投资者(债权人)非常关心未来的价值,尤其是他们投资的债券的信用风险和违约风险。固定收益投资者投资于债券是为了获得固定的回报(如利息支付)和本金的回报。因此,他们需要评估发行人的财务状况,以确保他们能够按时收到利息和本金。

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