老师好，可以麻烦讲一下参与型和非参与型优先股的各自特点吗？谢谢

问题如下：

Participating preference shares are least likely to entitle the shareholders to participate in:

选项：

A.additional distribution of the company’s assets upon liquidation. B.corporate decisions through voting rights. C.additional dividends if the company’s profits exceed a predetermined level.

解释：

Solution

1. Incorrect. Participating preference shares entitle the shareholders to participate in additional distribution of the company’s assets upon liquidation, above the par.

2. Correct. Participating preference shares do not entitle the shareholders to participate in corporate decisions through voting rights. But they do entitle them to (1) an additional dividend if the company’s profits exceed a prespecified level and (2) additional distribution of the company’s assets upon liquidation, above the par.

3. Incorrect. Participating preference shares entitle the shareholders to participate in additional dividend if the company’s profits exceed a pre-specific level.

Overview of Equity Securities

• describe differences in voting rights and other ownership characteristics among different equity classes