问题如下图:
选项:
A.
B.
C.
这题用1.09*0.4/0.51也得到这个答案 可以吗NO.PZ201512300100000406 老师这种题目什么时候需要对β进行auste=unauste2/3+1/3*1
NO.PZ201512300100000406 老师好 2022 年改了, 这类题目是否11月考的还是 忽略tax? 谢谢
NO.PZ201512300100000406 我看提问里面,大家引用的答案是没有考虑1-t的,答案是选B。怎么现在答案又重新考虑了1-t呢?有些混乱了。
NO.PZ201512300100000406 0.85. 0.89. C is correct. The steps to estimating a beta for a non-tracompany are: Step 1 Selethe comparable benchmark Step 2 Estimate benchmark’s beta Step 3 Un-lever the benchmark’s beta Step 4 Lever the beta to reflethe subjecompany’s financileverage The beta of the benchmark peer company ta is given 1.09. Next, this beta nee to unlevere calculateas: βu=[11+((1−t))]βl\beta_u=\left[\frac1{1+\left(\left(1-t\right){\splaystyle\fr}\right)}\right]\beta_lβu=⎣⎢⎢⎢⎡1+((1−t)E)1⎦⎥⎥⎥⎤βl βu=[11+((1−0.3)0.60.4)]1.09=0.532\beta_u=\left[\frac1{1+\left(\left(1-0.3\right)\frac{0.6}{0.4}\right)}\right]1.09=0.532βu=[1+((1−0.3)0.40.6)1]1.09=0.532 The beta of the benchmark peer company ta is given 1.09. Next, this beta nee to unlevere calculateas: lβE′=[1+(1−t)E′]βu{l}\beta'_E=\left[1+\left(1-t\right)\frac{}{E'}\right]\beta_u\\lβE′=[1+(1−t)E′]βu lβE′≈[1+(1−0.3)(0.490.51)](0.532)=0.889{l}\\\beta'_E\approx\left[1+\left(1-0.3\right)\left(\frac{0.49}{0.51}\right)\right]\left(0.532\right)=0.889lβE′≈[1+(1−0.3)(0.510.49)](0.532)=0.889 请问老师,本题是否应该考虑tax的因素呢。
请问这是哪个reang的考点,又忘了李老师的推算过程了,返工复习。。