问题如下图：
选项：
A. 
B. 
C. 
解释：
想问一下大大这道题和讲义上的分歧哈～讲义上说，tender offer会给大众一个positive signal 以致support stock price。但是buy in the open market怎么会在这道题中support the price呢？
maggie_品职助教 · 2017年09月13日
1、这里和讲义并没有分歧
2、李老师上课明确说了在公开市场回购本公司股票是一个积极信号，可以推高股票价格，请回去仔细听课
3、公司只有在股价被低估时才会买入，因此这样的公开回购会是一个积极的信号
Trust_me_King · 2018年02月03日
那请问老师，选项里说未来五年，这个时间轴拉的太长了吧。一般回购就是要越快执行越好，五年期限，给了公司5年缓冲期，这样真的有助于股价稳定么？我这是出于实战角度问的，和题目本身哪个method无关。
粉红豹 · 2019年01月25日
我也想请问老师：请问老师，选项里说未来五年，这个时间轴拉的太长了吧。一般回购就是要越快执行越好，五年期限，给了公司5年缓冲期，这样真的有助于股价稳定么？
maggie_品职助教 · 2019年01月29日
1、经济周期一般7-10年，5年的周期并不算很长，现在题干说市场处于低谷，那么这个低估周期可能长达好几年，所以回购托股价是一个持续的过程，这符合选项里说的回购是在未来5年逐步执行的。2、如果你一下子全回购了，那后续托股价就没有资金了。回购并不需要越快执行越好，这种托市的操作就应该是循序渐进的才好。
NO.PZ2016021705000058 问题如下 If a company’s objective is to support its stopriin the event of a market wnturn, it woulaiseto authorize: A.open market share repurchase plto executeover the next five years. B.a tenr offer share repurchase a fixeprieffective in 30 ys. C.a tauction tenr offer effective in 30 ys. is correct.Of the three metho, only authorizeopen market share repurchase plallows the company the flexibility to time share repurchases to coinci with share priclines. 如果把in 30 ys换成 in the event of market wnturn是不是B C也是可以
NO.PZ2016021705000058问题如下If a company’s objective is to support its stopriin the event of a market wnturn, it woulaiseto authorize:A.open market share repurchase plto executeover the next five years.B.a tenr offer share repurchase a fixeprieffective in 30 ys.C.a tauction tenr offer effective in 30 ys.is correct.Of the three metho, only authorizeopen market share repurchase plallows the company the flexibility to time share repurchases to coinci with share priclines.想请问一下，我记得老师在上课的时候讲在二级市场买的优势是更灵活，tenr offer是可以支撑股价，因为如果回购价是10.5的话，不会有投资者以低于这个的价格卖出，所以起到了支撑股价的作用。我看了其他提问的解答感觉和我的记忆有不一致的地方，想问一下是我记忆或理解有误吗还是我对这道题理解错了
NO.PZ2016021705000058 问题如下 If a company’s objective is to support its stopriin the event of a market wnturn, it woulaiseto authorize: A.open market share repurchase plto executeover the next five years. B.a tenr offer share repurchase a fixeprieffective in 30 ys. C.a tauction tenr offer effective in 30 ys. is correct.Of the three metho, only authorizeopen market share repurchase plallows the company the flexibility to time share repurchases to coinci with share priclines. 老师，这道题我有两个疑问1. 看解析的意思是只有A最终能在下行市场以低价买入，那B是以溢价到市价这区间的价格来买么？C也是以溢价来买，特殊时期是折价，对么？2.这个30天，定义里也没明确，都是一段时间，怎么讲？
NO.PZ2016021705000058问题如下If a company’s objective is to support its stopriin the event of a market wnturn, it woulaiseto authorize:A.open market share repurchase plto executeover the next five years.B.a tenr offer share repurchase a fixeprieffective in 30 ys.C.a tauction tenr offer effective in 30 ys.is correct.Of the three metho, only authorizeopen market share repurchase plallows the company the flexibility to time share repurchases to coinci with share priclines.1.三种方法区别是否三种方法均有托住股价的作用？2.如有，在执行期限相同的前提下，稳定价格作用有效程度是否有差异？本题B、C是否仅因为期限过短而被排除，如果假设期限也是5年，稳定价格作用和公开市场执行效果是否相同，是否可以选择？还是实务中，邀约回购和荷兰式回购通常都是短期的，稳定价格作用不如公开市场？
NO.PZ2016021705000058 问题如下 If a company’s objective is to support its stopriin the event of a market wnturn, it woulaiseto authorize: A.open market share repurchase plto executeover the next five years. B.a tenr offer share repurchase a fixeprieffective in 30 ys. C.a tauction tenr offer effective in 30 ys. is correct.Of the three metho, only authorizeopen market share repurchase plallows the company the flexibility to time share repurchases to coinci with share priclines. 请问老师B和C有什么区别