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shirley_hd · 2020年01月06日

问一道题:NO.PZ2019012201000026

问题如下:

A fund invests in firms that have strong business models and good governance. And if the fund is an activist investing strategy, which of the following is least like to boost the shareholder value?

选项:

A.

Engaging with management by writing letters to management, calling for and explaining suggested changes, and participating in management discussions with analysts or meeting the management team privately.

B.

Increasing management compensation or keeping management compensation with share price performance.

C.

Launching legal proceedings against existing management for breach of fiduciary duties.

解释:

C is correct.

考点:Activist Strategies and Other Strategies

解析: 首先这个fund投资的都是经营比较好而且有比较好的公司治理结构的标的。对于Activist Strategies,主要的目的是在现有基础上,作为公司的长期投资者,提升公司的经营和股东价值。 所以不太可能采用激进的方式投资在C选项描述的公司治理有问题的公司上。

有关A有个问题,公司不是已经很牛了么?还需要投资者跟着做这些事情吗?自己应该都可以做到吧?

1 个答案
已采纳答案

maggie_品职助教 · 2020年01月07日

公司是股东的公司啊,股东有话语权,A基金作为公司的股东选择的是积极的参与策略。

粉红豹 · 2020年01月08日

但是请教maggie老师,这个公司如果本来管理层管的很好了,股东过来掺和捣乱,岂不是负面的效果?讲义中也有这个知识点、

maggie_品职助教 · 2020年01月08日

基金在参与投资起初就约定好了,他会进行积极参与。这里是想得太多了,捣乱对于他们没有任何好处。咱们不需要自己去假设。

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