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mino酱是个小破货 · 2020年01月30日

问一道题：NO.PZ2016021705000058 [ CFA II ]

  1. CFA II
  2. Corporate Issuers

问题如下图：

选项：

A.

B.

C.

股票数减少，股票价格不会上涨吗？在B项，虽然不是公开市场，但是已固定高价回购，在外发行减少，价格上升，谢谢 解释：

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maggie_品职助教 · 2020年02月07日

1、选项3种回购都会使得股价上升。

2、这道题问的是当市场下跌时，哪个选项的托市效果最好。我们知道每种回购的方法都有它适用的场景。通常公司在股价低迷时为了支撑股价多选择在公开市场进行回购的方式，一是可以节约成本，二是交易可以迅速完成，托市效果比较好。而 tender offer邀约回购，通常是回购量和具体向谁回购都是确定的，这样种方式回购的灵活性大打折扣（不能做到随时需要随时回购），而且成本较高（高于市价回购）。而荷兰式拍卖生效在30天之后，无法启到及时托市的效果。

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