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锦程Connie · 2020年03月11日

问一道题:NO.PZ2015122802000179 [ CFA I ]

问题如下:

The market value of equity for a company can be calculated as enterprise value:

选项:

A.

minus market value of debt, preferred stock, and short-term investments.

B.

plus market value of debt and preferred stock minus short-term investments.

C.

minus market value of debt and preferred stock plus short-term investments.

解释:

C is correct.

Enterprise value is calculated as the market value of equity plus the market value of debt and preferred stock minus short-term investments. Therefore, the market value of equity is enterprise value minus the market value of debt and preferred stock plus short-term investments.

从理解上来说,为什么要减掉现金和短期投资呢?这个知识点在讲义哪部分呀
1 个答案

maggie_品职助教 · 2020年03月12日

嗨,爱思考的PZer你好:


这是从EV的角度来计算权益的市场价值,EV = market value of common stock + market value of preferred equity + market value of debt– cash and short-term investments。

请参考讲义207页:


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