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Ariel · 2021年02月20日

这句话怎么理解

NO.PZ2018103102000133

问题如下:

Ruby is a researcher in the Merger and Acquisition department of a technology company, which is planning to acquire 65% outstanding shares of an automobile company called DriveSafe. Ruby used the standard valuation method to estimate the value of DriveSafe, but her supervisor Alan told her that she needs to make adjustments to the estimated value from standard valuation method to incorporate impacts from specific issues.

According to the information above, which of the following is related to the adjustment mentioned by Alan?

选项:

A.

Control premium

B.

A lack of marketability discount

C.

Blockage factor

解释:

A is correct.

考点:考察在估值时对一些特殊情况进行调整。

解析:由于Ruby的公司收购了汽车公司65%的股权,因此获得了控制权。由于获得了控制权,需要付一个控制权溢价,需要对这部分进行调整。

Alan told her that she needs to make adjustments to the estimated value from standard valuation method to incorporate impacts from specific issues.

1 个答案

Debrah_品职答疑助手 · 2021年02月21日

嗨,爱思考的PZer你好:


原版书并没有对standard valuation method有一个定义。建议你就可以把这句话看成是,Ruby按照的就是CFA课程里标准的估值方法对DriveSafe进行估值。由于在估值的时候需要根据公司的特殊情况进行一些调整,在这个题目里,Alan告诉Ruby要针对DriveSafe的特殊情况进行调整,那这个特殊情况就是控制权溢价。

这个题目本身不难,同学们可能刚开始做这类题目找不到知识点,见得题目多了,就能很快反应过来考察什么,也就能选出正确答案了,加油。


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