shareholder wealth具体指什么，包括什么？

NO.PZ2016021705000059 问题如下 A company hpositive free cash flow anis consiring whether to use the entire amount of thfree cash flow to pa specicash vinor to repurchase shares the prevailing market price. Shareholrs’ wealth unr the two options will equivalent unless the: A.company’s book value per share is less ththe prevailing market price. B.company’s book value per share is greater ththe prevailing market price. C.tconsequences anor information content for eaalternative is fferent. is correct.For the two options to equivalent with respeto shareholrs’ wealth, the amount of cash stribute the taxation, anthe information content must the same for both options. vin 左边减少cash，右边equity减少equity book value，new stoprice=(pre-vnmarket price-vinper share), totequity book value =bvps*outstanng shares -totvintorepurchase, 左边减少cash, 右边equity 减少equity book value = totbook value - unit prices of storepurchase*number of storepurchase bvps=new equity book value / (pre-repurchase stooutstanng-repurchase number of stock)然后new stoprice=(pre-repurchase market price*stooutstanng-purchase prices*repurchase number of stock)/(pre-repurchase stooutstanng-repurchase number of stock)这个计算方法对不对？

NO.PZ2016021705000059 问题如下 A company hpositive free cash flow anis consiring whether to use the entire amount of thfree cash flow to pa specicash vinor to repurchase shares the prevailing market price. Shareholrs’ wealth unr the two options will equivalent unless the: A.company’s book value per share is less ththe prevailing market price. B.company’s book value per share is greater ththe prevailing market price. C.tconsequences anor information content for eaalternative is fferent. is correct.For the two options to equivalent with respeto shareholrs’ wealth, the amount of cash stribute the taxation, anthe information content must the same for both options. 想请问一下A B 为什么不对呢如果市面上的股价高于公司账面上book value per share， 在这种情况下回购会减少股东的财富

NO.PZ2016021705000059 问题如下 A company hpositive free cash flow anis consiring whether to use the entire amount of thfree cash flow to pa specicash vinor to repurchase shares the prevailing market price. Shareholrs’ wealth unr the two options will equivalent unless the: A.company’s book value per share is less ththe prevailing market price. B.company’s book value per share is greater ththe prevailing market price. C.tconsequences anor information content for eaalternative is fferent. is correct.For the two options to equivalent with respeto shareholrs’ wealth, the amount of cash stribute the taxation, anthe information content must the same for both options. 1.想请问一下这道题怎么理解 翻译的 我是这么理解的 股东的总财富是一直保持不变的除非哪一种种情况下？会导致股东总财富发生改变 请问这么理解对吧2.想请问一下 如果股票回购 回购价格是溢价回购的话（比如说tenr offer或者negotiate） 是会减少股东的价值的吧

NO.PZ2016021705000059问题如下 A company hpositive free cash flow anis consiring whether to use the entire amount of thfree cash flow to pa specicash vinor to repurchase shares the prevailing market price. Shareholrs’ wealth unr the two options will equivalent unless the: A.company’s book value per share is less ththe prevailing market price.B.company’s book value per share is greater ththe prevailing market price.C.tconsequences anor information content for eaalternative is fferent.is correct.For the two options to equivalent with respeto shareholrs’ wealth, the amount of cash stribute the taxation, anthe information content must the same for both options. 前面同学问老师用了一个图片，图片里的例子是股票价格是10元，回购后股票价格不收影响，还是10元，想问一下为什么股票价格不变呢，谢谢

company’s book value per share is greater ththe prevailing market price. tconsequences anor information content for eaalternative is fferent. is correct. For the two options to equivalent with respeto shareholrs’ wealth, the amount of cash stribute the taxation, anthe information content must the same for both options. 这个题我怎么感觉C刚好与答案相反呢？不是说unless，除非应该是TTcg相等啊，答案也是the same，可是C里面写的是ffer啊？