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大宁410 · 2021年03月07日

老师 这道题不明白,是哪个考点?该怎么理解?

NO.PZ2016091001000005

问题如下:

CC Inc. invests $350,000 in a new project. The present value of the future after-tax cash flows from this new project is $750,000. CC Inc. now has 400,000 shares of common stock outstanding. If this new project is aiming at new service and has no relevance to other expectations about CC Inc.  After taking the project, by what amount will the stock price change?

选项:

A.

The stock price will decrease $1.00

B.

The stock price will increase $1.00

C.

The stock price will increase $1.875

解释:

B is correct.

The NPV of the new project is $750,000 - $350,000 = $400,000. This value is increased in CC Inc.'s market value.

To each per-share stock, the increase is worth $400,000/400,000=$1.00

老师 这道题不明白,是哪个考点?该怎么理解?

1 个答案

王琛_品职助教 · 2021年03月08日

嗨,爱思考的PZer你好:


- 这道题的考点是 Impact of NPV Rule and Stock Price

- 可以把项目的 NPV 看成是股票市值的变动,如果 NPV > 0,股票市值增加

- 请参考基础班讲义 P41-P42 的原理及例题哈

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