开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

闫旭 · 2021年12月19日

视频中讲dividend可以影响资本结构呀

  1. CFA I
  2. Corporate Issuers

NO.PZ2021091701000021

问题如下：

Which of the following is least likely to affect the capital structure of Longdrive Trucking Company? Longdrive has moderate leverage today.

选项：

A.

The acquisition of a major competitor for shares

B.

A substantial increase in share price

C.

The payment of a stock dividend

解释：

C is correct. Stock dividends, like stock splits, have no impact on the value of a company’s equity. Issuing shares to acquire a competitor would increase equity relative to debt in the capital structure. Share price appreciation would also increase the market value of equity, thus increasing equity relative to debt.

视频课中有讲，若要offset de-leverage，最好采取回购，因为回购比分红更灵活、税更低，但是分红也可以影响D/E比例呀，为啥这道题不选C？
添加评论
1 个答案

王琛_品职助教 · 2021年12月20日

嗨，努力学习的PZer你好：


分红有多种形式，比如现金分红 cash dividend，股票分红 stock dividend，两种形式对财报的影响是不同的

现金分红 cash dividend：资产和所有者权益同时减少

股票分红 stock dividend：所有者权益内部科目改变，留存收益减少，股本增加，但是所有者权益总体不变的。所以不影响资本结构哈

----------------------------------------------
加油吧，让我们一起遇见更好的自己！

  • 1

    回答

  • 1

    关注

  • 534

    浏览
相关问题

NO.PZ2021091701000021 问题如下 Whiof the following is least likely to affethe capitstructure of Longive Trucking Company? Longive hmorate leverage toy. A.The acquisition of a major competitor for shares B.A substantiincrease in share pri C.The payment of a stovin C is correct. Stovin, like stosplits, have no impaon the value of a company’s equity. Issuing shares to acquire a competitor woulincrease equity relative to in the capitstructure. Share priappreciation woulalso increase the market value of equity, thus increasing equity relative to bt. 竞争公司可以认为资本结构相似 收购了竞争公司 那竞争公司的债务也会并表 发新股并购是收购方发新股跟目标公司的股票交换 那合并后的公司应该资本结构也没有太大变化呀

2023-09-10 18:30 1 · 回答

NO.PZ2021091701000021 问题如下 Whiof the following is least likely to affethe capitstructure of Longive Trucking Company? Longive hmorate leverage toy. A.The acquisition of a major competitor for shares B.A substantiincrease in share pri C.The payment of a stovin C is correct. Stovin, like stosplits, have no impaon the value of a company’s equity. Issuing shares to acquire a competitor woulincrease equity relative to in the capitstructure. Share priappreciation woulalso increase the market value of equity, thus increasing equity relative to bt. “股票分红 stovin所有者权益内部科目改变，留存收益减少，股本增加，但是所有者权益总体不变的。所以不影响资本结构”老师针对这句话可以举一个例子讲解吗？就比如，如果股票分红100股，所有者权益内部的科目分别如何变化哈？谢谢老师。

2023-07-07 14:31 2 · 回答

NO.PZ2021091701000021问题如下 Whiof the following is least likely to affethe capitstructure of Longive Trucking Company? Longive hmorate leverage toy. A.The acquisition of a major competitor for sharesB.A substantiincrease in share priceC.The payment of a stovin C is correct. Stovin, like stosplits, have no impaon the value of a company’s equity. Issuing shares to acquire a competitor woulincrease equity relative to in the capitstructure. Share priappreciation woulalso increase the market value of equity, thus increasing equity relative to bt. 没理解股价怎么影响资本结构，公司在算自己的目标资本结构时不也是用book value吗？能不能请老师讲讲股价影响资本结构的原理？

2023-06-10 18:27 2 · 回答

NO.PZ2021091701000021问题如下 Whiof the following is least likely to affethe capitstructure of Longive Trucking Company? Longive hmorate leverage toy. A.The acquisition of a major competitor for sharesB.A substantiincrease in share priceC.The payment of a stovin C is correct. Stovin, like stosplits, have no impaon the value of a company’s equity. Issuing shares to acquire a competitor woulincrease equity relative to in the capitstructure. Share priappreciation woulalso increase the market value of equity, thus increasing equity relative to bt. 没看出A哪里说“发新股”，只看见了并购竞争者股权，“for shares”不能理解成“发新股”吧

2023-03-21 07:31 1 · 回答

NO.PZ2021091701000021问题如下 Whiof the following is least likely to affethe capitstructure of Longive Trucking Company? Longive hmorate leverage toy. A.The acquisition of a major competitor for sharesB.A substantiincrease in share priceC.The payment of a stovin C is correct. Stovin, like stosplits, have no impaon the value of a company’s equity. Issuing shares to acquire a competitor woulincrease equity relative to in the capitstructure. Share priappreciation woulalso increase the market value of equity, thus increasing equity relative to bt. 如果c改成cash vin 会改变资本结构吗？如何改变？

2023-01-18 21:00 1 · 回答