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PJ-John · 2022年02月24日

债务投资比股权投资风险还大?不明白这是哪个知识点

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NO.PZ202105270100000508

问题如下:

Based on the composition of each country’s currency portfolio, which country is most vulnerable to a potential crisis?

选项:

A.Country A B.Country B C.Country C

解释:

C is correct.

Public debt makes up the majority of Country C’s currency portfolio, which is the least supportive flow (or holding) to a currency. Public debt is less supportive because it has to be serviced and must be either repaid or refinanced, potentially triggering a crisis. Some types of flows and holdings are considered to be more or less supportive of the currency. Investments in private equity represent long-term capital committed to the market and are most supportive of the currency. Public equity would likely be considered the next most supportive of the currency. Debt investments are the least supportive of the currency.

公共债务构成了C国货币组合的大部分,这非常不支持货币的流动性。公共债务的支持性较差,因为它必须得到偿还,而且要么必须偿还,要么必须再融资,这有可能引发危机。一些类型的流动和持有被认为或多或少地支持了货币。对私人股本的投资是对市场的长期投资,也是对货币最有利的支持。公共股权可能会被认为是下一个对货币最有利的因素。债务投资对货币的支持力度最小。


债务投资比股权投资风险还大?不明白这是哪个知识点

1 个答案

源_品职助教 · 2022年02月25日

嗨,爱思考的PZer你好:



其实这里比较的是一个特定的风险。偿还风险。而且它是从借款人角度论述的。

其实也很好理解,就是债券的借款到期是必须要还的。

而对于股票,上市后大多数股票是永续的,没有说到了哪个时间一定要偿还。

这就是债券借款相对于股票借款的优势。

这部分内容在讲义P191有所涉及。

----------------------------------------------
虽然现在很辛苦,但努力过的感觉真的很好,加油!

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