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安宝123 · 2019年10月03日

问一道题:NO.PZ2016021705000029 [ CFA I ]

问题如下图:

选项:

A.

B.

C.

解释:

理解C的意思,但是为什么C不对呢,用后面新的D/E为什么不对呢,原文有相应解释吗?

1 个答案

企鹅_品职助教 · 2019年10月08日

因为题目是求项目的Equity beta,所以要用项目的Debt-to-equity比例,即0.5,因此B选项是正确的。

C选项说 Wiene should use the new debt-to-equity ratio of DEF,即使用公司新的Debt-to-equity ratio。公司原有的杠杆比例为0.6,公司给新项目的融资杠杆比例为0.5;因此,给新项目融资后公司会杠杆比例会发生变化,虽然题目没说,但是我们可以预计这个比例应该在0.5到0.6之间。因此C是错误的。

 

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