Colin
2018-03-21 11:18貼一下課后題目的答案。沒(méi)有看懂。請(qǐng)老師解釋。謝謝。B is correct. If the future growth or profitability of a company is likely to be lower than the historical average (in this case, because of a potential technological development), then the target multiple should reflect a discount to the historical multiple to reflect this difference in growth and/or profitability. If a multiple is used to derive the terminal value of a company, the choice of the multiple should be consistent with the long-run expectations for growth and required return. French tells Wright he believes that such a technological development may have an adverse impact on Archway beyond the forecast horizon.
所屬：CFA Level II > Portfolio Management 視頻位置 相關(guān)試題
來(lái)源： 視頻位置 相關(guān)試題
1個(gè)回答
金程教育Alfred助教
2018-03-21 13:13
該回答已被題主采納
同學(xué)你好，題目里說(shuō)他預(yù)計(jì)technology的發(fā)展會(huì)adversely affect Archway，也就是說(shuō)對(duì)于公司的盈利會(huì)有一個(gè)負(fù)面的影響，因此給他的估值就要低一些，所以是decrease the PE
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