[商管] [財管] 股利政策-股票購回
題目出自高點經典題型14-66第8題
Moreover Inc. believes that at its current stock price of $16.00 the firm is
undervalued in the market. Makeover plans to repurchase 2.4 million of its
20 million shares outstanding. The firm's managers expect that they can
repurchase the entire 2.4 million shares at the expected equilibrium price
after repurchase. The firm's current earnings are $44 million. If management's
assumptions hold, what is the expected market price after repurchase?
(A)$16.00 (B)$17.26 (C)$18.18 (D)$20.00 (E)$24.40
答案是(C)
我的想法：
20M * 16 - 2.4M * P'
購回後股價(P') = －－－－－－－－－－－
20M - 2.4M
分子是目前公司價值減掉買回庫藏股的成本
分母是原本20M股票減掉庫藏股2.4M
→ P' = $16
→(A)
結果就錯了= =
不曉得是哪個觀念有誤呢？
如果有需要我再把高點的解答PO上來！
謝謝回答～
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※ 編輯: chi1104 來自: 125.227.142.217 (01/02 23:47)
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