兼并收购概念理论之一：概览和购买策略(100分)

兼并收购概念理论之一：概览和购买策略（100分）

概述和买方策略

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单选题（共4题，每题20分）

1 . Why does a management team want to grow a company(为什么管理团队想

要让一家公司成长)?

• A.Growth companies receive higher value multiples in the stock market(成长型公司在股市中获得更高的估值倍数)

• B.A growing company retains the best employees(成长型公司保留最优秀的员工)

• C.A growth company is less likely to be a hostile takeover(成长型公司不太可能被敌意收购)

• D.Growth companies generate positive cash flow and high internal rate of return(成长型公司产生正现金流和高内部收益率)

• E.Growth companies expand internationally(E.成长型公司在国际上拓展) 我的答案： A

2 . Cost synergies are easy to obtain in American Mergers and Acquisition

deals because(在美国兼并和收购交易中很容易获得成本协同效应，因为): • A.The buyer can fire (or lay off) the employees of the acquisition with little penalty(买方可以很少的处罚解雇或辞退收购的员工)

• B.American investors pay little attention to anti-competition concerns （美国投资者很少关注反竞争问题）

• C.American firms can be acquired cheaply because of the last financial crisis（由于金融危机，美国公司可以被廉价获收购）

我的答案： A

3 . The purpose of acquisitions is to increase the acquirer’s（收购的

目的是增加收购方的）:

• A.Revenue（收入）

• B.Market Share（市场份额）

• Income（净收入）

• mon Stock Value（普通股票价值）

• E.Asset Base（资产基础）

我的答案： D

4 . Emerging markets (such as Thailand, China, and India) represent 80%

of the world’s population. Approximately what percentage of the global Mergers and Acquisition activity do they represent(新兴市场，如泰国、中国和印度，占全球人口的80％。大约他们所代表的全球并购活动的百分比是多少)?

• A.80%

• B.65%

• C.45%

• D.30%

• E.15%