在2022年CFA一級(jí)考試中Corporate Finance科目變?yōu)镃orporate Issuers,但是CFA考試知識(shí)沒有做完全的改變，考生在備考CFA考試中是有一些知識(shí)的調(diào)整，但是大部分知識(shí)還是和之前一樣的，不知道你在備考CFA考試中是不是掌握了呢？
Proponents of dual-class voting structures believe that the benefits to public shareholders most likely include:
A. reducing conflicts of interest between management and those with economic interests.
B. trading values that are typically at a slight premium to single-class peers.
C. promoting company stability by insulating management from short-term investor pressures.
【答案】C
【解析】對(duì)于選項(xiàng)A，雙層股權(quán)結(jié)構(gòu)使得管理層對(duì)公司的影響更大，因此不能緩解管理層與股東之間的利益沖突;
對(duì)于選項(xiàng)B，雙層股權(quán)結(jié)構(gòu)對(duì)于股東是不利的，因此采用雙 層股權(quán)結(jié)構(gòu)的公司在股價(jià)上將會(huì)存在折價(jià);
對(duì)于選項(xiàng)C，雙層股權(quán)結(jié)構(gòu)使得管理層不會(huì)過 度重視股票市場(chǎng)的短期效應(yīng)，而更多地投入于對(duì)于企業(yè)長(zhǎng)期發(fā)展有益的項(xiàng)目。
Under the stakeholder theory, corporate governance is most consistent with a system of:
A. internal controls and procedures by which individual companies are managed.
B. defined roles for management and the majority shareowner(s).
C. checks and balances to minimize the conflicting interests among shareowners.
【答案】A
【解析】選項(xiàng)A是正確的，這一說法就是corporate governance的定義;選項(xiàng)B是錯(cuò)誤的，corporate governance主要是規(guī)定管理層的職責(zé);選項(xiàng)C是錯(cuò)誤的，在stakeholder theory理論下，corporate governance的作用是協(xié)調(diào)與公司相關(guān)的各關(guān)聯(lián)方之間的利益，這些相關(guān)方包 括shareholders, employees, suppliers, customers, etc.
