请教逻辑GWD30-40JJ一题 - ChaseDream

GWD30-Q40:

Investment banks often have conflicting roles. They sometimes act for a client company by raising capital from other investment institutions as advantageously as possible, but their analysts also sometimes send unfavorable reports on the financial health of companies for whom they are raising capital to other clients who wish to make investments. Analyses of companies’ financial health need to be unbiased if an investment bank is to achieve long-term success.

If the statements above are true, which of the following practices, if adopted by an investment bank, would hinder its long-term success?

Evaluating and rewarding the bank’s analysts on the basis of recommendations made by managers who are solely engaged in raising capital for clients
Using reports by the investment bank’s analysts to determine how best to raise capital for a client
Sharing the task of raising capital for a client with other investment banks
Ensuring that conflicts between analysts and those who raise capital for clients are carefully mediated and resolved by impartial arbitrators
Monitoring the success or failure of analysts’ current predictions about how companies will perform financially, in order to determine the value of future predictions

我觉得B也可以啊.

(B)Using reports by the investment bank’s analysts to determine how best to raise capital for a client

but their analysts also sometimes send unfavorable reports on the financial health of companies for whom they are raising capital to other clients who wish to make investments

投銀分析家惡意中傷的意思嗎? 還是充分接露財務不健全的一面?

俺是投行的，这题俺有感觉，一瞧就知道是A。有一个投行中的常识如下：

法律规定，分析师必须保持独立性！IBD部门（也就是做股票承销、融资顾问等活的部门）跟分析师之间有“China Wall”（我也不知道这个词的来由，全世界都这么用），不允许共同去拜访客户、不允许互相发电子邮件等。他们之间的交流，必须要通过公司的compliance部门转达。不过，嘻嘻，私下里，我们banker这边都求analyst帮忙，给点信息什么的。因为客户愿意跟他们打交道（客户的股票需要分析师的报告去吹捧才能涨），而不大愿搭理我们banker

所以，如果如A答案所说，banker去评估analyst的工作，岂不是有违“独立性”。跟常识有悖啊！所以，我毫不犹豫的选了A。