标题: 请教GWD！！！！！！！！ [打印本页] 作者: crystalhuang 时间: 2010-5-6 16:15 标题: 请教GWD！！！！！！！！ 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?
A. Evaluating and rewarding the bank’s analysts on the basis of recommendations made by managers who are solely engaged in raising capital for clients B. Using reports by the investment bank’s analysts to determine how best to raise capital for a client C. Sharing the task of raising capital for a client with other investment banks D. Ensuring that conflicts between analysts and those who raise capital for clients are carefully mediated and resolved by impartial arbitrators E. Monitoring the success or failure of analysts’ current predictions about how companies will perform financially, in order to determine the value of future predictions Answer: A作者: wyw1018 时间: 2012-8-21 11:04
这样考虑这个问题： 1，银行分析员在分析一个公司的财务状况时应该处于中立客观，实事求是的反应客户财务状况，这样才不biased； 2，而帮客户融资的经理会倾向于选择对客户有利的财务报告这样融资成功性高，即融资经理有biased倾向。 现在A中把分析员和融资经理的业绩挂钩，就会产生这样的现象：如果分析员的财务报告对客户不利，融资经理就不会用，这样融资经理和分析员的业绩都下降，就会促使分析员把财务报告往对客户有利的方向写，才能让融资经理多选用和成功融资，分析员业绩也相应提高，因而出现biased，不利于投资银行长久发展。