2022年CFA一级考试中Corporate Issuers科目考题练习！

在2022年CFA一级考试中Corporate Finance科目变为Corporate Issuers,但是CFA考试知识没有做完全的改变，考生在备考CFA考试中是有一些知识的调整，但是大部分知识还是和之前一样的，不知道你在备考CFA考试中是不是掌握了呢？

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】对于选项A，双层股权结构使得管理层对公司的影响更大，因此不能缓解管理层与股东之间的利益冲突;

对于选项B，双层股权结构对于股东是不利的，因此采用双 层股权结构的公司在股价上将会存在折价;

对于选项C，双层股权结构使得管理层不会过 度重视股票市场的短期效应，而更多地投入于对于企业长期发展有益的项目。

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】选项A是正确的，这一说法就是corporate governance的定义;选项B是错误的，corporate governance主要是规定管理层的职责;选项C是错误的，在stakeholder theory理论下，corporate governance的作用是协调与公司相关的各关联方之间的利益，这些相关方包 括shareholders, employees, suppliers, customers, etc.