185****1997
2025-05-31 01:00最后一題，解釋income based方法不行的時(shí)候，說分母不好預(yù)測(cè)他的答案是這么寫的：This is because the cost of debt in WACC is based on the yield-to-maturity on the firm’s debt rather than the expected rate of return, which uses expected loss E(L)。這句話貌似不僅僅說折現(xiàn)率不好確定，好像還在說：WACC in income-based approaches uses yield-to-maturity (YTM) for debt cost, which ignores expected loss [E(L)]. This leads to mispricing risk, especially for distressed debt。也就是說：收益法中的WACC使用債務(wù)的到期收益率（YTM）計(jì)算資本成本，但忽略了預(yù)期損失[E(L)]，導(dǎo)致風(fēng)險(xiǎn)定價(jià)不準(zhǔn)確，尤其對(duì)困境債務(wù)。 請(qǐng)問是這樣嗎？
所屬：CFA Level III > Private Markets Pathway 視頻位置 相關(guān)試題
來源： 視頻位置 相關(guān)試題
1個(gè)回答
Michael助教
2025-06-09 11:27
該回答已被題主采納
同學(xué)你好，你的理解沒有問題。
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