{"id":5797,"date":"2017-12-19T12:51:05","date_gmt":"2017-12-19T04:51:05","guid":{"rendered":"http:\/\/tokuhon.blog\/?p=5797"},"modified":"2018-02-20T09:11:34","modified_gmt":"2018-02-20T01:11:34","slug":"5797","status":"publish","type":"post","link":"https:\/\/tokuhon.blog\/?p=5797","title":{"rendered":"\u6295\u8cc7\u554f\u7b54(5)\uff1a\u751a\u9ebc\u662f\u5408\u5925\u4eba\u5236\uff1f\u751a\u9ebc\u662f\u540c\u80a1\u4e0d\u540c\u6b0a\uff1f\u2502\u812b\u82e6\u6d77"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" data-attachment-id=\"8257\" data-permalink=\"https:\/\/tokuhon.blog\/?attachment_id=8257\" data-orig-file=\"https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?fit=799%2C533&amp;ssl=1\" data-orig-size=\"799,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"v2-f337b8bed32e2b6bed83e533e90b0271_r\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?fit=799%2C533&amp;ssl=1\" class=\"alignnone size-medium wp-image-8257\" src=\"https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?resize=300%2C200&#038;ssl=1\" alt=\"\" width=\"300\" height=\"200\" srcset=\"https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?resize=300%2C200&amp;ssl=1 300w, https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?resize=360%2C240&amp;ssl=1 360w, https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?w=799&amp;ssl=1 799w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p>\u5408\u5925\u4eba\u5236\u8207\u540c\u80a1\u4e0d\u540c\u6b0a<\/p>\n<p>\u4e4b\u524d\u6709\u4ecb\u7d39\u9999\u6e2f\u7684A\u80a1B\u80a1\uff0c\u5c31\u662f\u540c\u6a23\u90fd\u6709\u4e00\u80a1\u7684\u6295\u7968\u6b0a\uff0c\u4f46B\u80a1\u7684\u7968\u9762\u503c\u53ea\u662f\u4e94\u4efd\u4e4b\u4e00\uff0c\u80a1\u50f9\u4e5f\u5927\u7d04\u662f\u4e94\u4efd\u4e4b\u4e00\uff0c\u5927\u80a1\u6771\u5c31\u5927\u91cf\u6301\u6709B\u80a1\uff0c\u9054\u5230\u7528\u5c11\u91cf\u8cc7\u91d1\u63a7\u5236\u4e0a\u5e02\u516c\u53f8\u7684\u76ee\u7684\uff0c\u53ef\u7b97\u662f\u300c\u540c\u6b0a\u4e0d\u540c\u80a1\u300d\u3002\u800c\u963f\u91cc\u5df4\u5df4\u8981\u6c42\u7684\u300c\u5408\u5925\u4eba\u5236\u300d\uff0c\u5247\u662f\u300c\u540c\u80a1\u4e0d\u540c\u6b0a\u300d\uff0c\u5c31\u662f\u5927\u5bb6\u90fd\u662f\u6301\u6709\u80a1\u4efd\uff0c\u6709\u4e9b\u4eba\u7684\u6b0a\u5229\u4e0d\u76f8\u540c\u3002<\/p>\n<p>\u300c\u540c\u6b0a\u4e0d\u540c\u80a1\u300d\u4e26\u975e\u4e2d\u570b\u4eba\u767c\u660e\u7684\uff0c\u5728\u5916\u570b\u65e9\u5c31\u6709\u9019\u985e\u5b89\u6392\uff0c\u540d\u70ba\u300c\u96d9\u5c64\u80a1\u6b0a\u5236\u300d(dual class stock \/ ownership)\uff1a<\/p>\n<p><a class=\" wrap external\" href=\"https:\/\/link.zhihu.com\/?target=http%3A\/\/www.investopedia.com\/terms\/d\/dualclassstock.asp\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">Dual Class Stock<\/a><\/p>\n<figure><img data-recalc-dims=\"1\" decoding=\"async\" class=\"origin_image zh-lightbox-thumb lazy\" src=\"https:\/\/i0.wp.com\/pic3.zhimg.com\/50\/v2-6fa9f4e5e1f6c69f38ad9ec0e713fb6a_hd.jpg?w=624&#038;ssl=1\"  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bank)\u6301\u80a136.7%\u4e36\u96c5\u864e(Yahoo)\u6301\u80a124%\uff0c\u5169\u8005\u5728\u8463\u4e8b\u6703\u5404\u4f54\u4e00\u500b\u5e2d\u4f4d\uff1b\u963f\u91cc\u5df4\u5df4\u670928\u4f4d\u5408\u5925\u4eba\u53ea\u64c1\u6709\u963f\u91cc\u5df4\u5df4\u96c6\u5718\u7d0410%\u7684\u80a1\u4efd\uff08\u99ac\u96f2\u6301\u6709\u7d047%\u5de6\u53f3\uff09\uff0c\u4ed6\u5011\u6709\u6b0a\u63d0\u540d\u8463\u4e8b\u6703\u7684\u5927\u90e8\u5206\u8463\u4e8b\uff0c\u7136\u5f8c\u963f\u91cc\u5df4\u5df4\u7684\u80a1\u6771\u53ef\u4ee5\u5426\u6c7a\u5408\u5925\u4eba\u63d0\u51fa\u7684\u8463\u4e8b\u5019\u9078\u4eba\uff0c\u4e4b\u5f8c\u5408\u5925\u4eba\u5c07\u91cd\u65b0\u6311\u9078\u65b0\u7684\u5019\u9078\u4eba\u4ee5\u4f9b\u80a1\u6771\u6279\u51c6\u3002\u800c\u5408\u5925\u4eba\u4e4b\u9593\u901a\u904e\u5408\u540c\u76f8\u4e92\u5236\u7d04\uff0c\u6bd4\u5982\u5408\u5925\u5236\u5be6\u884c\u4e00\u4eba\u4e00\u7968\uff0c\u7f77\u514d\u5408\u5925\u4eba\u9700\u8981\u5f97\u5230\u6240\u6709\u5408\u5925\u4eba51%\u7684\u6295\u7968\u652f\u6301\uff0c\u7b49\u7b49\u3002<\/p>\n<p>\u672c\u4f86\uff0c\u6709\u4e00\u7a2e\u80a1\u7968\u662f\u6c92\u6709\u6295\u7968\u6b0a\u7684\uff0c\u5c31\u662f\u512a\u5148\u80a1(preference share)\uff0c\u540c\u80a1\u4e0d\u540c\u6b0a\u7684\u610f\u601d\u662f\uff0c\u540c\u6a23\u7968\u9762\u503c\u7684\u666e\u901a\u80a1\uff0c\u6295\u7968\u6b0a\u537b\u5b8c\u5168\u4e0d\u540c\uff0c\u9019\u662f\u6709\u9055\u516c\u5e73\u539f\u5247\u3002\u800c\u4e14\uff0c\u5275\u59cb\u4eba\u53ef\u80fd\u5c0d\u516c\u53f8\u6709\u7368\u7279\u7684\u5efa\u6a39\u53ca\u80fd\u529b\uff0c\u53ef\u662f\u7576\u5275\u59cb\u4eba\u767e\u5e74\u4e4b\u5f8c\uff0c\u5176\u7e7c\u627f\u4eba\u53c8\u662f\u5426\u5728\u516c\u53f8\u6709\u6b64\u7279\u6b8a\u7684\u5730\u4f4d\u5462\uff1f\u9019\u5728\u798f\u7279\u6c7d\u8eca(Ford Motor)\u7531\u5275\u8fa6\u5bb6\u65cf\u6301\u67094%\u80a1\u7968\uff0c\u537b\u6709\u64c1\u670940%\u6295\u7968\u6b0a\u53ef\u898b\u4e00\u6591\u3002<\/p>\n<p>\u5927\u5bb6\u6709\u8208\u8da3\u7684\u8a71\uff0c\u53ef\u4ee5\u53bb\u641c\u5c0b\u300c\u6e56\u7554\u5408\u5925\u4eba\u300d(Lakeside Partners)\u4e00\u8a5e\uff0c\u53bb\u4e86\u89e3\u5efa\u8b70\u7684\u7d30\u7bc0\uff0c\u53ea\u662f\u7b46\u8005\u89ba\u5f97\uff1a\u70ba\u751a\u9ebd\u4e0d\u767c\u884c\u6c92\u6709\u6295\u7968\u6b0a\u7684\u512a\u5148\u80a1\uff0c\u751a\u81f3\u76f4\u63a5\u767c\u884c\u9577\u671f\u50b5\u5238\uff0c\u7b49\u516c\u53f8\u4ed6\u65e5\u66f4\u52a0\u767c\u8de1\u81f4\u5bcc\u6642\uff0c\u5c31\u7528\u516c\u53f8\u7684\u6efe\u5b58\u5229\u6f64\u4f86\u9084\u50b5\u5462\uff1f<\/p>\n<p>\u81f3\u65bc\u9999\u6e2f\u8b49\u5238\u754c\u889e\u889e\u8af8\u516c\uff0c\u4e5f\u5206\u958b\u652f\u6301\u548c\u53cd\u5c0d\u5169\u6d3e\uff0c\u7576\u7136\u5927\u5bb6\u90fd\u5404\u6709\u7406\u7531\uff08\u548c\u5229\u76ca\uff09\uff0c\u4f46\u7acb\u5728\u5c0f\u5e02\u6c11\u7684\u7acb\u5834\uff0c\u5373\u4f7f\u963f\u91cc\u5df4\u5df4\u8981\u5230\u7f8e\u570b\u4e0a\u5e02\uff0c\u5927\u53ef\u4ee5\u958b\u500b\u7f8e\u80a1\u6236\u53e3\u53bb\u9032\u884c\u6295\u8cc7\uff0c\u7121\u9700\u64d4\u5fc3\u56e0\u70ba\u4e0d\u5728\u9999\u6e2f\u4e0a\u5e02\u800c\u8cb7\u8ca8\u7121\u9580\uff0c\u4e0d\u904e\u4ee4\u5230\u4e00\u4e9b\u696d\u754c\u505a\u5c11\u4e86\u751f\u610f\uff0c\u5c31\u514d\u4e0d\u4e86\uff01<\/p>\n<p>\u4e0d\u77e5\u963f\u91cc\u5df4\u5df4\u4f55\u6642\u6703\u670940\u500b\u5408\u5925\u4eba\u5462\uff1f<\/p>\n<p>&nbsp;<\/p>\n<p>\u4f86\u6e90\uff1a<a href=\"https:\/\/zhuanlan.zhihu.com\/p\/31987403\" target=\"_blank\" rel=\"noopener\">https:\/\/zhuanlan.zhihu.com\/p\/31987403<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u5408\u5925\u4eba\u5236\u8207\u540c\u80a1\u4e0d\u540c\u6b0a \u4e4b\u524d\u6709\u4ecb\u7d39\u9999\u6e2f\u7684A\u80a1B\u80a1\uff0c\u5c31\u662f\u540c\u6a23\u90fd\u6709\u4e00\u80a1\u7684\u6295\u7968\u6b0a\uff0c\u4f46B\u80a1\u7684\u7968\u9762\u503c\u53ea\u662f\u4e94\u4efd\u4e4b\u4e00\uff0c\u80a1\u50f9\u4e5f\u5927 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":8257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false,"jetpack_post_was_ever_published":false},"categories":[602147501],"tags":[2314159,603689635,603689666,603689665,603689632,603689559,603689631],"class_list":["post-5797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","tag-a","tag-b","tag-603689666","tag-603689665","tag-603689632","tag-603689559","tag-603689631"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tokuhon.blog\/wp-content\/uploads\/2017\/12\/v2-f337b8bed32e2b6bed83e533e90b0271_r.jpg?fit=799%2C533&ssl=1","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/s9lhKB-5797","jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/posts\/5797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5797"}],"version-history":[{"count":6,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/posts\/5797\/revisions"}],"predecessor-version":[{"id":11747,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/posts\/5797\/revisions\/11747"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=\/wp\/v2\/media\/8257"}],"wp:attachment":[{"href":"https:\/\/tokuhon.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tokuhon.blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}