<p>题目是Higgins的analysis for financial management 里面第六章的第10题：</p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US" style=";"><font face="Times New Roman">10. The equity of Enterprise Hold Inc. has a market value of $3 million. It currently has 300,000 shares outstanding, and a book value of equity of $1,095,000. An unexpected cash windfall has prompted management to consider either a special dividend of $6.00 per share or a stock repurchase for cash.<p></p></font></span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US" style=";"><font face="Times New Roman">a. If management estimates that a stock repurchase announcement will increase stock price by 5 percent, how many shares should they be prepared to repurchase?<p></p></font></span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US" style=";"><font face="Times New Roman">b. Can you think of any reasons a share repurchase might be preferable to a special dividend?<p></p></font></span></p><p>我想知道里面的book value of equity有什么用， 呵呵 哪位好心人帮忙解答一下。</p>