anina2019-04-08 12:12:03

老师你好，关于warrants 对稀释每股收益的影响，if the exercise price is less than the weighted average market price during the year, the effect of their conversion is to increase the weighted average number of common shares outstanding, causing diluted EPS to be lower than basic EPS. If the exercise price is equal to the weighted average market price, the number of shares issued equals the number of shares repurchased. Therefore, the weighted average number of common shares outstanding is not affected and diluted EPS equals basic EPS. If the exercise price is greater than the weighted average market price, the effect of their conversion is anti-dilutive. 老师上课说如果执行价格高于平均市场价格，不行权，而原版书这里说如果执行价格高于平均市场价格，行权会有反稀释作用，怎么理解呢？执行价格高于市场平均价格，到底是行权还是不行权？