单选题 According to the liquidity preference theory, which of the following statements is least accurate?

A. All else equal, investors prefer short-term securities over long-term securities.
B. Investors perceive little risk differential between short-term and long-term securities.
C. Borrowers will pay a premium for long-term funds to avoid having to roll over short-term debt.

【正确答案】 B

【答案解析】[解析] 流动性偏好理论认为，除了对未来短期利率的预期以外，债券的长期利率还包含因长期持有而必须向投资者支付的流动性溢价。根据该理论，流动性溢价的大小决定于基于长期债券较高的风险而必须向投资者支付的额外风险补偿。从另一个角度来讲，流动性溢价就是投资者对短期债券所具有的较高流动性的偏好程度的体现。显然，选项B的阐述不符合上述理论。