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  3. One reason why shareholder activism has been increasing is that regulators have encouraged it, especially on pay. For a decade B

One reason why shareholder activism has been increasing is that regulators have encouraged it, especially on pay. For a decade B

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问题     One reason why shareholder activism has been increasing is that regulators have encouraged it, especially on pay. For a decade Britain has required firms to give shareholders a non-binding annual vote on executive pay. The colossal Dodd-Frank act of 2010 gave shareholders in American companies a "say on pay", too.
    Now comes two new moves. On March 3rd the Swiss voted to oblige firms to hold a binding annual vote on director’s pay: in the small print, the referendum also banned golden handshakes and severance packages for board members, and bonuses that encourage the buying or selling of firms. Then on March 5th EU finance ministers (with only Britain objecting) agreed to cap bankers’ bonuses to 100% of their basic salary, or 200% if shareholders vote for it.
    If the Swiss had merely given shareholders an annual vote on pay, it would have been a good thing; but the accompanying bans are not. There are times when a golden handshake to a talented manager can be in shareholders’ interests: far better to let the owners vote on it than restrict the firm from trying it.
    The EU’s proposal has less still to recommend it. The rationale for it is that banking bonuses have encouraged risk taking, because they reward bankers hugely for bets that come off and punish them only slightly for those that don’t. But banks have come a long way since the crisis, by deferring bonuses and making them partly payable in their own debt and equity. Blunt laws could undermine such progress. And bonus caps will either hold pay down, thus sending clever people elsewhere, or push up salaries, thus making pay less responsive to performance. Enpowering shareholders is a good idea; requiring them to channel populist fury is not.
The Dodd-Frank act of 2010 gave shareholders in American companies ______.
选项 A、a right to decide their own interests
B、a right to appoint new executives
C、a right to vote on executive pay
D、a right to increase the salary
答案C
解析 根据题干中的“Dodd-Frank act of 2010”定位到首段尾句：The colossal Dodd-Frank act of 2010 gave shareholders in American companies a "say on pay"，too．根据对比可以知道答案是a "say on pay"，而这个短语的意思比较难理解。通过too一词，可以知道它等于上文give后面的内容，即“a non-binding annual vote on executive pay”，而这个句子和选项C最接近，故选项C为答案。
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