首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Over the past decade, American companies have tried hard to find ways to discourage senior from feathering their own nests at th
Over the past decade, American companies have tried hard to find ways to discourage senior from feathering their own nests at th
admin
2016-05-26
62
问题
Over the past decade, American companies have tried hard to find ways to discourage senior from feathering their own nests at the expense of their shareholders. The three most popular reforms have been recruiting more outside directors in order to make boards more independent, linking bosses’ pay to various performance measures, and giving bosses share options, so that they have the same long-term interests as their shareholders.
These reforms have been widely adopted by America’s larger companies, and surveys suggest that many more companies are thinking of following their lead. But have they done any good? Three papers presented at the annual meeting of the Academy of Management in Boston this week suggest not. As is usually the case with boardroom tinkering, the consequences have differed from those intended.
Start with those independent boards. On the face of it, dismissing the boss’s friends from the board and replacing them with outsiders looks a perfect way to make senior managers more accountable. But that is not the conclusion of a study by Professor James Westphal. Instead, he found that bosses with a boardroom full of outsiders spend much of their time building alliances, doing personal favors and generally pleasing the outsiders.
All too often, these seductions succeed. Mr. Westphal found that, to a remarkable degree, "independent" boards pursue strategies that are likely to favor senior managers rather than shareholders. Such companies diversify their business, increase the pay of executives and weaken the link between pay and performance.
To assess the impact of performance related pay, Mr. Westphal asked the bosses of 103 companies with sales of over $ 1 billion what measurements were used to determine their pay. The measurements varied widely, ranging from sales to earnings per share. But the researcher’s big discovery was that bosses attend to measures that affect their own incomes and ignore or play down other factors that affect a company’s overall success.
In short, bosses are quick to turn every imaginable system of corporate government to their advantage, which is probably why they are the people who are put in charge of things. Here is a paradox for the management theorists: any boss who cannot beat a system designed to keep him under control is probably not worth having.
What does Professor James Westphal’s study suggest?
选项
A、Boardroom reforms have failed to achieve the desired result.
B、Outside board directors tend to be more independent.
C、With a boardroom full of outsiders, senior managers work more conscientiously.
D、Cooperation between senior managers and board directors suffered from the reforms.
答案
A
解析
事实细节题。第二段最后两句指出“本周在波士顿召开的管理科学院年会上发表的三篇论文并不这样认为。就像通常董事会瞎忙的事情一样,结果与改革的本意不一样。”这是总的结论。第三、四、五段是具体说明,主要是引用了Westphal的调查结果。所以A)为正确答案。
转载请注明原文地址:https://kaotiyun.com/show/SsY7777K
0
大学英语四级
相关试题推荐
BritishpsychologistshavefoundevidenceofalinkbetweenexcessiveInternetuseanddepression,aresearchhasshown.Lee
Tallmenaremorelikelytohavechildrenthantheirverticallychallengedfriendsbecausewomenfindheightattractive,anews
Tallmenaremorelikelytohavechildrenthantheirverticallychallengedfriendsbecausewomenfindheightattractive,anews
Frenchfries,washeddownwithapintofsoda,areafavoritepartoffast-foodlunchesanddinnersformillionsofAmericanyou
Geneticallymodified(GM)foodstuffsareheretostay.That’snottosaythatfoodproducedby【C1】______agriculturewilldisappea
Geneticallymodified(GM)foodstuffsareheretostay.That’snottosaythatfoodproducedby【C1】______agriculturewilldisappea
Consumersarebeingconfusedandmisledbythehodge-podge(大杂烩)ofenvironmentalclaimsmadebyhouseholdproducts,accordingto
Walking,ifyoudoitvigorouslyenough,istheoverallbestexerciseforregularphysicalactivity.Itrequiresnoequipment,e
Walking,ifyoudoitvigorouslyenough,istheoverallbestexerciseforregularphysicalactivity.Itrequiresnoequipment,e
Somefishcanswiminwaterbelow0°C,lowenoughtofreezethebloodofmostcreatures.However,somefishandinsectscanstay
随机试题
机架结构放样的内容主要有以下________几个方面。
下面哪种花卉属于水生花卉。()
患者男性,67岁,高血压病史8年,长期口服利尿剂降压治疗。心电图如图3—6—1所示,应诊断为
患者,女,70岁。糖尿病史20年,一直口服优降糖2.5mgTid和二甲双胍0.25gTid治疗,血糖控制尚可。10天前感冒后发热,并出现恶心、呕吐、意识障碍。查体BMI18.8kg/m2化验尿酮体(++),FBG28mmol/L,K+3.5mmol
A.布洛芬B.酮康唑C.环孢素D.比沙可啶E.氯化钾
某建筑场地抗震设防烈度为8度,设计基本地震加速度为0.30g,设计地震分组为第一组。场地土层及其剪切波速见下表。建筑结构的自振周期T=0.30s,阻尼比为0.05。请问特征周期Tg和建筑结构的水平地震影响系数a最接近下列哪一选项?(按多遇地震作用考虑)(
下列关于会计科目编码的描述中,正确的是( )。
甲、乙两人以相同路线前往离学校12千米的地方参加植树活动,甲、乙两人前往目的地所行驶的路程S(千米)随时间t(分)变化的函数图象如图所示,则每分钟乙比甲多行驶的路程是()。
A、 B、 C、 D、 A
Inancienttimespeoplewhowerethoughttohavetheabilityto______dreamswerelikelytobehighlyrespected.
最新回复
(
0
)