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
Ruth Simmons joined Goldman Sachs’s board as an outside director in January 2000; a year later she became president of Brown Uni
Ruth Simmons joined Goldman Sachs’s board as an outside director in January 2000; a year later she became president of Brown Uni
admin
2012-01-27
72
问题
Ruth Simmons joined Goldman Sachs’s board as an outside director in January 2000; a year later she became president of Brown University in Rhode Island. For the rest of the decade she apparently juggled (同时做) both roles (as well as several other directorships) without attracting much criticism. But by the end of 2009 Ms Simmons was under fire from students and alumni for having sat on Goldman’s compensation committee; how could she have let those enormous bonus payouts pass unremarked? By February Ms Simmons had left the board. The position was just taking up too much time, she said.
Outside directors are supposed to serve as helpful, yet less biased, advisers on a firm’s board. Having made their wealth and their reputations elsewhere, they presumably have enough independence to disagree with the chief executive’s proposals. Leaders from other fields are frequently in demand: former presidents or Cabinet members, retired CEOs, and yes, university presidents. If the sky, and the share price, is falling, outside directors should be able to give advice based on having weathered their own crises.
The researchers from the Ohio State University used a database that covered more than 10,000 firms and more than 64,000 different directors between 1989 and 2004. Then they simply checked which directors stayed from one proxy statement to the next. The most likely reason for departing a board was age, so the researchers concentrated on those "surprise" disappearances by directors under the age of 70. They found that after a surprise departure, the probability that the company will subsequently have to restate earnings increases by nearly 20%. The likelihood of being named in a federal class-action lawsuit also increases, and the stock is likely to perform worse. The effect tended to be larger for larger firms.
The obvious conclusion might be that outside directors, with inside knowledge of tricky times ahead, prefer to save their own reputations, rather than those of the company they are serving. But although a correlation between them leaving and subsequent bad performance at the firm is suggestive, it does not mean that such directors are always jumping off a sinking ship. Often they "trade up", leaving riskier, smaller firms for larger and more stable firms.
But the researchers believe that outside directors have an easier time of avoiding a blow to their reputations if they leave a firm before bad news breaks, even if a review of history shows they were on the board at the time any wrongdoing occurred. Firms who want to keep their outside directors through tough times may have to create incentives, such as increasing pay, says Dr Fahlenbrach. Otherwise outside directors will follow the example of Ms Simmons, once again very popular on campus.
What can be inferred from the last paragraph?
选项
A、Some outside directors may stay for the attractive offers from the firms.
B、There isn’t enough evidence to prove outside directors’ immoral behaviors.
C、Outside directors have been used to a stress-free working environment.
D、It is always low pay that drives an outside director to leave a company.
答案
A
解析
根据题干中的the last paragraph将本题出处定位到末段。该段第2、3句提到,那些想在困难时期留住外部董事的公司,可能需要建立激励措施(create incentives),否则他们就会跟Simmons一样(走人)。由此推断,公司开出的诱人的优越条件有可能留住外部董事。[A]“一些外部董事可能会因为公司的诱人条件而留下”是对这两句的同义转述,故为答案。[B]与该段首句后半部分提到的“历史证明,当许多不当行为发生时,很多外部董事都还在董事会”意思相反。[C]是针对首句中的have an easier time设的干扰项,该句说的是,外部董事如果在坏消息出现前就离开公司的话,比较容易避免他们的名誉受到攻击,故排除[C]。[D]“通常是低薪使得外部董事离开公司”是对第2、3句的过度推断。
转载请注明原文地址:https://kaotiyun.com/show/Jpo7777K
0
大学英语六级
相关试题推荐
A、Shehasbadstudyhabits.B、Shesleepstoomuch.C、Shewakesuplate.D、She’sanexcellentstudent.A综合推断题。女士说自己熬了一整夜在为历史期中考试复
Theattitudeofsometopmanagementusedtobe"Themachinebelongstothecompany;theworkerismadeforthemachine;or,the
Scholarsandstudentshavealwaysbeengreattravelers.Theofficialcasefor"academicmobility"isnowoftenstatedinimpress
A、Thosewhoknowhowtoprogramcomputers.B、Thosewhogetspecialaidfromtheirteachers.C、Thosewhoareveryhardworking.D、
HowSledDogsWorkThey’rephysicalwonders-abletoendureextremeconditionsforextensiveperiodsoftimewhilerunningf
A、TheauthormakesfunofthePresident.B、Theauthorthinkshighlyofthefilm.C、TheauthorisafanofHollywoodcomedies.D、
A、Exposingoneselftothetargetculture.B、Attendingregularlyagoodlanguageprogram.C、Comingupwithastudyplan.D、Develo
A、It’sonehalfasmuchas1976.B、It’stwiceasmuchas1976.C、It’sclosetothesame.D、It’stwo-thirdsasmuchas1976.A文中提
Languageisthemeansbywhichthethoughtsandfeelingsofonepersonarecarriedtoanotherpersonsothattheyareunderstood
TheWhiteHouseistheofficialresidenceofthePresidentoftheUnitedStates.Itwas【B1】______byJamesHoban,anIrishborn【
随机试题
最可能的诊断是根据目前病例之诊断,主要治疗应包括
皮肤的多数相邻毛囊和皮脂腺的急性化脓性炎症称
某投资项目预计建成后的年固定成本为46万元,每件产品估计售价为56元,单位产品变动成本为25元,销售税率为10%。则该项目盈亏平衡点的产量为()件。
原水通过滤池时,()将水中悬浮物粘附截留。
能管理计算机的硬件设备并使得应用软件能方便、高效率地使用这些设备的是()。
新增会计科目。科目编码:1402一01科目名称:甲材料
乙公司为居民企业,主要从事货物生产和销售,2017年有关生产经营隋况如下:(1)取得不含税销售收入2500万元,销售成本1343万元;(2)发生销售费用670万元(其中广告费420万元);管理费用400万元(其中业务招待费15万元,新产品研究开发费用1
柯尔伯格道德判断发展的最高阶段是【】
一些精神疾病可以理解为不同的思考方式。米开朗琪罗、贝多芬、凡.高等许多名人或多或少有这样的特性。他们的艺术才华在一定程度上源于他们的精神紊乱,就像亚里士多德曾说过的那样,伟大的天才无不带有一丝疯狂。日前,一项针对数十万人进行的研究表明,精神分裂和躁郁症等疾
Forbusinessrelationstocontinuebetweenourtwocompanies,asatisfactory_____mustbereachedandsigned.
最新回复
(
0
)