题目
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. 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 Ohio 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. 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. Otherwise outside directors will follow the example of Ms. Simmons, once again very popular on campus.
According to Paragraph 1, Ms. Simmons was criticized for_________.
A.gaining excessive profits
B.failing to fulfill her duty
C.refusing to make compromises
D.leaving the board in tough times
第1题
According to Paragraph 1, Ms. Simmons was criticized for______.
A.gaining excessive profits
B.failing to fulfill her duty
C.refusing to make compromises
D.leaving the board in tough times
第2题
What can NOT be inferred from the letter?
A.Selvac model 12 is a poor-quality product.
B.Martha Simmons expects a quick response.
C.Martha Simmons used to work for Selvac.
D.Selvac advertises its products on television.
第5题
Why was Ms Simmons criticized according to the passage?
A.She gained illegal pay from a third company.
B.She failed to fulfill her duty in Brown University.
C.She refused to make compromises with the students.
D.She left Goldman Sachs's board in tough times.
第6题
A.battle their genetic inheritance
B.eat as much as they could
C.suffer from hunger
D.lower their weight
第9题
Write a memo in traditional format according to the following situation.
Jane Simmons, Personnel Manager of Alpha Electronics, 80--90 Zeus Street, Manchester 0073 6LP, says to you, "Will you write a for me to Simon Clark, my deputy, please?
When he returns from holiday next Monday I shall be starting a three-day conference at Harogate. Ask him to interview the low candidates for the clerical vacancy in the Mailing Section on Monday, starting at 2:30 p. m. lie should make an appointment if there is a suitable candidate. The candidates have been invited for interview and their application forms and references are in the middle drawer of my desk. I’ll leave my desk keys with you. On Tuesday at loam. Gerry Rhodes, the Union Rep, has an appointment to see me. If Simon I can deal with whatever he wants, I shall be grateful. If not, I'll make another appointment to see Gerry when I'm back on Tuesday."
第10题
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