首页
登录
职称英语
Conventional wisdom says that it is better to be a large company than a sma
Conventional wisdom says that it is better to be a large company than a sma
游客
2023-09-09
70
管理
问题
Conventional wisdom says that it is better to be a large company than a small one when credit is tight. Bigger firms have more room for maneuver(机动):They have access to more types of funding, they have more fat to cut, and they have greater bargaining power with lenders. Even so, life is getting ever more uncomfortable for the bigger beasts of the corporate jungle.
According to the Federal Reserve’s most recent lending survey, American banks are tightening terms more aggressively for bigger firms than for smaller ones. Lenders are more cautious than they
have been at least since 1990. The story among European banks is similar. Lenders in emerging markets can be more suspicious of multinational firms than they are of locals. "We just don’t know what they’ve got on their balance-sheets back home," says one bank boss in Africa.
Violent movements in exchange rates are causing additional headaches, says Andrew Balfour of Slaughter & May, a law firm. Calculations of financial ratios can be thrown out by wild currency movements, potentially triggering breaches of loan agreements. Companies with sterling-denominated credit lines may find that their facilities are not big enough as a result of the pound’s recent sharp fall, for instance.
It is not panic stations yet. Most firms can survive for a while with the credit tap turned off. Analysis by Moody’s, a rating agency, shows that the vast majority of highly rated companies in America and Europe have enough headroom, in the form of cash and undrawn bank facilities, to be able to survive for 12 months without needing new financing. European corporate-debt markets have seen a rare flurry(惊慌) of issues in the past few days by opportunistic, highly rated firms.
Governments are also working hard to prop up credit markets. The Fed’s program to buy commercial paper, a form of short-term company debt, had acquired almost $300 billion by November 26th. Banks on both sides of the Atlantic are issuing lots of government-backed bonds, which should encourage lending. [br] It is believed to be easier for bigger companies during the tight period, for they have larger space for ______.
选项
答案
maneuver
解析
由定位句可知人们一贯认为在信贷紧缩时期大公司要比小公司好,因为大公司有更大的操作空间(more room for maneuver),由题干larger space与more room同义,可知本题答案为maneuver。
转载请注明原文地址:http://tihaiku.com/zcyy/2998037.html
相关试题推荐
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
Tobetterunderstandthenegotiationpracticesofothercultures,itisimpo
随机试题
Inlargecities,manymeasureshavebeentakenagainst______dreiving.A、drinking
[originaltext]Thepriceofgoldfelltoitslowestlevelinfiveyearsintradi
已知某理想气体的压强为p,化体积为V,温度为T,气体的摩尔质量为M,k为玻兹曼常
胸骨后绞榨样痛并有重压窒息感,常见于A.肺梗死 B.急性心包炎 C.夹层动脉
目前医学界主张判断死亡的诊断标准是( )。A.瞳孔散大固定 B.各种反射消失
某客户的2015年度的销售收入为1000万元,销售成本为600万元,净利润为20
下列关于理财业务和传统信贷业务的说法,正确的有()。A.理财业务的资金源自投资
舒尔经颗粒的用法正确的是A.经前1日开始服用,至月经行后2日止 B.经前2日
A.刺激胰岛β细胞分泌胰岛素 B.激活PPARγ,提高细胞对胰岛素作用的敏感性
现有两只股票,A股票的市价为15元,B股票的市价为7元,某投资人经过测算
最新回复
(
0
)