首页
登录
职称英语
Conventional wisdom says that it is better to be a large company than a smal
Conventional wisdom says that it is better to be a large company than a smal
游客
2024-05-22
34
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 sterlingdenominated (以英镑为单位的) 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 (骤雨) of issues in the past few days by opportunistic, highly rated firms.
Governments are also working hard to hold out 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] European lenders are more ______ when they deal with bigger firms.
选项
答案
cautious
解析
根据题干中的European lenders将本题出处定位在第二段第三句。原文说“欧洲银行的情况也是相似的”。也就是前面两句中提到的“贷款条款更加严格,态度更加谨慎(cautious)”。题干要求填入的是一个形容词,表示银行在与大公司打交道时的态度,由此可知答案为cautious。
转载请注明原文地址:http://tihaiku.com/zcyy/3606252.html
相关试题推荐
Conventionalwisdomsaysthatitisbettertobealargecompanythanasmal
Conventionalwisdomsaysthatitisbettertobealargecompanythanasmal
Conventionalwisdomsaysthatitisbettertobealargecompanythanasmal
Ifthebuildingproject______(打算月底前完成的)isdelayed,theconstructioncompanyw
Marriagemayimproveyoursleep,andbettersleepmayimproveyourmarriage,
Marriagemayimproveyoursleep,andbettersleepmayimproveyourmarriage,
Marriagemayimproveyoursleep,andbettersleepmayimproveyourmarriage,
Marriagemayimproveyoursleep,andbettersleepmayimproveyourmarriage,
Conventionalwisdomsaysthatitisbettertobealargecompanythanasmal
Conventionalwisdomsaysthatitisbettertobealargecompanythanasmal
随机试题
•Lookatthenotesbelow.•Someinformationismissing.•Youwillhearat
Thediscoveryoftheobesitygeneinhumanshalfadecadeagoofferedeviden
[originaltext]W:It’ssuretosayhistransitiontolivinganadoptivehomemay
宫腔镜下可以诊断及治疗的疾病不包括A.子宫黏膜下肌瘤 B.子宫内膜息肉 C.
下列情形中,最不可能引起社会存款增加的是( )。A.存款利率上升 B.发生通
下列选项中不属于注册会计师检查银行存单的方法的是( )。A、对已质押的定期存款,
下列有关交通供求问题的表述,正确的有( )。A.不变的供给和波动的需求之间出现
基础心理学是研究()。 (A)正常成人心理现象的心理学基础学科 (B
A.听证程序 B.简易程序 C.一般程序 D.行政处罚的决定公民50元以下
关于妊娠合并心脏病叙述哪项不对A:妊娠合并心脏病是孕产妇死亡的主要原因之一 B
最新回复
(
0
)