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  3. Text 1 Ruth Simmons joined Goldman Sachs

Text 1 Ruth Simmons joined Goldman Sachs

最全题库2022-08-02  40
问题 Text 1 Ruth Simmons joined Goldman Sachs's board as an outside director in January 2000;a year later she became president of Brown University.For the rest of the decade she apparently managed both roles without attracting much criticism.But by the end of 2009 Ms.Simmons was under fire for having sat on Goldman's compensation committee;how could she have let those enormous bonus payouts pass unremarked?By February the next year 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.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 classaction 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 break,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.We learn from Paragraph 2 that outside directors are supposed to be_____A.generous investorsB.unbiased executivesC.share price forecastersD.independent advisers
选项 A.generous investors
B.unbiased executives
C.share price forecasters
D.independent advisers
答案 D
解析 细节题【命题思路】这是一道局部细节题，需要对第二段进行锁定，从而得出答案。【直击答案】根据题干直接定位到第二段首句“Outside directors…on a firm's board.”从这句话我们得知外部董事所扮演的角色是advisers（顾问），其特点是helpful,less biased。接下来，第二句话“they…the chief executive's proposals.”表明外部董事实际是具有独立性的顾问，因此，D项为正确答案。【干扰排除】A项属于无中生有，“made their wealth…elsewhere”“在别处创造了财富”并不等于“慷慨的投资者”。B项干扰来自yet less biased，文章中确实提到了“less biased advisers”，但是选项中是executive并不是advisers，另外less biased不等于选项中的unbiased，偷换了概念，故不对。C项的干扰来自文章第二段最后一句“If the sky,and the share price…having weathered their own crises”。这句话仍然说明outside director作用是advisers，并不是股价预测者。
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英语二研究生

研究生入学

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