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
2023-09-05
43
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 (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:https://tihaiku.com/zcyy/2988918.html
相关试题推荐
Awordprocessorisbetterthanatypewriterinthat______(它使文本的编辑变得更容易).iten
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Onlymembersofthecompany______________________________(享用使用这设施的权利).areentit
[originaltext]W:IknowyourcompanywasoneofthebiggestAmericancorporatio
【B1】[br]【B8】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
【B1】[br]【B7】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
【B1】[br]【B6】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
随机试题
OneadvantageofBLIisthatitcouldallowresearcherstoseehowatreatmenti
凡在实验室制作的马歇尔试件,高度超出误差规定都应视为废试件。()
下列根尖发育完成的恒牙牙体急性损伤中最容易并发牙髓坏死的是A.突出性脱位 B.
A.子宫性闭经 B.卵巢性闭经 C.垂体性闭经 D.下丘脑性闭经 E.以
下列各项,不属心脏听诊内容的是A:心律 B:心率 C:额外心音 D:枪击音
按照工程建设项目发展的内在规律,投资建设一个工程项目都要经过投资决策和建设实施两
断路器位置指示灯串联电阻是为了防止灯泡过电压。
每股收益最大化的缺点是没有考虑()。A:每股盈余取得的时间 B:利润和投入资本
甲油田是增值税一般纳税人,以1个月为一个纳税期缴纳增值税和资源税,2021年5月
活动隔墙与玻璃隔墙每批应至少抽查20%,并不得少于()间。A.3 B.4
最新回复
(
0
)