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
2023-09-06
21
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] What may borrowers suffer from the violent movements in exchange rates?
选项
答案
Breaches of loan agreements.
解析
由题干中的violent movements in exchange rates将本题出处定位于第三段。第一句提到,剧烈的汇率波动会造成新的麻烦,第二句具体指出了这个麻烦的内容原先的计算可能会被彻底推翻,造成贷款协议的破裂(breaches of loan agreements)。对于借款人来说,这个麻烦指的是贷款协议的破裂,银行不愿借钱了,由此可知答案。
转载请注明原文地址:https://tihaiku.com/zcyy/2989987.html
相关试题推荐
Itturnedoutthatgettingfiredfromthatcompany______(对我来说是发生在我身上的最棒的事情).wa
[originaltext]M:Hello,NationalExpressCourierCompany,CustomerServiceDepa
[originaltext]M:Hello,NationalExpressCourierCompany,CustomerServiceDepa
Itturnedoutthatgettingfiredfromthatcompany___________________________(
[originaltext]M:Hello,NationalExpressCourierCompany,CustomerServiceDepa
[originaltext]M:Hello,NationalExpressCourierCompany,CustomerServiceDepa
[originaltext]M:Hello,NationalExpressCourierCompany,CustomerServiceDepa
Conventionalwisdomsaysthatitisbettertobealargecompanythanasma
Conventionalwisdomsaysthatitisbettertobealargecompanythanasma
Igetalongbetterwithothers__________(既然我已消除了内疚).nowthatI’vegotridofmy
随机试题
Whatdowethinkwith?Onlythebrain?Hardly.Thebrainislikeatelephone
[originaltext]Therearefourtypesofcollegedegrees,startingwiththeass
在现场钉桩后()天内,承包人应将设计和进场复测的土方横断面因连同土方的面积
如图求U=()。 A.-4/5V B.-2V C.4/5V D.2V
发送方用数字信封技术向接收方传递一段交易信息时,使用( )加密对称密钥。A.接
以下对项目管理和项目监理的理解中,正确的是( )。A.项目监理属于项目管理的监
下列关于石质路堑施工中路床清理及验收的相关说法不正确的是()。A.超挖部分应采用
下列除哪项外均是败毒散的组成药物A.枳壳 B.茯苓 C.桔梗 D.人参
在运用多元回归分析法进行房地产估价时,其中的自变量和因变量分别为()。A.
论述在实际教学中如何培养学生的学习动机。
最新回复
(
0
)