首页
登录
职称英语
Over the past decade, American companies have tried hard to find ways to dis
Over the past decade, American companies have tried hard to find ways to dis
游客
2024-02-20
33
管理
问题
Over the past decade, American companies have tried hard to find ways to discourage senior managers from feathering their own nests at the expense of their shareholders. The three most popular reforms have been recruiting more outside directors in order to make boards more independent, linking bosses’ pay to various performance measures, and giving bosses share options so that they have the same long-term interests as their shareholders.
These reforms have been widely adopted by America’s larger companies, and surveys suggest that many more companies are thinking of following their lead. But have they done any good? Three papers presented at the annual meeting of the Academy of Management in Boston this week suggest not. As is usually the case with boardroom tinkering, the consequences have differed from those intended.
Start with those independent boards. On the face of it, dismissing the boss’s friends from the board and replacing them with outsiders looks a perfect way to make senior managers more accountable. But that is not the conclusion of a study by Professor James Westphal. Instead, he found that bosses with a boardroom full of outsiders spend much of their time building alliances, doing personal favors and generally pleasing the outsiders.
All too often, these seductions succeed. Mr. Westphal found that, to a remarkable degree, "independent" boards pursue strategies that are likely to favor senior managers rather than shareholders. Such companies diversify their business, increase the pay of executives and weaken the link between pay and performances. To assess the impact of performance-related pay, Mr. Westphal asked the bosses of 103 companies with sales of over $1 billion what measurements were used to determine their pay. The measurements varied widely, ranging from sales to earnings per share. But these researchers uncovered a startling finding: executives "attend to measures that affect their own incomes and ignore or play down other factors that determine a company’s overall success".
In short, bosses are quick to turn every imaginable system of corporate government to their advantage, which is probably why they are the people who are put in charge of things. Here is a paradox for the management theorists: any boss who cannot beat a system designed to keep him under control is probably not worth having. [br] Professor James Westphal’s study suggests that______.
选项
A、boardroom reforms have failed to achieve the desired result
B、outside board directors tend to be more independent
C、with a boardroom full of outsiders, senior managers work more carefully
D、cooperation between senior managers and board directors suffered from the reforms
答案
A
解析
第二段末句提到,the consequences have differed from those intended,由此可知,改革的结果事与愿违,这是一个总的结论。第三、四、五段是具体说明,主要是引用了Westphal的调查结果,故答案为[A]。
转载请注明原文地址:https://tihaiku.com/zcyy/3467977.html
相关试题推荐
Americanseat____________(超过一倍)astheyactuallyneedeveryday.twiceasmuch
"InterestinlearningChineseamongAmericanyouthandtheirparentshasgro
"InterestinlearningChineseamongAmericanyouthandtheirparentshasgro
"InterestinlearningChineseamongAmericanyouthandtheirparentshasgro
ThelargeAmericanenergyservicecompany,Enron,failedtwoyearsago.Ith
ThelargeAmericanenergyservicecompany,Enron,failedtwoyearsago.Ith
ThelargeAmericanenergyservicecompany,Enron,failedtwoyearsago.Ith
MostAmericansstartschoolattheageoffivewhentheyenter【B1】______Chil
MostAmericansstartschoolattheageoffivewhentheyenter【B1】______Chil
MostAmericansstartschoolattheageoffivewhentheyenter【B1】______Chil
随机试题
Hippiesweremembersofayouthmovementofthe1960’sand1970’sthatstart
Bicyclesharinghasbeenahotlydebatedtopicoverthepasttwoyears.Bicycles
Tobesuccessfulinajob【B1】______,youshould【B2】______certainpersonal
Strictlyspeaking,ChristmasisthecelebrationofthebirthofJesusforpeople
十九大报告提出一个新目标,即“在本世纪中叶建成()的社会主义现代化强国。
“机械设置”对话框中下述()项的设置,主要用来设置图元之间交叉、发生遮挡关系时的
国际船舶登记制度中较为成功的是( )国际船舶登记制度。A.日本 B.美国
各种运输方式内外部的各个方面的构成和联系,就是( )。 A.运输系统
建设单位应当将大型的人员密集场所和其他特殊建筑工程的消防设计文件报送公安机关消防
某毛石混凝土条形基础顶面的墙体宽度0.72m,毛石混凝土强度等级C15,基底埋深
最新回复
(
0
)