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
2024-05-21
39
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/3605184.html
相关试题推荐
Harry,thesecretaryofourcompany,isspokenhighlyofasheis___________at
Thecompanyformulatedapackageof______forassessmentofemployees’performan
Thepublishingcompanyofferstheirstaffopportunitiesfor______indecision-m
Theyclaimedthatwhattheyhavedonewasto_________thecompany’sgoodname.A
Yourchildistooyoungtoplayfootball.Youhadbetterhavehim_______table
Thecompanyhadhugedebtsandwasonthe______ofcollapse.A、glareB、peerC、bl
Whatthecorporationneedsdesperatelyisahuge______ofcashandbettertrain
Itisimpossibletogiveanaccurate______ofcompanysales10yearsfromnow.A
Thecompanyhadtherightto______hisemploymentatanytime.A、terminateB、per
Thecompanyformulatedapackageof______forassessmentofemployees’performa
随机试题
Thetwomenhavebeenveryintimateandreliablefriendsthroughouttheirlives.
______youradvice,Iwouldhavemadethewrongdecision.A、Hadn’titbeenforB、H
December1st,2014
投资者预计大豆不同月份的期货合约价差将扩大,故买入1手7月大豆期货合约,价格为4920元/吨,同时卖出1手9月大豆期货合约,价格为4870元/吨,则该投资者
统一就是把同类事物两种以上的表现形式归并为一种,或限定在一个范围内的标准化形式。
一般来说,()又被称为“金边债券”。A.金融债 B.公司债 C.国债 D
代理是指代理人以被代理人的名义,在代理权限内与第三人所为的法律行为的民事法律制度
(2021年真题)赵某和陈某共同在网上侮辱周某,对周某名誉造成较大损害。周某向法
购买性支出与转移性支出对经济的影响不同,可以体现为()。A.对社会的生产
下列属于抗凝药的是( )。A.尿激酶 B.低分子肝素 C.链激酶 D.阿
最新回复
(
0
)