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
2
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] Companies could directly borrow money from the federal government through______
选项
答案
the Fed’s program to buy commercial paper
解析
最后一段中提到了政府支持信贷市场的两种方式。第一种是根据计划直接购买公司短期债券(theFed’s program to buy commercial paper),第二种是为公司发行债券提供支持。题干问的是第一种。
转载请注明原文地址:https://tihaiku.com/zcyy/3605187.html
相关试题推荐
Igetalongbetterwithothers__________(既然我已消除了内疚).nowthatI’vegotridofmy
Awordprocessorisbetterthanatypewriterinthat______(它使文本的编辑变得更容易).iten
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
Googlemustbethemostambitiouscompanyintheworld.Itsstatedgoal,"to
【B1】[br]【B11】[originaltext]Stayinghealthyhelpsmakeyouabetterworker
【B1】[br]【B9】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
【B1】[br]【B8】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
【B1】[br]【B7】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
【B1】[br]【B5】[originaltext]Stayinghealthyhelpsmakeyouabetterworkero
随机试题
ABestFriend?YouMustBeKidding![A]Fromthetimetheymeti
[originaltext]M:Ilikethatsmallcalculatorverymuch.IhopeIcanhaveone
[originaltext]W:It’sreallyabigproblemtoteachourchildrenhowtobehave.
异常信息一般来自质量检查。
治疗蛔虫病、鞭虫病和蛲虫病菌选()A:伊维菌素 B:阿苯达唑 C:甲苯咪唑
可摘局部义齿戴入口内后,调好的咬合标志是A.患者自诉无高点 B.人工牙上印出的
共用题干 资料:随着人们接受教育程度的要求越来越高,教育费用也在持续上涨,家长
卖点与项目定位的不同在于()。A.卖点具有个性化 B.卖点必须得到客户认同
该公司与某购房人签订了一套合同面积为100平方米的购房合同,售价为每平方米350
在3个率比较的χ检验中,有两格理论数分别为T=4.46T=0.76,正确的比较方
最新回复
(
0
)