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【正文】 s23. According to the researchers from Ohio University after an outside director’s surprise departure, the firm is likely to .[A]gaining excessive profits[B]failing to fulfill her duty[C]refusing to make promises[D]leaving the board in tough times22. We learn from Paragraph 2 that outside directors are supposed to be how could she have let those enormous bonus payouts pass unremarked? By February the next year Ms. Simmons had left the board. The position was just taking up too much time, she said.Outside directors are supposed to serve as helpful, yet less biased, advisers on a firm’s board. Having made their wealth and their reputations elsewhere, they presumably have enough independence to disagree with the chief executive’s proposals. If the sky, and the share price is falling, outside directors should be able to give advice based on having weathered their own crises.The researchers from Ohio University used a database hat covered more than 10,000 firms and more than 64,000 different directors between 1989 and 2004. Then they simply checked which directors stayed from one proxy statement to the next. The most likely reason for departing a board was age, so the researchers concentrated on those “surprise” disappearances by directors under the age of 70. They fount that after a surprise departure, the probability that the pany will subsequently have to restate earnings increased by nearly 20%. The likelihood of being named in a federal classaction lawsuit also increases, and the stock is likely to perform worse. The effect tended to be larger for larger firms. Although a correlation between them leaving and subsequent bad performance at the firm is suggestive, it does not mean that such directors are always jumping off a sinking ship. Often they “trade up.” Leaving riskier, smaller firms for larger and more stable firms.But the researchers believe that outside directors have an easier time of avoiding a blow to their reputations if they leave a firm before bad news breaks, even if a review of history shows they were on the board at the time any wrongdoing occurred. Firms who want to keep their outside directors through tough times may have to create incentives. Otherwise outside directors will follow the example of Ms. Simmons, once again very popular on campus.21. According to Paragraph 1, Ms. Simmons was criticized forto register and identify themselves, in the same way that drivers must be licensed to drive on public roads.1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. on on in in12. vain effect return contrast13. 14. 15. 16. 17. 18. 19. 20. Section II by some puter security experts, who worry that the “voluntary ecosystem” envisioned by Mr. Schmidt would still leave much of the Internet others are concerned. It seems clear that such a scheme is an initiative push toward what would1513 864 bringing safety and security to a world that seems increasingly1 across the Web.Can privacy be preserved 3to make the Web a safer placea “voluntary trusted identity” system that would be the hightech one. The system might use a smart identity card, or a digital credential a federation of private online identity systems. User could 1011 munity.Mr. Schmidt described it as a “voluntary ecosystem” in which “individuals and organizations can plete online transactions with which the transaction runs”.Still, the administration’s plan has 17 19 .[A]readers threatened to pay less[B]newspapers wanted to reduce costs[C]journalists reported little about these areas[D]subscribers plained about slimmer products28. Compared with their American counterparts, Japanese newspapers are much more stable because they Architecture magazine between 1945 and 1962 were yet another homegrown influence on the “l(fā)ess is more” trend. Aesthetic effect came from the landscape, new materials and forthright detailing. In his Case Study House, Ralph everyday life – few A
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