【GMAT考满分阅读RC题库】Findings from several studies on corporate mergers_真题_答案

GWD - 阅读RC - 228

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题目材料

Findings from several studies on corporate mergers and acquisitions during the 1970's and 1980's raise questions about why firms initiate and consummate such transactions. One study showed, for example, that acquiring firms were on average unable to maintain acquired firms' pre-merger levels of profitability. A second study concluded that post-acquisition gains to most acquiring firms were not adequate to cover the premiums paid to obtain acquired firms. A third demonstrated that, following the announcement of a prospective merger, the stock of the prospective acquiring firm tends to increase in value much less than does that of the firm for which it bids. Yet mergers and acquisitions remain common, and bidders continue to assert that their objectives are economic ones. Acquisitions may well have the desirable effect of channeling a nation's resources efficiently from less to more efficient sectors of its economy, but the individual acquisitions executives arranging these deals must see them as advancing either their own or their companies' private economic interests. It seems that factors having little to do with corporate economic interests explain acquisitions. These factors may include the incentive compensation of executives, lack of monitoring by boards of directors, and managerial error in estimating the value of firms targeted for acquisition. Alternatively, the acquisition acts of bidders may derive from modeling: a manager does what other managers do.

According to the passage, during the 1970's and 1980's bidding firms differed from the firms for which they bid in that bidding firms

Atended to be more profitable before a merger than after a merger
Bwere more often concerned about the impact of acquisitions on national economies
Cwere run by managers whose actions were modeled on those of other managers
Danticipated greater economic advantages from prospective mergers
Eexperienced less of an increase in stock value when a prospective merger was announced

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正确答案: E

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euphoriajune

题目问的是bidding firms和the firms for which they bid 的区别，也就是发动收购的公司和被收购的公司之间的区别。A选项是表达的是，发动收购的公司在收购前后的变化，是自己和自己比较。

2017-04-04 22:47:02 IP属地：北京举报

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vickiaro

acquiring firm就是bidding firms

2015-11-23 18:31:35 IP属地：湖南举报

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elaineyoung61

bidding firm 是收购方，问题的意思是收购方公司和被他收购的公司不同之处在于~定位
“A third demonstrated that, following the announcement of a prospective merger, the stock of the prospective acquiring firm tends to increase in value much less than does that of the firm for which it bids. ”
简单翻译一下，说的是收购方未来的股价增长值远远小于他收购的那个公司的股价。不就是折本了呗~

2015-08-19 20:32:51 IP属地：局域网举报

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endlesslisa

我也是错选A的，但是后来看看题目又想懂了。题目问的是bidding firms和the firms for which they bid 的区别，也就是发动收购的公司和被收购的公司之间的区别。A选项是表达的是，发动收购的公司在收购前后的变化，是自己和自己比较。而E是两者的对比，在原文可定位到：the stock of the prospective acquiring firm tends to increase in value much less than does that of the firm for which it bids. 所以选E。个人拙见，不知是否正确。

2015-10-21 14:26:57 IP属地：局域网举报

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旷世奇才啊回复 endlesslisa

错选A，也是没注意比较对象

2021-08-15 16:05:55 IP属地：局域网举报

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Cherylflower

此题对比的是收购方和被收购方的区别。A说的是收购方在收购前后的区别。 E中返回原文第三点说：收购方通常估价涨的不如被收购方那么多。原文中列举的三点中只有第三点对比的是收购方和被收购方，其余两点说的是收购方收购前后对比

2014-07-21 03:29:44 IP属地：北京举报

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YWang

为什么不是C呢? Alternatively, the acquisition acts of bidders may derive from modeling: a manager does what other managers do.

2014-10-09 18:54:14 IP属地：局域网举报

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lichkinggg 回复 YWang

对比的是收购公司和被收购公司，也许当时的经理都是收到这种影响的，并不只局限于收购公司。javascript:;

2019-08-06 14:39:40 IP属地：北京举报

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vickiaro

A选项是表达的是，发动收购的公司在收购前后的变化，是自己和自己比较。

2015-11-23 18:33:38 IP属地：湖南举报

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SophiaW

太绕了！都绕在题目上了，没看懂题目中说的bidding firm和被bid的firm就做不对题，这是有一个比较在里面的！

2016-04-17 17:55:17 IP属地：局域网举报

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Aaanitaaaaaa

“the stock of the prospective acquiring firm tends to increase in value much less than does that of the firm for which it bids.”

2019-08-23 16:19:09 IP属地：北京举报

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nibaba的baba

提问的是与被收购的公司相比，进行收购的公司怎样？
A: 原文说的这个选项的主体是acquired firm，不是acquiring firm
B. 从没提过公司还关心国家；
C. 确实是事实，但问题强调的是在两者的对比中，而不是他自己单纯的一个性质；
D. mergers怎么预测的原文没提过；
E. 第三个报告内容

2019-09-30 17:49:32 IP属地：北京举报

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正确率： 59%

难度：

选择材料题号

GWD

GWD
PREP07 Test 1
PREP07 Test 2
PREP2012
OG16
OG17
PREP08 Test 1
PREP08 Test 2
Manhattan
Magoosh
OG18
OG18-数学分册
OG18-语文分册
OG19
OG19-语文分册
OG19-数学分册
OG20
OG20-语文分册
OG20-数学分册

SET 1

题目来源

题目来源1:GWD

题目来源2:OG18-语文分册

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