高三英语培优外刊阅读 商贸话题 学案.docx
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1、高三英语培优外刊阅读班级:_学号:_姓名:_外刊精选从50页到700页,为什么企业上市招股书越来越长?1986年微软上市时的招股书只有50页,然而过了三十多年,在新上市公司的天价估值背后,招股说明书已经膨胀到了洋洋洒洒几百页。为什么上市公司的招股书越来越长?是否招股书页数越多,公司的市值就越高呢?IPO prospectuses: the long and longer of it Given the sky-high valuations achieved by market newbies, it is fitting that their prospectuses achieve equ
2、ally ridiculous bulk. US-listed ride-hailing apps Didi and Uber both bombarded would-be investors with about 400 pages of information. Paytm, listing in India, this month bested the duo with a 500-page “red herring”, as preliminary prospectuses are known.This is massive page inflation. Microsoft, go
3、ing public in 1986, said all it needed to in 50 pages. A couple of decades later Google weighed in at 230. There is little correlation between a prospectuss girth and market capitalisation. In Europe, the document for a sub-150m company is on average only a third shorter than those valued at 1bn-plu
4、s, says Oxera, a consultancy. Nor does it correlate with an extended spell as a private business: Microsoft spent just as long time in private hands as many of todays debutantes. Regulations, including provisions under Sarbanes-Oxley, only partly explain the verbosity. Likewise complexity. Some of t
5、he fodder in todays prospectuses is kindergarten-simple. Pictures and flow charts padded out Meituan Dianpings 700 pages. For investors, more is not necessarily better.Standardisation discourages scrutiny. Companies have followed Googles lead in displaying their civic stripes but have added new, oft
6、en unhelpful, metrics. Time to cut prospectuses and fantasy metrics down to size.【词汇过关】请写出下面文单词在文章中的中文意思。1.IPO_2.prospectus prspekts n. _3.given vn prep. _4.valuation vljuen n._5.newbie njubi n._6.fitting ft adj._7.bulk blk n. _8.bombard bmbd v. _9.would-be wdbi adj. _10.list lst v._11.best best vt.
7、 _12.inflation nflen n. _13.debutante debjutnt n. _14.verbosity vbsti n. _15.likewise lakwaz adv. _16.fodder fd n. _17.standardisation stnddazen n. _18.scrutiny skrutni n. _19.civic svk adj. _20.stripe strap n. _21.spell spel n._【词块学习】请从文章中找到下面中文相对应的文词块。1.降低某物的尺寸或者重要性_2.二重奏,二人组;两个有共同点的人_3比赛前量体重;加入比赛
8、_4.A和B之间的关联_5.和有关联_6.在私人投资者手中_7.拉长以看起来更多或更好_8.跟随某人的做法_拓展练习阅读理解In New York,Ma witnessed the Alibaba Group opening on the New York stock exchange with the largest initial public offering (IPO,新股发行) in American history.“Alibaba,the worlds largest Internet commerce company makes China equal to the US in
9、 the rapidly increasing global competition for technological innovation (创新) and economic transformation,” commented the South China Morning Post.It has also made Ma Chinas richest man with a fortune of around$25 billion (153 billion yuan),reported Reuters.Its reported that Mas ragstoriches journey
10、is just as spectacular as his Internet empire.Ma failed the national college entrance exams twice before he was finally in Hangzhou Normal University on his third attempt and failed in finding a suitable job several times.Also,Mr Ma is a big believer in perseverance,which was proved in his English s
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