16. When the operators (agent) do not hold or hold a small number of shares, and the shareholders (principal) are too dispersed, the behavior that may be harmful to the shareholders is ( ).
A. Shareholders lose decision-making power over the enterprise
B. Operators may pursue blind diversification
C. Operators illegally embezzled the shareholders' equity
D. Operators control shareholders
E. Operators control the shareholders' meeting
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15. There are many motivations for corporate diversification. The following are the reasons for corporate diversification ( ).
A certain change in the internal and external environment of an enterprise may be an opportunity or a threat. Managers have the right to choose whether to pursue such stimuli
B. Managers may also make diversified strategic choices in pursuit of competitive advantage or personal interests
C. Enterprises pursue new opportunities
D. Managers pursue the maximization of personal interests
E. Spread corporate risks in a single industry
14. In the case of many market opportunities and imperfect external markets, the advantages that can be exerted through unrelated diversification strategies are ( ).
A. Play the role of financial leverage and become a "fund amplifier"
B. When the external capital market is imperfect, the headquarters of an unrelated diversified enterprise can play the role of "economic capital market" by playing the role of financial scope economy
C. Headquarters can use external and internal capital markets to implement mergers and acquisitions and reorganization to improve the enterprise's investment income and asset operation efficiency
D. Without deteriorating the capital structure, irrelevant diversification may reduce the systemic risk of the enterprise
E. Increase the economies of scale in unrelated businesses
13. UPS entered the core business area of FedEx-overnight delivery business, and FedEx also purchased trucks and other ground transportation vehicles, and entered the core business area of UPS-ground transportation business. In addition, DHL, Europe's strongest transportation enterprise, is trying to enter the US market. After China joined the WTO, these three top transportation companies launched fierce competition in the Chinese market. In order to increase the competitiveness and influence in the Chinese market, UPS can take advantage of the shared diversification advantages of enterprises, which of the following effective measures can be taken ( )
A. Use global competitive advantage to implement short-term subsidy strategy for the Chinese market
B. Restrain the competition between the other two giants through multi-point competition constraints
C. Use the advantages of different links in the value chain to implement reciprocal procurement and squeeze out small competitors
D. Quickly increase brand influence through high-density advertising
E. Improve strategic control of the market by forming strategic alliances with local resources
12. Shared related diversification is the diversified strategic choice with the highest economic benefit, and its main advantages are shown in ( )
A. Sharing of multiple activities may bring economies of scope and economies of scale
B. Transfer and promotion of core competence
C. Increase market competitiveness and influence
D. Increase market response speed
E. Reduce transaction costs