如何看出老板在撒谎 经济学人杂志 双语阅读 Economist How to tell when your boss is lying

如何看出老板在撒谎 经济学人杂志 双语阅读 Economist How to tell when your boss is lying
如何看出老板在撒谎 经济学人杂志 双语阅读 Economist How to tell when your boss is lying

Economist 英汉双语阅读“经济学人”杂志

2010年8月19日

正文:

Corporate psychology

How to tell when your boss is lying

It's not just that his lips are moving

Aug 19th 2010

“ASSHOLE!” That was what Jeff Skilling, the boss of Enron, called an investor who challenged his rosy account of his firm’s financial health. Other bosses usually give less obvious clues that they are lying. Happily, a new study reveals what those clues are.

David Larcker and Anastasia Zakolyukina of Stanford’s Graduate School of Business analysed the transcripts of nearly 30,000 conference calls by American chief executives and chief financial officers between 2003 and 2007. They noted each boss’s choice o f words, and how he delivered them. They drew on psychological studies that show how people speak differently when they are fibbing, testing whether these “tells” were more common during calls to discuss profits that were later “materially restated”, as th e euphemism goes. They published their findings in a paper called “Detecting Deceptive Discussions in Conference Calls”.

Deceptive bosses, it transpires, tend to make more references to general knowledge (“as you know…”), and refer less to shareholder valu e (perhaps to minimise the risk of a lawsuit, the authors hypothesise). They also use fewer “non-extreme positive emotion words”. That is, instead of describing something as “good”, they call it “fantastic”. The aim is to “sound more persuasive” while talk ing horsefeathers.

When they are lying, bosses avoid the word “I”, opting instead for the third person. They use fewer “hesitation words”, such as “um” and “er”, suggesting that they may have been coached in their deception. As with Mr Skilling’s “asshole”, more frequent use of swear words indicates deception. These results were significant, and arguably would have been even stronger had the authors been able to distinguish between executives who knowingly misled and those who did so unwittingly. They had to assume that every restatement was the result of deliberate deception; but the psychological traits they tested for would only appear in a person who knew he was lying.

This study should help investors glean valuable new insights from conference calls. Alas, this benefit may diminish over time. The real winners will be public-relations firms, which now know to coach the boss to hesitate more, swear less and avoid excessive expressions of positive emotion. Expect “fantastic” results to become a thing of the past.

Business

Chinese Translation 中文翻译

公司心理学

如何看出老板在撒谎

可不只是看他动动嘴唇那么简单

Aug 19th 2010

“狗屁!”Enron公司老板Jeff Skilling对一名投资者叫道,这位投资者对老板有关其公司财务健康状况的美好描述提出了质疑。别的老板撒谎时,通常不会给人很多明显线索。幸运的是,一项新的研究告诉我们这些明显和不明显的线索都是什么。

斯坦福商学院研究生院的David Larcker和Anastasia Zakolyukina分析了2003年至2007年间美

国首席执行官和首席财务官的近30,000份电话会议纪录,记录每位老板的措辞及说话方式。通过

测试老板在电话中讨论盈利状况时,“具体的,等随后再说”这类委婉语“表达”模式是否更为常见,结合心理学研究,他们想要揭示,在撒些无伤大雅的小谎时,人们的说话方式有何不同。该项

研究成果在论文“找出电话会议中的欺骗”中发布。

该论文透露,欺骗性的老板总是更多的提及大家都知道的(“你知道……”),较少提及股东的价

值(也许是要把法律诉讼的风险降到最低,据作者揣测)。他们还几乎不使用“非极端积极情感词汇”,即,不说“好”,而说“棒极了”,这样做的目的,是要让他们的胡说八道“听起来会更

有说服力”。

撒谎时,老板们会避免使用“我”这个词,相反,他们会使用第三人称。他们较少使用像“嗯”、“哦”之类的“踌躇不决词汇”,这表明他们的行骗已经训练有素。像Skilling先生的“狗屁”

一样,高频度使用骂人词汇也表明是在欺骗。这些发现结果很有意义,要是作者能够区分故意为之

的欺诈老板与那些笨而不自知的欺诈老板的话,就会更有意义。两位作者只能推断,所有的“事后

再说”都是在故意欺骗;但是,他们所进行的测试中,符合欺骗的心理学特征的老板中,只有一人

知道自己在欺骗。

该研究有助于帮助投资者从电话会议中找出有价值的新思路。哎呀,这个好处会随着时间的推移而

消失。真正的赢家会是公共关系公司,他们现在就知道了该训练老板说话时要经常表现得犹豫不决、要少骂人、要避免积极情感的过度表达等。期望该研究那些“棒极了”的好处能够很快成为过去时。

译者:A.Little.Boat

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经济学人杂志双语阅读:Fatalism v fetishism宿命论VS进口至上说 Economics focus 经济聚焦 Fatalism v fetishism 宿命论VS进口至上说 Jun 11th 2009 From The Economist print edition How will developing countries grow after the financial crisis? 金融危机后发展中国家将如何成长? FORTY years ago Singapore, now home to the world's busiest port, was a forlorn outpost still garrisoned by the British. In 1961 South Korea was less industrialised than the communist north and dependent on American aid. In 1978 China's exports amounted to less than 5% of its GDP. These countries, and many of their neighbours, have since traded their way out of poverty. Given their success, it is easy to forget that some development economists were once prey to “export fatalism”. Poor countries, they believed, had little to gain from venturing into the world market. If they tried to expand their exports, they would thwart each other, driving down the price of their commodities. 现今世界最繁忙的港口坐落于新加坡-在40年前它还只是英国人驻军的遥远哨所。1961年的南朝鲜靠美国援助度日,在产业化的路上远远落后于他们北面的社会主义邻居。1987年的中国出口额占GDP总量不到5%。之后,这些国家和他们的邻居们靠开放商路脱离了贫穷。在这些国家成功的光环下,过去许多发展经济学家深受“出口宿命说”(注一)折磨的往事被淡忘了。他们曾经相信,穷国投身全球市场并无利可图。一旦他们试图扩大出口,那么穷国之间便会互相伤害并造成他们出产的商品价格下降。 The financial crisis of the past nine months is stirring a new export fatalism in the minds of some economists. Even after the global economy recovers, developing countries may find it harder to pursue a policy of “export-led growth”, which served countries like South Korea so well. Under this strategy, sometimes called “export fetishism”, countries spur sales abroad, often by keeping their curr encies cheap. Some save the proceeds in foreign-currency reserves, rather than spending them on imports. This strategy is one reason why the developing world's current-account surplus exceeded $700 billion in 2008, as measured by the IMF. In the past, these surpluses were offset by American deficits. But America may now rethink the bargain. This imbalance, whereby foreigners sell their goods to America in exchange for its assets, was one potential cause of the country's financial crisis. 过去九个月里的金融危机在某些经济学家的脑海里搅起了新的出口宿命论。就算是在金融危机过后,也许发展中 国家也可能会觉得他们要想采用那种使南朝鲜一类的国家受益颇多的“出口带动型增长”政策变得更加困难了。在这种被称为“出口至上主义”的策略下,政府常以保持本国货币的廉价来激励跨国贸易。一些国家选择把出口收益存入外汇储备,而不是用它们来进口。国际货币基金组织统计出,2008年发展中国家的经常账户(注二)有7千亿美元的结余,这(出口至上主义的策略)也许就是原因之一。在过去,这些结余会被美国的贸易逆差抵消。但是美国现在可能要重新考虑一下

经济学人双语版1

Europe's debt crisis 欧洲债务危机 Spot the pattern 看变化模式 Jul 5th 2011, 18:55 by R.A. | WASHINGTON 2011年7月5日18:55 R.A./华盛顿 HERE'S a chart showing the yields on 10-year Greek debt over the past three months. See the pattern? 本图显示的是在过去3个月10年期希腊债券的收益率。变化模式看清楚了吧? There's a spike, followed by a decline, followed by a higher spike, followed by a decline to a higher trough, and so on. European leaders keep taking steps to avert disaster, and each time markets are less assuaged. 有个尖峰,接着是下跌,然后又是稍高一些的尖峰,接着跌入一个较高的波谷,如此反复。欧洲国家的领导人一直在采取措施避免灾难,而每一次市场都没有大的起色。 The latest spike corresponds to the stalemate over the IMF's willingness to continue making bail-out payments without a new, long-term rescue package in place (and the corresponding disagreement over how to rollover Greek debt, plus the drama surrounding the passage of Greece's new austerity plan). The IMF agreed to keep paying, French and German banks seemed willing to sign on to a rollover plan, and Greece got its new austerity programme through parliament. But it wasn't long before trouble kicked up again. 最近的尖峰反映了这样一个困境:国际货币基金组织愿意继续救助,但又没有制定出一个长期的一揽子救助计划(同时也反映出如何缓解希腊债务各方存在分歧,以及希腊的新紧缩计划能否通过依然有变数)。国际货币基金组织同意继续提供支付,法国和德国的银行似乎愿意签署资金周转计划书,希腊国会通过了新的紧缩计划。但是,没过多久,麻烦又来了。 Moody's and Standard and Poor's have both suggested that the agreed-upon rollover plan might well constitute a default. Since that's precisely the outcome European leaders were hoping to avoid, this news has sent everyone scurrying to come up with a new and better deal. Meanwhile, Moody's has cut Portugal's debt rating to junk. Portugal may well need a new rescue package, which will surely include debate over the fate of creditors, which will mean more questions about bank finances and more brinksmanship. And the European economy continues to slow, even as the European Central Bank continues to tighten policy. 穆迪和标准普尔都暗示,商定好的周转计划很可能得不到执行。因为这种结果正是欧洲国家的领导人们想避免的,所以这条消息让每个人都急不可待地要制定出一个新的、更好的解决办法。与此同时,穆迪公司已经将葡萄牙的债务评级降至垃圾级。葡萄牙很可能需要一个新的一揽子救援计划,这必将包括对债权人命运的辩论,而辩论的内容将更多的是关于银行财政方面的问题和边缘政策。欧洲经济增长速度持续放缓,尽管欧洲央行继续收紧货币政策。 I don't know that there's any broad lesson here, other than: for all the steps already taken by European leaders, the euro zone hasn't really gotten any closer to solving the underlying issues of insolvency and institutional weakness.

经济学人中英对照文章 Northern lights

Northern lights 北极光 The Nordic countries are reinventing their model of capitalism, says Adrian Wooldridge 艾德里-伍尔德里奇(Adrian Wooldridge)指出北欧国家正在重塑它们的资本主义模式 THIRTY YEARS AGO Margaret Thatcher turned Britain into the world’s leading centre of “thinking the unthinkable”. Today that distinction has pas sed to Sweden. The streets of Stockholm are awash with the blood of sacred cows. The think-tanks are brimful of new ideas. The erstwhile champion of the “third way” is now pursuing a far more interesting brand of politics. 三十年前马格丽特-撒切尔(Margaret Thatcher)将英国转变成了一个在全世界首屈一指“敢于想不可想象之事”的中心。今天这项荣耀则移到了瑞典头上。斯德哥尔摩的大街上充满着打破禁忌局限所产生的新气象。智囊机构的好点子层出不穷。之前身为“第三条道路”[1]的拥护者,如今瑞典所追求的政治模式要比过去有趣得多。 Sweden has reduced public spending as a proportion of GDP from 67% in 1993 to 49% today. It could soon have a smaller state than Britain. It has also cut the top marginal tax rate by 27 percentage points since 1983, to 57%, and scrapped a mare’s nest of taxes on property, gifts, wealth and inheritance. This year it is cutting the corporate-tax rate from 26.3% to 22%. 瑞典政府开支占国民生产总值(GDP)的比例已从1993年的67%降到了今天的49%。很快其政府规模将会比英国更小。同时,瑞典的最高边际税率已降到了57%,比1983年整整低了27个百分点,而且瑞典政府也已取消了大量混乱不堪的财产税,馈赠税以及继承税。今年瑞典将会把企业所得税从26.3%下调到22%。 Sweden has also donned the golden straitjacket of fiscal orthodoxy with its pledge to produce a fiscal surplus over the economic cycle. Its public debt fell from 70% of GDP in 1993 to 37% in 2010, and its budget moved from an 11% deficit to a surplus of 0.3% over the same period. This allowed a country with a small, open economy to recover quickly from the financial storm of 2007-08. Sweden has also put its pension system on a sound foundation, replacing a defined-benefit system with a defined-contribution one and making automatic adjustments for longer life expectancy. 瑞典也披上了“黄金紧身衣”[2]——承诺会在这个经济周期内达到财政预算盈余。其政府债务占GDP的比例已从已从1993年的70%减少到了2010年的37%。同期瑞典政府预算也从11%的赤字转变至0.3%的盈余。所有这些行动使这个开放的小经济体迅速地从2007-08的金融风暴中恢复过来。瑞典同时也打稳了其退休金制度的基础,将约定提存制度改成了约定给付制度[3],并让退休金根据平均寿命的增长自动进行调整。

2015经济学人双语阅读

2015经济学人双语阅读 London Fashion Week WITH its whirl of frocks, models and million-dollar deals London Fashion Week has always been rather a closeted affair, accessible to few. Amateur fashionistas have had to wait for glossy magazines and blogs to tell them what to wear next. But at the second of London's biannual fairs, which ran from September 13th to 17th, that was starting to change. Around half the shows were live-streamed to the internet and TV channels with bulletins broadcast to commuters waiting at underground Tube stops. A free pop-up cinema screened fashion-themed films. This push to bring Fashion Week to a wider audience is likely to pay off. Though unaffordable to most shoppers, high fashion is the beating heart of high-street retail. More wearable versions of the transparent outfits that entertained audiences in London this month will soon appear in shops up and down the country. In the week following last September's shows, online fashion sales were up 45%, according to Ve Interactive, an e-commerce firm. Caroline Rush, chief executive of the British Fashion Council (BFC), which organises Fashion Week, expects that the digital buzz surrounding the event will push buyers' orders well beyond £100m ($160m). The changes seen at the shows are part of a wider effort to bring a businesslike approach to British fashion. London has long been feted as a breeding ground for brilliant designers. Many of them, including John Galliano and Alexander McQueen, trained at Central St Martins, a college known for turning out skilful originals. But a tendency to focus on art over business has meant that too many designers have failed to make the most of their critical acclaim. London Fashion

《经济学人》双语阅读1.服装零售

Clothes Retailing: The Forgotten Majority The fashion industry blatently pays attention to plus-size women. A good fit is everything, stylists often counsel, but in assessing its market America's fashion business appears to have mislaid the measuring tape. A frequently-cited study done a few years ago by Plunkett Research, a market-research firm, found that 67% of American women were “plus-size”, meaning size 14 or larger. That figure will not have changed much, but in 2016, only 18% of clothing sold was plus-size, according to NPD Group, another research firm. Designers and retailers have long thought of the plus-size segment as high-risk. Predicting what these customers will buy can be difficult, as they tend to be more cautious about styles. Making larger clothes is more expensive; higher costs for fabric cannot always be passed on to consumers. In turn, plus-size women shopped less because the industry was not serving them well. “We have money but nowhere to spend it,” says Kristine Thompson, who run s a blog called Trendy Curvy and has nearly 150,000 followers on Instagram, a social-media site. At last, that is changing. Fast-fashion brands, including Forever 21 and a fashion line sold in partnership with Target, a giant retailer, have expanded their plus-size collections. Lane Bryant, a plus-size retailer, and Prabal Garung, a designer, have done the same. In March Nike extended its “X-sized” sportswear range. Revenue in the plus-size category increased by 14% between 2013 and 2016, compared with growth of 7% for all apparel. Takings were $21.3bn last year. Social media has played an important role in changing attitudes in the fashion business, says Madeline Jones, editor and co-founder of PLUS Model Magazine. Nonetheless, designer brands still hold back (Walmart sells the most plus-size apparel). Some brands, such as Michael Kors, do sell plus-size ranges but do not advertise them or display them on websites. For those that are willing to take a chance, several internet startups that deliver personally styled outfits to individuals, including plus-size women, offer data to “straight-size” designers. Gwynnie Bee, Stitch Fix and Dia & Co, for example, share information with designers on preferred styles and fits. Tracy Reese, a designer known for creating Michelle Obama's dress for the Democratic National Convention in 2012, is one brand that recently enlisted Gwynnie Bee's help to create a new plus-size collection.

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