One study found staggered boards improve long-term operating performance among newly public companies.

一项研究显示，分期分级董事会制度有助于改善新上市企业的长期运营绩效。

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Over the last 10 years, the prevalence of staggered boards has decreased, from 57% of companies in 2005 to 32% in 2014.

过去10年内，采取分期分级董事会制度的企业大大减少，从2005年的57%下降到了2014年的32%。

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Many people regard it as staggered boards, claiming that the management should be permitted to adopt modest anti-takeover measures.

很多人认为这种做法属于交错董事会制度，主张应当允许管理层采取这种较为温和的反收购措施。

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Using US data, we find that adopting say-on-pay, a regular non-binding shareholder vote on executive compensation (similar to issue 1 in the Swiss referendum, although it will be a binding vote in Switzerland) and removing staggered boards (similar to issue) along with other corporate governance improvements unambiguously improves firm value on average, as reflected by the stock market.

FORBES: Have The Swiss Gone Cuckoo?