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(To have/Having) exceeded the company’s annual goals for productivity, all employees in A corporation’s manufacturing division received a bonus.

I don't choose what is the correct answer to it.

In my opinion, both are correct, though there might be a little difference between them in meaning.

I want to know the right answer and the reason.

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In the world of programming, there is a simple construction that illustrates this issue:

IF (condition) THEN (result)

Applying your example statement:

IF (exceeded the productivity goals) THEN (employees received bonus)

But, and this is very important, the condition in your statement has already been fulfilled. It happened in the past. That's a hint: your word choice will have something to do with the past tense and fulfilling a condition.

The solution is the perfect participle, which always reflects the past tense. The perfect participle of "to have" always has the form "having verbed." In this case, "having exceeded."

The nominal, "to have," is present tense, and therefore cannot be used to indicate the completion of a condition in the past.

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Having exceeded the company’s annual goals for productivity, all employees in A corporation’s manufacturing division received a bonus.

Having is correct, I'm not sure where you're getting to have from.

  • Is the reason why 'to have exceeded' is not proper that it is just so ambiguous, if written there, as to interpret the sentence in two ways and cannot fix the time line as to whether it is implying the future perfect event or the present perfect event ? – Zenith Jul 25 '18 at 7:38
  • To have X'd is used to refer to the concept of having done the verb. So, for example, to have loved refers to the concept of having loved in the past. This, effectively, turns the clause into your subject (I'm sure a learned grammatician will have a better explanation of the concept, but this shortcut will do for now). As such, breaking down the sentence beginning with to have exceeded... gets you subject, main clause. That, of course, is nonsense. Meanwhile, having done X is a subordinate clause, and the subordinate clause, main clause construction is fine. – Omegastick Jul 25 '18 at 7:48

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