| Commodity (109) |  |
| Deflation (10) | |
| Disinflation (3) | |
| Economics (2104) | |
| Economy (6659) | |
| Fiscal policy (11) | |
| Gross margin (5) | |
| Gross profit (3) | |
| Inflation (382) | |
| Liquidity (22) | |
| Macroeconomics (21) | |
| Marginal cost (24) | |
| National income (22) | |
| Opportunity cost (14) | |
| Reflation (3) | |
| Shareholder (126) | |
| Stagflation (3) | |
| Stakeholder (1969) | |
either from shareholders or other stakeholders †to be open for the sake of it,
G#2v 2375 Shareholder 0#3#shareholder Shareholder 0#3#shareholding Shareholder G#2v 2376 Stagflation
0#3#stagflation Stagflation G#2v 2377 Stakeholder 0#3#stakeholder Stakeholder G#1v 12682 Elastic
0#2#elastic Elastic G#1v 12718 Elevator pitch 0#2#elevator pitch Elevator pitch G#1v 12683 Enterprise
Shareholder Supervisory Board Adlershof Projekt Gmbh Adlershof Facility Management Gmbh Innovationszentrum Berlin Management Gmbh Subsidiary
and guarantees ranking ahead of shareholder subordinated debt â mezzanine finance, including high-yield debt for SMES experiencing high-growth or are
shareholder it is hard to define strictly the funding source Private funding consists mainly of loans, bonds and equities.
the project had 15 shareholders, a consortium of 10 construction companies Transmanche link (TML) and 5 banks.
The shareholders were evenly from France and England. The construction consortium made a design and build contract with
The first equity package came from the original 15 shareholders in the beginning of the project. The tunnel project and the shareholders went through critical times when
Equity package 2 was accepted, and it made the original project promoters minor shareholders. Before equity package 3 could be accepted the project needed more
financing. European Investment Bank provided the tunnel project a loan, the deal was signed by a group of 50 banks
committed shareholding structure Although the European commission issued an action plan to improve access to finance for
Facing growing competition and shorter-term performance pressures from shareholders managers resorted to waves of restructuring, personnel reductions,
ï Social enterprises are driven not solely by the need to maximise profit for shareholders and
objective is to achieve social impact rather than generating profit for owners and shareholders which operates in the market through the production of goods and services in an entrepreneurial
Furthermore, since employees are long-term shareholders, broadening employee shareholding would also stabilise capital markets. ESO is of particular impor
-tance for SMES (financing and business succession Despite their positive effects, as acknowledged in numerous EU reports, opinions and
creating different categories of shareholder; by giving particular groups voting rights; or golden shares. These arrangements can be fixed
trusts, with a further 95 supporters†trusts having shareholdings in their clubs. There has also been a growth of †New Mutualismâ€,
as an annoying necessity where small shareholders can vent their anger Social movements, by contrast, use AGMS to reinforce commitments to the
124) Consumer shareholding can be used to involve consumers more directly in the work of a venture, both directly, and through
Cafã direct opted to have a share issue geared to small shareholders as a means of raising finance
It has 2, 400 shareholders. Image courtesy of Andrew Watson 4 80 THE OPEN BOOK OF SOCIAL INNOVATION
of shareholders and savers in the company†s decision making process must be encouraged; each organisation which accepts
*Extent of shareholder governance index (0 -10 7. 5 7. 5 7. 8 6. 8 7. 3 5. 8 7. 7 7. 3 France (7. 8
several shareholders join forces to start a company Formally registered companies have access to services and institutions from courts to banks as well
shareholder participation in major decisions of the company and set detailed standards of accountability for company insiders
extent of shareholder governance index. To make the data comparable across economies, a case study uses
multiple shareholders ï Has a board of directors and a chief executive officer (CEO) who may legally act on behalf of
shareholder of the company, proposes that the company purchase used trucks from another company he owns
ï Shareholders sue the interested parties and the members of the board of directors WHAT THE PROTECTING MINORITY
Ability of minority shareholders to sue and hold interested directors liable for prejudicial related-party transactions
Ease of shareholder suits index (0†10 Access to internal corporate documents; Evidence obtainable during trial and allocation of legal expenses
and ease of shareholder indices, divided by 3 Extent of shareholder rights index (0-10.5
Shareholders†rights and role in major corporate decisions Strength of governance structure index (0 -10.5
Governance safeguards protecting shareholders from undue board control and entrenchment Extent of corporate transparency index (0-9
Extent of shareholder governance index 0†10 Sum of the extent of shareholders rights, strength of
governance structure and extent of corporate transparency indices, divided by 3 Strength of investor protection index (0†10
regulation and extent of shareholder governance indices 50 Spain Doing Business 2015 PROTECTING MINORITY INVESTORS
Ease of shareholder suits index (0-10 Note: Higher scores indicate greater minority shareholder access to evidence before and during trial
Source: Doing Business database 53 Spain Doing Business 2015 PROTECTING MINORITY INVESTORS Figure 7. 5 How extensive are shareholder rights
Extent of shareholder rights index (0-10.5 Note: The higher the score, the stronger the protections
Source: Doing Business database Figure 7. 6 How strong is the governance structure Strength of governance structure index (0-10.5
to disclosure, director liability, shareholder suits shareholder rights, governance structure and corporate transparency in a standard case study (for more details
see the Data Notes section of the Doing Business 2015 report). ) The summary below shows the details underlying
and/or shareholders required?(0-2 Disclosure on the transaction only 1 Must an external body review the terms of the transaction
Can shareholders sue directly or derivatively for the damage caused by the Buyer-Seller transaction to the company?(
Can shareholders hold the interested director liable for the damage caused by the transaction to the company?(
Can shareholders hold members of the approving body liable for the damage cause by the transaction to the
shareholder plaintiff?(0-1 Yes 1 Must the interested director repay profits made from the
transaction upon a successful claim by a shareholder plaintiff?( (0-1 Yes 1 Can both fines
a shareholder plaintiff?(0-2 Only in case of fraud or bad faith 0 Ease of shareholder suits index (0-10) 5. 0
Before filing suit, can shareholders owning 10%of the company†s share capital inspect the transaction documents
0-1 No 0 Can the plaintiff obtain any documents from the defendant Any relevant document 3
Can shareholder plaintiffs recover their legal expenses from the company?(0-2 Yes if successful 1
Extent of shareholder rights index (0-10.5) 10.5 Can shareholders amend company bylaws or statutes with a
simple majority Yes 1. 5 Can shareholders owning 10%of the company's share capital call for an extraordinary meeting of shareholders
Yes 1. 5 Can shareholders remove members of the board of directors before the end of their term
Yes 1. 5 Must a company obtain its shareholders†approval every time it issues new shares
Yes 1. 5 are granted shareholders automatically subscription rights on new shares Yes 1. 5 Must shareholders approve the election and dismissal of the
external auditor Yes 1. 5 Can shareholders freely trade shares prior to a major corporate action or meeting of shareholders
Yes 1. 5 Strength of governance structure index (0-10.5) 5. 0 is barred the CEO from also serving as chair of the board of
directors No 0 Must the board of directors include independent board members No 0 Must a company have a separate audit committee?
Yes for listed companies 1 Must changes to the voting rights of a series or class of
shareholders upon acquiring 50%of a company Yes for listed companies 1 Is cross-shareholding between 2 independent companies
limited to 10%of outstanding shares Yes 1. 5 is barred a subsidiary from acquiring shares issued by its
Extent of shareholder governance index (0-10) 7. 5 Source: Doing Business database 58 Spain Doing Business 2015
while assuring adequate remuneration for their shareholders Investment remuneration and stable regulatory frameworks will be necessary for a
shareholders or expand its business. Otherwise, a negative FCF means that the company will sell part of its investment or increase its debt.
competitors, shareholder pressure Strong network failure, closed group think hinders innovation Interaction Weak network failure, lack of connections for
especially during the 1990s †as big companies were pressured by shareholders to focus on short-term proï ts.
ownership of Trafikanten was changed slightly as 6 new shareholders entered the company representing Norwegian PT operators, PT branch organisations and two
The original 3 shareholders still have the majority of shares Trafikanten†s main objective is to promote public transport
and the shareholders, including the county council and the different municipalities IT solutions play an important role in supporting the company in achieving its objective of
the burden of company tax in Australia for domestic shareholders, at 30 per cent our company
-pled its shareholder value in only five years Example of characteristic 4 For example, prior to being acquired by RWE AG in 2000, VEW Energie AG,
shareholder, which suggests a high required rate of return and therefore a high cost of capital. However for the other firms (closely held), R&d is not valued at all, which
performance is less than desirable is the fact that shareholders and managers have different objectives. Most financial theories hold that the objectives of the shareholders and the
managers of firms are identical, as shareholders and managers are identical economic agents Crotty 1990.
The assumption that managers and shareholders have identical objectives is certainly least true in the case of SMES.
There are four main differences between shareholder 24 and managerial objectives. Firstly, shareholders prefer a higher debt to equity ratio, while
managers try to reduce that ratio because higher debt decreases the worth of their financing
portfolios. Secondly, managers seek long term growth, manifested as an increase in firm size and higher capital-accumulations.
while shareholders advocate an avoidance of any risk. This is particularly problematic, because investments in innovation and
The shareholders tend to think mostly of selling the firm to get the best possible return on invested capital, especially upon the
In the process, shareholders tend to induce failure of the firm Crotty 1990. All the above issues indicate that the financial theory approach is not the most
meeting of shareholders/sole shareholder decision 3. If applicable, obtaining a special power of attorney (authenticated) or
delegation for the persons delegated to fulfil legal formalities 4. Proves regarding the payment of
shareholders/partners/resolution of the sole shareholder to increase the share capital or to assign the shares
shall be submitted to the Office of Commerce Registrar to be mentioned and published in the Official Gazette
shareholders/partners/resolution of the sole shareholder and the updated Articles of Incorporation with all
updates, and the other documents supporting the application 4. 4 Registration with the Office of
The KIC€ s shareholders agreed on a business model that will hopefully lead it to finan
value for their shareholders and stakeholders. Some KIC partners express a real concern on how to define
beyond the one-dimensional view of shareholder value (profit) maximisation and seeing management as beholden to shareholders, a †homo economicusâ€
view of stakeholders still lingers. Stakeholder theory has evolved to a more human-oriented †homo sapi
also by public shareholders from Italy and France. In the 2010 Scoreboard it is registered as in
2. Linking government assistance (IRAP) with subsequent VC financing leads to less shareholder dilution and higher growth for the SME
2. Linking government assistance (IRAP) with subsequent VC financing leads to less shareholder dilution and higher growth for the SME
investment Fund of which CDC is a founding shareholder 25 2. 5) New places for new types of
These incentives can take the form of shareholding, or the right to subsequently participate in the ownership and management of intellectual property.
federal government to participate as a minority shareholder in innovative enterprises operating in high -priority sectors.
shareholder funds of about EUR 120 million one of the largest capitalisations in its field;
authorities, as shareholders, in their governance system. Examples include The french SCIC †sociã tã coopã rative d†intã rã t collectif, cooperative of collective interest †and The british
which stands in stark contrast to the notion of shareholder capitalism Social enterprise Any private activity conducted in the public interest that is organised with an
shareholders Vocational education and Training (VET Formal education and training programmes that have a task orientation rather than
The owners of a cooperative are not external shareholders for whom there is a profit motivation;
Large shareholders and firm performance†an empirical examination of founding-family ownership Journal of Corporate Finance, 14, 431†445
shareholders and owners. There is currently no universally accepted definition of social enterprise. This is because social enterprises can take
has accrued to shareholders and founders. The Harris/Albury definition focuses on motivations, which are rarely easy to know with any certainty.
independence are guaranteed through a special shareholding trust which protects the social and environmental aims of the bankâ€.
creating different categories of shareholder; by giving particular groups voting rights; or golden shares. These arrangements can be fixed
trusts, with a further 95 supporters†trusts having shareholdings in their clubs. There has also been a growth of †New Mutualismâ€,
as an annoying necessity where small shareholders can vent their anger Social movements, by contrast, use AGMS to reinforce commitments to the
124) Consumer shareholding can be used to involve consumers more directly in the work of a venture, both directly, and through
Cafã direct opted to have a share issue geared to small shareholders as a means of raising finance
It has 2, 400 shareholders. Image courtesy of Andrew Watson 4 80 THE OPEN BOOK OF SOCIAL INNOVATION
of shareholders and savers in the company†s decision making process must be encouraged; each organisation which accepts
shareholder issues, their board growth strategies and other challenging real-life issues They receive peer-collaborative feedback from an experienced community of CEOS
foreigners (as either minority or majority shareholders Further, the Survey sampling also aims to ensure
In your country, to what extent are the interests of minority shareholders protected by the legal system? 1=not protected at all;
shareholders protected by the legal system? 1=not protected at all; 7=fully protected 2013†14 weighted average
and the Ease of shareholder suit index shareholders†ability to sue officers and directors for misconduct
< Back - Next >
Overtext Web Module V3.0 Alpha
Copyright Semantic-Knowledge, 1994-2011