外文翻译---25年法国企业集团的发展成果和经验

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1、本科毕业论文（设计） 外 文 翻 译 原文： 25 Years of Enterprise Group Statistics in France Experienced Gained and Current Development Production Of Enterprise Groups Statistics 1 Financial links and delineation of Enterprise Groups: In the beginning of the 80s INSEE started to conduct a survey on capital links betwee

2、n corporations. A group of economists from inside and from outside INSEE had emphasized the role of enterprise groups (EG here after) in the economy, and the need to have reference statistics on them. Only private databases of consolidated accounts were providing information on the biggest EGs. Acco

3、unting rules on consolidation were not sufficiently uniform to be suitable for statistics. Therefore INSEE had to develop its own definition of an EG, and designed a survey to identify these groups. Statisticians have defined the statistical group as a group of corporations dependent on the same par

4、ent company, giving a precise definition of the terms “dependent” and “parent company.” The parent company, called “group head,” is a corporation which is neither directly nor indirectly “controlled” by any other company and which itself controls at least one other company. The “core” of the group i

5、s the group head and the companies it controls directly or indirectly. “Control” is the ability of the group head to define the strategic orientations of the subsidiary. This control derives from the ownership of the equity capital, through the exercise of the voting rights which allow appointment o

6、f directorial bodies. Such a definition of control is a matter of “all or nothing”: one company either controls another (if it owns directly or indirectly the absolute majority of voting rights) or it does not. The statistician will therefore define and measure the “control rate.” The financial link

7、s (LIFI) survey is an annual mandatory statistical survey of private corporations. It has existed since 1980. The enterprises surveyed meet at least one of the following criteria: total amount of equity interest greater than 1.2 million euros , personnel in excess of 500 employees, turnover in exces

8、s of 30 million euros. In 2003, about 24 000 corporations were surveyed. In addition INSEE is in charge of updating the Administrative Register of Enterprises Under Majority Control of the State. Since 2002, INSEE has completed the scope of the survey with another administrative source: the informat

9、ion published by French corporations to the commercial courts, which encompasses not only annual accounts but as well the names of shareholders. This source provides the financial links data for corporations below the thresholds of the LIFI survey. The collected information consists of: Identificati

10、on characteristics of the corporation (administrative ID number, corporation name, address, activity, legal form, number of employees, total value of majority and minority interests). shareholders of the canvassed corporation: corporate name, address (at least nationality), and percentage of voting

11、rights held by each shareholder (only for legal persons). composition of the shares portfolio: for each subsidiary or affiliate, the corporation name, address, administrative ID number, activity, percentage of capital and voting rights held, and value of the interests reported in the accounts of the

12、 canvassed corporation. The sampling list is derived from a statistical database of the accounts of all corporations registered in France, that integrates copies of the corporate tax reports. An algorithm delineates from the financial links the composition of each EG, its group head, and for each su

13、bsidiary its rank (i.e. one for direct subsidiaries of the group head, n+1 for subsidiaries of a corporation that is itself of rank n). One of the most delicate points concerning statistics on EGs has to do with the territory in which their subsidiaries are located, because it goes beyond the nation

14、al borders. This is the case when the ownership chain has several links beyond the borders: the first link is collected via LIFI, but is more difficult with lower ranked corporations for foreign EGs. In order to make up for this weakness of information, since 1994 INSEE has been making use of data o

15、n foreign investments in France from the administrative files of the Treasury Office. This gives information not only on the direct investor, but also on the country of origin of the equity capital, that is, the country of the parent corporation of the investor group. Other available information is

16、used as well (information published by companies). For more on the production of EG statistics. 2 Economic statistics on Enterprise Groups INSEE has developed an integration system for business statistics that provides a census, based on administrative data, of financial reports for all corporations

17、. In particular, for each corporation an income statement, a balance sheet and other sets of information are available. These accounts are non-consolidated ones. Information drawn from the annual structural business surveys adds in particular the main activity code, a breakdown of turnover by elementary activity, information on mergers and splitters of corporations, information on the workforce.