Why are some companies called holding companies? In today's economic situation, social competition is also increasing. Enterprise managers must strengthen the management of all aspects, including the management of employee behavior norms and the management of company shareholders and shares, so as to gain a firm foothold in the market. Let's specifically look at why some companies are called holding companies.
Why are some companies called holding companies 1? 1. What is a holding company?
1. Holding company refers to a company that controls a company by holding a certain number of shares. Holding companies are divided into pure holding companies and mixed holding companies according to their holding methods. Pure holding companies do not directly engage in production and operation business, but only carry out capital operation by holding shares of other companies. Hybrid holding companies not only carry out capital operation through holding, but also engage in some production and operation businesses.
2. The holding company not only has financial control over its subsidiaries, but also has operational control, and has the right to decide the appointment of important personnel and the determination of major policies, and even directly send people to operate and manage them. Also known as parent-subsidiary system.
3. A company that owns shares of other companies and can actually control its business activities is called the parent company, sometimes also called the head office; All or part of the assets are owned by the parent company, but companies that are economically and legally independent of the parent company are called subsidiaries. With the extension of controlling rights, Sun Company came into being.
4. Holding companies are different from ordinary companies. It is a collection of enterprises, which is the result of the development of ordinary companies to a considerable scale. Because a company wants to form a holding relationship with other companies, it must have considerable strength. After the holding company is established, it will inevitably form a stronger economic entity than a single company. Therefore, the famous big companies in the world are basically holding companies, and some excellent companies in China are also developing in the direction of holding management.
Second, the main types of holding companies
Pure holding company
Do not engage in any practical business, only control other enterprises by buying stocks as the sole purpose and mode of operation.
Hybrid holding company
It not only controls other companies by buying stocks, but also engages in some commercial operations. The Bank Holding Company Law of the United States 1970 stipulates the holding company of the American banking industry, and any company that controls more than 25% of the shares of a bank is a holding company.
After World War II, the holding companies of American banks have been widely developed. The number of holding companies is increasing and their strength is also increasing. Many big banks in America have their own holding companies.
For example, the holding company of Chicago First National Bank is called Chicago First Company. The "Western Bank Company" in Los Angeles is also a well-known bank holding company. As early as 1974, it ranked 27th among the world's largest banks. It has assets of183 billion US dollars, and controls most of the shares of more than 20 banks in the western United States 1 1 states. These bank holding companies do not operate banking business themselves, but only aim at controlling bank shares.
PRNewswire is another type of large holding company in the United States. In the 1960s, its share capital was only over 300 million dollars, while the total capital of the 16 enterprises it controlled was as high as 2 billion dollars. Exxon is actually a holding company.
Its new york headquarters only gives policy guidance and control to its branches, and various specific business activities are carried out by Exxon, Esso Oriental, Exxon Chemical and Exxon Research Engineering under its control.
Therefore, through the establishment of joint-stock companies, financial capital can control and manipulate many other enterprises whose capital exceeds their own wealth, thus becoming an important means for financial capital to rule through participation system.
Third, the benefits of establishing a holding company.
The establishment of joint-stock companies by financial capital has more advantages than the direct establishment of various enterprises:
1, which can be controlled more widely with less capital.
2. The control can be realized in a short time. Because it is much easier and faster for a holding company to buy shares in an existing enterprise than to establish a new enterprise.
3. You can make use of the operating results obtained by existing enterprises. Such as developed markets and various business contacts, signs and trademarks accepted by the public, and the reputation of the company. , thus avoiding the difficulty of starting a business.
4. It can reduce the operational risk. Because the holding company's investment is scattered in many enterprises, it can often make the business quality and profits of enterprises even, thus ensuring relatively stable profits, which is much safer than investing in a certain enterprise alone.
5. Because the holding company unites many scattered enterprises into one entity, it can often reduce the tax payable.
6. You can avoid many legal controls or restrictions. For example, when some local governments and countries prohibit foreign countries or foreign enterprises from setting up companies in their own regions or countries, holding companies can avoid such legal restrictions by buying shares of local enterprises. It is precisely because holding companies often get these benefits that financial capitalists are willing to establish such companies.
Why are some companies called Holding 2? How to apply for the equity of a holding company?
The start of equity execution comes from the application of the executed person. The execution of equity takes place in the process of civil enforcement, which is the requirement of the applicant's application. Without the applicant's application, the court will not initiate civil execution on its own initiative. This is because, in essence, the implementation of equity is also a civil act of dealing with private rights between equal civil subjects.
The basis of equity execution is effective legal documents. The execution of equity must be to fulfill the payment obligation determined by the court judgment or other legal documents with enforcement effect, so as to force the equity owner to transfer his equity; Otherwise, shareholders cannot be forced to transfer their shares.
The content of equity execution is to take compulsory measures against the shares of other companies held by the executor. In the execution of equity, the people's court forces the transfer of equity. According to the law, only the people's court has the power of enforcement, and other judicial organs cannot exercise this right. Judging from the wishes of the equity owner, he may not want to transfer the equity, but in order to fulfill the judgment, he has to transfer the equity under the compulsion of the people's court.
The object of equity execution should be the whole content of equity. Equity has the right of self-interest and the right of interest. Some people think that equity enforcement can be the content of equity self-interest right. However, when implementing equity, equity should be implemented as a whole, that is, it includes both self-interest rights and * * * rights. Because only in this way can the interests of creditors or equity transferees be truly protected.
. Imagine that if only the self-interest right in the equity is exercised, the creditor or assignee is not qualified to exercise the interest right. When the original shareholders are lazy in exercising their rights, it may make it difficult for the interests of creditors or transferees to be realized; When only the * * * usufructuary right in the stock right is executed, the transferee or creditor loses its meaning on the one hand because it has no right to claim benefits, and on the other hand, the transferee or creditor has no enthusiasm to exercise the * * * usufructuary right. Therefore, when executing the equity, all the contents of the equity must be executed together.
The consequence of equity execution is the transfer of shares according to law. Equity execution is a form of equity transfer, which always leads to the transfer of shares. The broad sense of equity transfer includes equity execution. The people's court must enforce the equity in accordance with the law. The transfer behavior must comply with the legal provisions of equity transfer; For example, the equity transfer of a limited liability company must be approved by more than half of the shareholders, and shareholders with the same conditions have the preemptive right.
If the equity execution violates the relevant laws and regulations, there will be no legal consequences of the transfer. There are two possibilities in the execution of equity: either apply for the executor to receive the shares held by the executor and enjoy the equity, and the executor loses the shareholder rights; Or others obtain the equity of the person subjected to execution by providing consideration to the application executor.
Why are some companies called Holding Company 3 and unlisted companies also called Holding Company Limited?
Holding only controls the shares of the following companies, and has nothing to do with listing! Generally speaking, if an enterprise wants to be listed on the domestic securities market, it must go through three stages: comprehensive evaluation, standardized reorganization and formal start-up. The main contents are as follows: the first-stage comprehensive evaluation before listing is a complex financial engineering and systematic work, which needs to go through the process of pre-demonstration, organization and implementation and post-evaluation compared with traditional project investment; But also faces the path choice of whether to list in the capital market and in which market.
Listed in different markets, enterprises have to do different jobs, channels and risks. Only through the comprehensive evaluation of enterprises can we ensure that listed enterprises can operate correctly under the condition of controllable costs and risks. For enterprises, it is also a price to organize and mobilize a large number of personnel and mobilize all aspects of strength and resources to work.
Therefore, in order to ensure the success of the listing, the enterprise will first conduct a comprehensive analysis and research on the above issues, and carefully give opinions, and then fully start the work of the listing team after getting a clear answer. In the second stage, through internal regulation and reorganization, there are hundreds of key issues involved in the initial public listing of enterprises.
Especially in the current specific environment of China, there are many historical problems left by private enterprises, such as finance, taxation, law, corporate governance, historical evolution, etc., and it is quite difficult to deal with many problems later. Therefore, it is very important for enterprises to deal with some problems in advance in a planned and step-by-step manner with the assistance of listed financial consultants on the basis of completing the preliminary evaluation. Through this work, sponsors, strategic shareholders, other intermediaries and regulatory agencies can also be strengthened.
In the third stage, once the listing target is determined, the enterprise will begin to enter the practical operation stage of the external work of listing, which mainly includes: selecting relevant intermediaries, carrying out shareholding system reform, auditing and legal investigation, brokerage counseling, issuance declaration, issuance and listing, etc.
Because the listing work involves five or six external intermediary service agencies working at the same time, the personnel involve dozens of people. Therefore, it is very difficult to organize and coordinate, which requires multi-party coordination.