Private Companies in Europe and the European Private Company

The study examines the material scope of the shareholder´s voting prohibitions and compares sec 47 (4) GmbHG with the shareholder´s duty to abstain from voting in closed corporations in France, Great Britain, Austria and Spain. Following that, the author concentrates on the controversial prohibition of voting on resolutions concerning the performance of a legal transaction and opposes the prevailing doctrine of social acts (“Sozialaktslehre”) with her own concept for a legally certain demarcation of the legal transactions affected by a prohibition of voting on the basis of the comparative legal analysis and a systematic, historical and teleological interpretation of sec 47 (4) GmbHG. Also the practice-relevant questions of the prohibition of voting on resolutions concerning the employment contract of the managing director and shareholder as well as the dispensability of the statutory prohibition of voting are discussed. Finally, developments in Union law are considered and a proposal for a voting ban in a possible future European Private Company is made.

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Financial Reporting Fraud: Public and Private Companies

Journal of Forensic Accounting Research ◽

10.2308/jfar-51475 ◽

2016 ◽

Vol 1 (1) ◽

pp. A27-A41 ◽

Cited By ~ 9

Author(s):

A. Scott Fleming ◽

Dana R. Hermanson ◽

Mary-Jo Kranacher ◽

Richard A. Riley

Keyword(s):

Financial Reporting ◽

Primary Objective ◽

Private Company ◽

Private Companies ◽

Public And Private ◽

Public Companies ◽

Multivariate Tests ◽

Public Company ◽

Public Versus Private ◽

Financial Reporting Fraud

ABSTRACT This study uses survey data gathered by the Association of Certified Fraud Examiners (ACFE) and provided to the Institute for Fraud Prevention (IFP) to examine differences in the profile of financial reporting fraud (FRF) between private companies and public companies. Although private companies represent a significant portion of the economy, largely due to lack of data on these companies, most research on FRF examines only public companies. The primary objective of this study is to determine how private company FRF is different from FRF in public companies. Our multivariate tests reveal that public companies have stronger anti-fraud environments, are more likely to have frauds that involve timing differences, tend to experience larger frauds, have frauds that involve a larger number of perpetrators, and are less likely to have frauds that are discovered by accident. Overall, it appears that the stronger anti-fraud environment in public companies leads public company FRF perpetrators to use less obvious fraud methods (i.e., timing differences) and to involve larger fraud teams to circumvent the controls. These public company frauds are larger than in private companies, and their larger size may make them more likely to be detected through formal means, rather than by accident. Based on the results, we encourage auditors and others to be particularly attuned to the unique risks of the public versus private setting.

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The Management of Knowledge Resources within Private Organisations

Knowledge Management for Process, Organizational and Marketing Innovation - Advances in Knowledge Acquisition, Transfer, and Management ◽

10.4018/978-1-61520-829-6.ch003 ◽

2010 ◽

pp. 36-61

Author(s):

Federica Ricceri ◽

James Guthrie ◽

Rodney Coyte

Keyword(s):

International Institutions ◽

Economic Base ◽

Wealth Creation ◽

Private Company ◽

Private Companies ◽

Knowledge Resources ◽

Research Questions ◽

National Economies ◽

Specific Organisation

National economies have rapidly moved from their industrial economic base and shifted towards a knowledge base, in which wealth creation is associated with the ability to develop and manage knowledge resources (KR) (see, among others, MERITUM, 2002; EC, 2006). Several national and international institutions have produced various Intellectual Capital (IC) frameworks1 and guidelines (e.g. MERITUM, 2002; SKE, 2007; EC, 2006) to guide in the management, measurement and reporting of IC. However, there appear to be few studies of private company practices (Guthrie & Ricceri, 2009). The above informed the following two research questions of our study: (1) In what ways, did the private companies express their strategy and the role of KR within it? (2) What tools, including ‘inscription devices’, were used for understanding and managing KR within a specific organisation? This chapter answers these questions by providing illustrations of KR and their management in practice in a variety of private companies.

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The European Private Company - Entering the Scene or Lost in Discussion?

German Law Journal ◽

10.1017/s2071832200001656 ◽

2009 ◽

Vol 10 (8) ◽

pp. 1321-1332 ◽

Cited By ~ 1

Author(s):

Daniel Kornack

Keyword(s):

European Commission ◽

The Other ◽

Private Company ◽

Short Overview ◽

European Institutions ◽

Draft Statute ◽

Basic Features ◽

Societas Privata Europaea ◽

European Private Company

More than a year has passed since the European Commission introduced the European Private Company (Societas Privata Europaea, SPE) in June 2008. What has become of the draft statute? This paper is meant to give a short overview of its basic features, the other European institutions' discussions and statements, the problems that prevented the proposal from being adopted so far and possible solutions that were introduced.

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