外文翻譯---25年法國企業(yè)集團(tuán)的發(fā)展成果和經(jīng)驗

1、<p>　　本科畢業(yè)論文（設(shè)計）</p><p>　　外 文 翻 譯</p><p><b>　　原文：</b></p><p>　　25 Years of Enterprise Group Statistics in France Experienced Gained and Current Development</p

2、><p>　　Production Of Enterprise Groups Statistics</p><p>　　1 Financial links and delineation of Enterprise Groups:</p><p>　　In the beginning of the 80s INSEE started to conduct a surve

3、y on capital links between 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

4、them. Only private databases of consolidated accounts were providing information on the biggest EGs. Accounting rules on consolidation were not sufficiently uniform to be suitable for statistics. Therefore INSEE had to d

5、</p><p>　　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 stat

6、istician will therefore define and measure the “control rate.”</p><p>　　The financial links (LIFI) survey is an annual mandatory statistical survey of private corporations. It has existed since 1980. The ent

7、erprises 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 excess of 30 million euros.</p><

8、;p>　　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. </p><p>　　Since 2002, INSE

9、E has completed the scope of the survey with another administrative source: the information published by French corporations to the commercial courts, which encompasses not only annual accounts but as well the names of s

10、hareholders. This source provides the financial links data for corporations below the thresholds of the LIFI survey.</p><p>　　The collected information consists of:</p><p>　　?   &

11、#160;   Identification characteristics of the corporation (administrative ID number, corporation name, address, activity, legal form, number of employees, total value of majority and minority interests).&l

12、t;/p><p>　　?        shareholders of the canvassed corporation: corporate name, address (at least nationality), and percentage of voting rights held by each shareholder (only f

13、or legal persons).</p><p>　　?        composition of the shares’ portfolio: for each subsidiary or affiliate, the corporation name, address, administrative ID number, activi

14、ty, percentage of capital and voting rights held, and value of the interests reported in the accounts of the canvassed corporation.</p><p>　　The sampling list is derived from a statistical database of the ac

15、counts 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 subsidiary i

16、ts rank (i.e. one for direct subsidiaries of the group head, n+1 for subsidiaries of a corporation that is itself of rank n).</p><p>　　One of the most delicate points concerning statistics on EGs has to do w

17、ith the territory in which their subsidiaries are located, because it goes beyond the national borders. This is the case when the ownership chain has several links beyond the borders: the first link is collected via LIFI

18、, but is more difficult with lower ranked corporations for foreign EGs. </p><p>　　In order to make up for this weakness of information, since 1994 INSEE has been making use of data on foreign investments in

19、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

20、 of the investor group. Other available information is used as well (information published by companies). For more on the production of EG statistics.</p><p>　　2 Economic statistics on Enterprise Groups</

21、p><p>　　INSEE has developed an integration system for business statistics that provides a census, based on administrative data, of financial reports for all corporations. In particular, for each corporation an

22、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

23、code, a breakdown of turnover by elementary activity, information on mergers a</p><p>　　By merging the file of EGs components and the file of corporation accounts, we get for each EG economic information on

24、all subsidiaries under its control (including the group head as well). A simple way to get estimates of the economic importance of an EG is to add up all quantitative characteristics, in order to approximate roughly the

25、full consolidation method of the consolidated accounts. Doing that, we do not cancel out intra flows neither intra claims neither intra liabilities. Concepts tha</p><p>　　3 Globalisation</p><p>

26、　　EGs are at the core of the internationalisation of companies: a perfect knowledge of the international structure of EGs would lead to a high level of statistical information on globalisation. Currently, the analysis o

27、f resident foreign corporations is very developed, since both the list of corporations under foreign control and their accounts are available at INSEE. This leads us to produce long series of inward FATS. Symmetrically,

28、the knowledge of subsidiaries abroad is under the responsibili</p><p>　　Total employment by category of businesses (millions) in 2000</p><p>　　6.5 Analysis of financing of businesses</p>

29、<p>　　In 2001, the French Planning Agency (CGP) launched an investigation into the financing of the French economy, in particular on the growing influence of stock markets as in many industrialised countries. The po

30、licy issue behind it was to consider if the growing role of own capital in the financing of companies should still be supported as a mean to achieve faster growth. Among other things, the working group investigated the i

31、mpact of the then famous “standard” for financial return of listed comp</p><p>　　Some economists were not particularly dissatisfied with the situation and could cope with it, and provided economic explanatio

32、ns they felt compatible with it. Others, and especially those working or having worked in the economic directorate of INSEE, were more disturbed and asked for an in-depth investigation of the concepts and methodology def

33、ining these statistics.</p><p>　　An additional sub-group was created to specifically tackle statistical issues related to the challenge raised by enterprise groups on business statistics. The main economic r

34、eport mentions several statistical issues and their consequences for the analysis.</p><p>　　Current Development</p><p>　　1 Communication with users.Statistics on several characteristics will cha

35、nge if we integrate the EG as a statistical unit. This raises several types of issues that statisticians have to discuss with users in order to: explain the situation and check if users agree on the need to integrate the

36、 EG as the reference statistical unit and agree on a new vocabulary for the derived statistics. In addition, statisticians have to check if external users need to have at their disposal statistics based on t</p>&

37、lt;p>　　The working group is formally created, but it has to be implemented in practice.</p><p>　　2 Statistical register of Egs.Whereas the register of corporations has existed in France for 40 years, ther

38、e is no formal statistical register of EGs. Since the statistical services of several ministries do as well produce business statistics, it is necessary to develop such a tool. All material being available, the main task

39、 is to organise the standardisation. But continuity of units remains an issue.</p><p>　　3 Definition of continuity.EGs are very mobile units, that change due to several reasons: they can buy, create or sell

40、corporations (totally or partially), and the corporations they own can as well be modified by mergers or demergers. As far as we know, there is currently no agreed concept of statistical continuity for these complex unit

41、s. Picart proposes a concept and uses it to define a longitudinal database of EGs and analyse the demography of this population. However, there are several vari</p><p>　　4 Globalisation issues.In order to a

42、ssess more deeply the economic activity under French “control” beyond the national territory, INSEE has launched a project based on the comparison of information based on consolidated accounts (i.e. on a worldwide territ

43、ory) and not consolidated accounts (limited to France). By aggregation and difference, we should be in a position to assess the economic activity abroad for concepts that are not very sensitive to intra-flows (like value

44、-added or operating prof</p><p>　　Another aspect with a second priority is to have more relevant information on foreign EGs that have subsidiaries in France. Their main activity, their global size, etc… cann

45、ot be directly observed. This is problematic for economic analyses ,for instance, subsidiaries of foreign manufacturers are frequently classified in the wholesale trade sector, which is economically speaking not very use

46、ful for the analysis.</p><p>　　5 Integrating the EG as a data collection unit.The French statistical system is currently launching an ad-hoc survey on intangible assets (innovation, R&D, marketing, paten

47、ts and licensing, perhaps knowledge management). This is the first time French statisticians have chosen to collect information at the level of the group (or the sub-group, depending from the choice of the EG managers).

48、Even the globalisation dimension is integrated, since these production factors are often located by EGs in d</p><p>　　CONCLUSION INSEE and more generally the French statistical system have invested for s

49、ome time in EG statistics. This has provided much information for economists who have access to this individual data. Production of statistics is more limited and still under development. However, progress has still to b

50、e made: first in disseminating more largely available information, second in enhancing the available individual information by a more intensive collection and valorisation of consolidated inf</p><p>　　Source

51、: Raoul Depoutot,2004 “l(fā)inking performance scorecards to profit performance pay”. 18th Roundtable on Business Survey Frames,pp.17-22.</p><p><b>　　譯文：</b></p><p>　　25年法國企業(yè)集團(tuán)的發(fā)展成果和經(jīng)驗&l

52、t;/p><p><b>　　企業(yè)集團(tuán)的生產(chǎn)統(tǒng)計</b></p><p>　　企業(yè)集團(tuán)的財務(wù)劃分環(huán)節(jié)描述：</p><p>　　從80年代初，法國國家統(tǒng)計局在企業(yè)之間開始進(jìn)行一項有關(guān)企業(yè)資本間聯(lián)系的調(diào)查。在法國國家統(tǒng)計局的一組經(jīng)濟(jì)學(xué)家從內(nèi)到外的強(qiáng)調(diào)指出了企業(yè)集團(tuán)（專家小組）在經(jīng)濟(jì)中的作用 ,以及需要參考的數(shù)據(jù)。只有私人數(shù)據(jù)庫綜合賬目才會提供最大的E

53、Gs（專家小組）信息。會計準(zhǔn)則由于綜合不充分而不能夠統(tǒng)一適用于統(tǒng)計。因此法國國家統(tǒng)計局必須發(fā)展自己意義上的EG,并設(shè)計一種調(diào)查來辨認(rèn)這些組。一個由統(tǒng)計學(xué)家組成的研究小組定義了企業(yè)集團(tuán)是以一群公司依賴于同樣的母公司的企業(yè)聯(lián)合體,由“子公司”和“母公司”等組成。母公司被稱為“集團(tuán)公司的頭”，是一家既非直接或間接“受控制”于任何其他公司和本身控制至少一種其他的公司的企業(yè)。這個“核心”企業(yè)是集團(tuán)組織頭和公司直接或者間接控制者。集團(tuán)公司“控制”

54、的是集團(tuán)各子公司的戰(zhàn)略方向。這個控件源于股權(quán)資本的所有權(quán),通過行使投票權(quán)行使委任子公司董事會的權(quán)力。</p><p>　　這種控制的定義是一種“寧為玉碎,不為瓦全”：一個公司有控股權(quán)(如果它是直接或間接擁有絕對多數(shù)的投票權(quán))或另一個也沒有，在這種情況下，統(tǒng)計學(xué)家將會定義和測量“控制率”。</p><p>　　私營企業(yè)的金融聯(lián)系調(diào)查是一年一度強(qiáng)制性的統(tǒng)計調(diào)查，自1980年以來就已經(jīng)存在了。企

55、業(yè)至少要滿足下列一個條件:股權(quán)總額超過120萬、人員超過500個員工,營業(yè)額超過30萬歐元。</p><p>　　在2003年,約有24000企業(yè)被作為調(diào)查對象。此外法國國家統(tǒng)計局負(fù)責(zé)更新行政注冊的企業(yè)，多數(shù)控制權(quán)在國家。</p><p>　　自2002年以來,法國國家統(tǒng)計局與法國另一個行政機(jī)構(gòu)已經(jīng)完成了調(diào)查范圍：法國企業(yè)向商業(yè)法庭公布的資料，其中不僅要包括年度賬賬目還要股東姓名。此數(shù)據(jù)來

56、源是為企業(yè)低于LIFI（財務(wù)關(guān)系調(diào)查）調(diào)查提供的金融聯(lián)系值。</p><p><b>　　收集到的信息包括：</b></p><p>　　公司的識別特征(行政身份證號,公司名稱、地址、活動、法律的形式、員工人數(shù),總價值多數(shù),少數(shù)股東權(quán)益)。</p><p>　　股東對其公司的審視:企業(yè)名稱、地址(至少國籍)的比例,每名股東所持有投票權(quán)(限法人)

57、。</p><p>　　股票投資組合的組成,因為各附屬公司或子公司,公司名稱、地址、行政身份證號碼,員工活動,資本比例和投票權(quán)的持有比例，在公司權(quán)益價值報告中都有詳細(xì)的討論。</p><p>　　抽樣名單是來自于法國統(tǒng)計數(shù)據(jù)庫備案記錄中所有的注冊企業(yè),整合企業(yè)所得稅的拷貝報告。集團(tuán)的頭和每一下屬其等級(即集團(tuán)直接子公司頭本身級別為n,n + 1為一個公司的子公司)，都要從當(dāng)前金融聯(lián)系集團(tuán)的

58、各EG組成方面看。</p><p>　　其中最微妙的問題，是有關(guān)EGs統(tǒng)計的子公司所在的領(lǐng)土位置，因為它超越了國界之外。這是所有權(quán)情況下的超越邊界的幾個環(huán)節(jié)鏈：第一環(huán)節(jié)通過LIFI收集,但是更困難的是排名較低的外國企業(yè)的Egs。</p><p>　　為了彌補(bǔ)這個信息的弱點,自1994年以來，法國國家統(tǒng)計局使用的海外投資數(shù)據(jù)管理文件從法國財政部部長辦公室獲得。投資集團(tuán)母公司所在的國家，不僅直

59、接對投資者提供了信息,而且還有生產(chǎn)國的股權(quán)資本來源信息及其它可使用的信息 (企業(yè)發(fā)布的信息)。更多關(guān)于EG生產(chǎn)的統(tǒng)計。</p><p><b>　　企業(yè)集團(tuán)的經(jīng)濟(jì)統(tǒng)計</b></p><p>　　法國國家統(tǒng)計局為提供商業(yè)統(tǒng)計的人口普查數(shù)據(jù)建立了一種整合系統(tǒng) ,基于行政數(shù)據(jù)的所有企業(yè)的金融報告。特別是每個公司利潤表,資產(chǎn)負(fù)債表和其他組成信息是可得到的。這些帳戶是非綜合的

60、。信息來自每年業(yè)務(wù)結(jié)構(gòu)調(diào)查特別加入的主要活動代碼,通過有關(guān)企業(yè)的經(jīng)濟(jì)活動、企業(yè)的合并信息及勞動力信息影響營業(yè)額。</p><p>　　通過合并Egs組件的文件和公司賬戶,我們每次獲得的EG經(jīng)濟(jì)資料,是在所有子公司控制之中(包括集團(tuán)的頭)。用一個簡單的方法來得到經(jīng)濟(jì)價值的估計, 為了粗略大約的估計全部兼并的綜合帳目，EG把所有的數(shù)量特征都加起來。這樣做,我們也不取消相互流動的內(nèi)部責(zé)任?！案拍疃x了”卻不受限制。這條

61、原則適用于增加產(chǎn)品價值,營業(yè)利潤、進(jìn)出口、就業(yè)、工資報酬、投資、有形資產(chǎn)…相反,一些概念對這種測量很敏感:營業(yè)額、生產(chǎn)、購買的物品與勞務(wù)。例如。在許多EGs,內(nèi)部商品的流動數(shù)量或服務(wù)金額達(dá)到合并銷售或購買的一個重要分。這種情況對于金融債權(quán)債務(wù),因為該組織的頭或一些公司在每個EG經(jīng)常管理整個團(tuán)隊的金融資源。對金融剩余的集團(tuán), 由于支付紅利，事情會變得非常復(fù)雜。無形資產(chǎn)的評估增加了一個非常復(fù)雜的問題上,即商譽(yù)資產(chǎn)的評估,如果沒有額外的信息，

62、就目前來說太復(fù)雜而不能夠?qū)嵤?lt;/p><p><b>　　全球化</b></p><p>　　以Egs以各國際化公司為核心: 一種完美的Egs國際化結(jié)構(gòu)知識會導(dǎo)致全球化高水平的統(tǒng)計信息。目前,外國常駐企業(yè)的分析是非常發(fā)達(dá)的,因為這名單受外國公司的控制并且他們的帳戶可以在法國統(tǒng)計局獲得。這可以使我們產(chǎn)生一系列的內(nèi)在累積。對稱的,國外子公司知識的責(zé)任是在另一個董事會財政

63、部門(DREE),法國在國外擁有的公司每2年進(jìn)行法國的人口普查?，F(xiàn)有的經(jīng)濟(jì)信息目前卻是有限的 (只有就業(yè)和營業(yè)額是可得到的)。法國國家統(tǒng)計局就要完成第一個完整的Eg生產(chǎn)文件,即一個文件充分包含了三個來源:LIFI的調(diào)查中，配套的商業(yè)法庭信息、信息來自董事會財政部的人口普查。主要的初步結(jié)果在下表中可以看到。</p><p>　　企業(yè)分類的總就業(yè)人數(shù) (以百萬計)到 2000年</p><p>

64、;<b>　　企業(yè)的財務(wù)分析</b></p><p>　　在2001年,法國經(jīng)濟(jì)規(guī)劃機(jī)構(gòu) (CGP)發(fā)動的一項調(diào)查,法國經(jīng)濟(jì)的投資,特別在股票市場和許多工業(yè)化國家有越來越大的影響力。如果在公司的融資中自有資本仍然被支持這將意味著更快的發(fā)展，這樣的幕后政策應(yīng)予以考慮。在其他方面,工作小組研究了當(dāng)時知名度的 “標(biāo)準(zhǔn)” 影響上市公司的經(jīng)濟(jì)回報(即約15%的資產(chǎn)收益率)和它的可持續(xù)發(fā)展。該組織有著名

65、經(jīng)濟(jì)學(xué)家,審計人員、財務(wù)分析師、全國會計師和公共統(tǒng)計人員。經(jīng)濟(jì)學(xué)家認(rèn)為對有關(guān)盈利的各種數(shù)據(jù)統(tǒng)計和對這些統(tǒng)計數(shù)據(jù)的解釋是不容易的任務(wù)。主要有三種類型的統(tǒng)計數(shù)據(jù)是可用的:股票市場的統(tǒng)計,然后顯示出很高的利潤率；來自國民經(jīng)濟(jì)核算的統(tǒng)計,顯示出非常有限的盈利能力；來自商業(yè)統(tǒng)計的統(tǒng)計, 提供一個不同于其他兩個盈利水平的統(tǒng)計數(shù)據(jù)。</p><p>　　一些經(jīng)濟(jì)學(xué)家很滿于現(xiàn)狀并且可以應(yīng)付, 他們覺得是可兼容的并提供了經(jīng)濟(jì)學(xué)解釋

66、。其他人,特別是那些正在工作或曾經(jīng)在法國國家統(tǒng)計局任經(jīng)濟(jì)理事之職的人,聚集起來有所擾動并且要求概念和方法定義這些統(tǒng)計數(shù)字做更深入的調(diào)查。</p><p>　　額外工作小組的成立,是為專門解決統(tǒng)計相關(guān)問題提出的，挑戰(zhàn)有關(guān)企業(yè)集團(tuán)的商業(yè)統(tǒng)計。主要的經(jīng)濟(jì)報告提到了一些統(tǒng)計問題及其后果分析。</p><p><b>　　發(fā)展現(xiàn)狀</b></p><p>

67、;　　1、與用戶的溝通。如果我們把EG作為一個統(tǒng)計單位，統(tǒng)計將會改變幾個特征。統(tǒng)計學(xué)家為了與用戶商討就提出了幾種不同類型的問題:解釋情況和檢查用戶是否同意要整合EG作為相關(guān)統(tǒng)計參考單位和新詞匯的派生統(tǒng)計資料,此外, 如果外部使用者需要以企業(yè)單位和EG單位為基礎(chǔ)處理統(tǒng)計時，統(tǒng)計學(xué)家要進(jìn)行檢查,或如果二者之間可以通過特點的選擇是有可能的。一個額外的話題,用戶應(yīng)該接受采訪了解企業(yè)的統(tǒng)計，給正在發(fā)展的大EGs找新家。</p>&l

68、t;p>　　工作小組正式開始生產(chǎn)，但是必須在實踐中實施。</p><p>　　2、Egs的統(tǒng)計登記。而企業(yè)登記在法國已經(jīng)存在了40年的時間里,沒有一個正式Egs的統(tǒng)計登記。由于很多統(tǒng)計服務(wù)部門的制造行業(yè)統(tǒng)計做的很好,制造行業(yè)有必要開發(fā)這樣的一種工具。所有發(fā)表的資料,主要任務(wù)是組織標(biāo)準(zhǔn)化。但單位的連續(xù)性仍然是一個問題。</p><p>　　3、連續(xù)性的定義。 Egs是移動式裝置,而需要

69、更換的原因有以下幾個:他們可以買、創(chuàng)造或銷售企業(yè)(全部或部分),他們擁有的企業(yè)也同樣可以通過兼并或分拆被重組。據(jù)我們所知,目前還沒有統(tǒng)計連續(xù)這些復(fù)雜的概念單位。Picart提出了一種概念和用它來定義EGs縱向的數(shù)據(jù)庫并進(jìn)行了分析和人口統(tǒng)計學(xué)分析。然而,在幾個變異的概念中提出了一種設(shè)想,一些咨詢之前必須整合這些系統(tǒng)產(chǎn)生的概念。修訂后的歐盟管理控制統(tǒng)計商業(yè)登記條例,目前在討論中,希望能提供一個論壇來這樣討論。</p><

70、p>　　4、全球化問題。為了更深入評估超越國土的法國“控制” 的經(jīng)濟(jì)活動,法國國家統(tǒng)計局已經(jīng)發(fā)起了一個綜合賬目信息比較的基礎(chǔ)上的項目(即在全球范圍內(nèi)地盤),而不是合并賬目(限于法國)。通過聚集和差異,我們應(yīng)該為國外經(jīng)濟(jì)活動的評估概念選一個合適的位置，不是很敏感的內(nèi)部流動(如增值或經(jīng)營利潤)。即使財務(wù)結(jié)果也可以分析，提供了很多技術(shù)問題。</p><p>　　在另一個方面的首要任務(wù)是要有更多有關(guān)外國EGs在法國

71、子公司的資料。他們的主要活動,其全球尺寸等…都不能被直接觀察到。還有經(jīng)濟(jì)問題分析,例如, 國外制造商分公司經(jīng)常分類批發(fā)業(yè)務(wù)部門，一種從經(jīng)濟(jì)上來說不是很有用的分析。</p><p>　　5、整合EG作為數(shù)據(jù)采集單元。法國統(tǒng)計系統(tǒng),目前開展一個特設(shè)無形資產(chǎn)調(diào)查(創(chuàng)新、研發(fā)、營銷、專利和許可,知識管理)。這是法國統(tǒng)計人員第一次選擇收集同水平集團(tuán)的信息(從不同的小組選擇EG經(jīng)理)。即使全球化尺寸是綜合的,因為這些生產(chǎn)要素

72、通常是位于在不同國家EGs (典型的案例額有研發(fā)、自主創(chuàng)新或?qū)＠麢?quán))。</p><p><b>　　結(jié)論</b></p><p>　　法國國家統(tǒng)計局和更加普遍的法國統(tǒng)計系統(tǒng)擁有在一定期限內(nèi)的EG投資資料，這樣就為經(jīng)濟(jì)學(xué)家提供了很多個人數(shù)據(jù)。生產(chǎn)統(tǒng)計很有限,但仍然在開發(fā)中。不管怎樣，仍然有前進(jìn)的步伐:首先在很大程度上傳播更多有用的信息,第二要通過更強(qiáng)效的收集獲得個人信息