Demutualization (original) (raw)
Se conoce como desmutualización al proceso por el cual una mutualidad pasa a convertirse en una empresa abierta al público, como por ejemplo una sociedad anónima. Los socios mutualistas (propietarios a la vez que beneficiarios de los servicios prestados por la mutualidad) pueden convertirse en accionistas de la nueva empresa o recibir dinero en efectivo. El proceso a la inversa sería una mutualización.
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| dbo:abstract | Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. The mutual traditionally raises capital from its customer members in order to provide services to them (for example building societies, where members' savings enable the provision of mortgages to members). It redistributes some profits to its members. By contrast, a joint stock company raises capital from its shareholders and other financial sources in order to provide services to its customers, with profits or assets distributed to equity or debt investors. In a mutual organization, therefore, the legal roles of customer and owner are united in one form ("members"), whereas in the joint stock company the roles are distinct. This allows a broader capital base if the customers cannot or will not provide sufficient financing to the organization. However, a joint stock company must also try to maximize the return for its owners instead of only maximizing the return and customer services to its customers. This can lead to a decline in customer service to the extent that customers', management's and shareholders' interests diverge. A very early example of demutualization were the changes to the structure of the Union Insurance Society of Canton initiated by its secretary N.J. Ede between 1873 and 1882 leading to its re-registration as a limited company having originated as a mutual assurance society for traders in Canton in 1835. (en) Eine Demutualisierung ist die Umwandlung der Rechtsform eines Unternehmens in Kundenbesitz, z. B. Versicherungsvereins auf Gegenseitigkeit (VVaG) in eine Aktiengesellschaft. Es gibt die Möglichkeit der Demutualisierung mit Börsengang und der gesponserten Demutualisierung. Bei einer Demutualisierung mit Börsengang erhalten Mitglieder Anteile an der Aktiengesellschaft als Entschädigung für die Mitgliedschaft. Bei einer gesponserten Demutualisierung übernimmt ein Investor die neu gegründete Aktiengesellschaft. Entschädigungen für die Mitgliedschaft können dann in Form von verbesserten Versicherungsleistungen oder Zahlungen erfolgen. (de) Se conoce como desmutualización al proceso por el cual una mutualidad pasa a convertirse en una empresa abierta al público, como por ejemplo una sociedad anónima. Los socios mutualistas (propietarios a la vez que beneficiarios de los servicios prestados por la mutualidad) pueden convertirse en accionistas de la nueva empresa o recibir dinero en efectivo. El proceso a la inversa sería una mutualización. (es) La démutualisation est la conversion d'une mutuelle ou d'une coopérative en une société par actions. Toutes les formes de mutuelles peuvent y recourir, tant dans le secteur de l'assurance que des bourses d'échanges ou des coopératives agricoles. (fr) Demutualizacja – proces zmiany formy prawnej przedsiębiorstwa, np. przekształcenie towarzystwa ubezpieczeń wzajemnych w towarzystwo ubezpieczeniowe w formie spółki akcyjnej lub spółdzielni w spółkę akcyjną. Demutualizacja pozwala przedsiębiorstwu uzyskać m.in. tańszy dostęp do kapitału, np. poprzez giełdę. (pl) |
| dbo:wikiPageExternalLink | http://www.glenndaily.com/mhctable.htm http://www.insuranceobserver.com/topics/thebigfix.php http://news.bbc.co.uk/1/hi/business/7641925.stm http://www.bizjournals.com/boston/stories/2005/05/16/focus5.html https://ssrn.com/abstract=636602 https://ssrn.com/abstract=836464 https://web.archive.org/web/20080517005546/http:/www.ica.coop/coop/mutuality2.html http://assembly.state.ny.us/Reports/Ins/199803/insureport.html |
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| rdfs:comment | Se conoce como desmutualización al proceso por el cual una mutualidad pasa a convertirse en una empresa abierta al público, como por ejemplo una sociedad anónima. Los socios mutualistas (propietarios a la vez que beneficiarios de los servicios prestados por la mutualidad) pueden convertirse en accionistas de la nueva empresa o recibir dinero en efectivo. El proceso a la inversa sería una mutualización. (es) La démutualisation est la conversion d'une mutuelle ou d'une coopérative en une société par actions. Toutes les formes de mutuelles peuvent y recourir, tant dans le secteur de l'assurance que des bourses d'échanges ou des coopératives agricoles. (fr) Demutualizacja – proces zmiany formy prawnej przedsiębiorstwa, np. przekształcenie towarzystwa ubezpieczeń wzajemnych w towarzystwo ubezpieczeniowe w formie spółki akcyjnej lub spółdzielni w spółkę akcyjną. Demutualizacja pozwala przedsiębiorstwu uzyskać m.in. tańszy dostęp do kapitału, np. poprzez giełdę. (pl) Demutualization is the process by which a customer-owned mutual organization (mutual) or co-operative changes legal form to a joint stock company. It is sometimes called stocking or privatization. As part of the demutualization process, members of a mutual usually receive a "windfall" payout, in the form of shares in the successor company, a cash payment, or a mixture of both. Mutualization or mutualisation is the opposite process, wherein a shareholder-owned company is converted into a mutual organization, typically through takeover by an existing mutual organization. Furthermore, re-mutualization depicts the process of aligning or refreshing the interest and objectives of the members of the mutual society. (en) Eine Demutualisierung ist die Umwandlung der Rechtsform eines Unternehmens in Kundenbesitz, z. B. Versicherungsvereins auf Gegenseitigkeit (VVaG) in eine Aktiengesellschaft. Es gibt die Möglichkeit der Demutualisierung mit Börsengang und der gesponserten Demutualisierung. Bei einer Demutualisierung mit Börsengang erhalten Mitglieder Anteile an der Aktiengesellschaft als Entschädigung für die Mitgliedschaft. (de) |
| rdfs:label | Demutualisierung (de) Demutualization (en) Desmutualización (es) Démutualisation (fr) Demutualizacja (pl) |
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