В. А. Шляхова, О. Н. Герасина, Ю. А. Герасина английский язык для экономистов english for economists
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| The Joint-stock Company
The joint-stock company dates from Tudor times, when England’s foreign trade began to expand. Instead of a trading ship’s being owned by one person, it was financed by a number of people who bought shares in a company formed for the purpose. Today the joint-stock company is the most important form of business organization. International joint stock companies are used in a wide variety of manufacturing, mining, and service industries. The host country may require that a certain percentage (often 51 percent) of manufacturing or mining operations be owned by nationals of that country, thereby requiring firms to operate through joint ventures. Moreover, the local partner may bring to the joint venture its knowledge of the customs and tastes of the people, an established distribution network, and valuable business and political contacts. Local partners also decrease the foreign status of the firm and may provide some protection against discrimination, if conditions are changed. 131 There are some advantages and disadvantages of international joint ventures. The advantages of it are limited liability, continuity, the availability of capital (since investors can spread their risk and sell their shares easily) and ease of expansion. However there are, of course, certain disadvantages to international joint ventures. The main potential disadvantage to joint ventures, especially in countries that limit foreign companies to 49 percent participation, is the loss of effective managerial control. A loss of effective managerial control can result in reduced profits, increased operating costs, inferior product quality and fines. Firms that wish to retain effective managerial control will find this issue an important topic in negotiations with the prospective joint venture partner and frequently the host government as well. Задание. Найдите в тексте абзацы, где идет речь о преиму- ществах и недостатках такого рода бизнеса, и переведите их на русский язык. жүктеу/скачать 1,06 Mb. Достарыңызбен бөлісу:
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