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Aktiengesellschaft

December 19, 2023

Aktiengesellschaft (German pronunciation: [ˈaktsi̯ənɡəˌzɛlʃaft]; abbreviated AG, pronounced [aːˈgeː]) is a German word for a corporation limited by share ownership (i.e. one which is owned by its shareholders) whose shares may be traded on a stock market. The term is used in Germany, Austria, Switzerland (where it is equivalent to a société anonyme or a società per azioni), and South Tyrol[a] for companies incorporated there. It is also used in Luxembourg (as Aktiëgesellschaft, pronounced [ˈɑktsjəɡəˌzælʃɑft]), although the equivalent French language term société anonyme is more common.[citation needed] In the United Kingdom, the equivalent term is public limited company and in the United States while the terms "incorporated" or "corporation" are typically used, technically the more precise equivalent term is "joint-stock company"[1] (though note for the British term only a minority of public limited companies have their shares listed on stock exchanges).[2]

Meaning of the word edit

 
Example of an Aktie, with a nominal value of 1,000 ℛ︁ℳ︁

The German word Aktiengesellschaft is a compound noun made up of two elements: Aktien meaning an acting part or share, and Gesellschaft, meaning company or society. English translations include share company, or company limited by shares, or joint-stock company. In German, the use of the term Aktien for shares is restricted to Aktiengesellschaften. Shares in other types of German companies (e.g. GmbH or a cooperative) are called Anteile (parts-of) rather than Aktien.[3][4]

Legal basis edit

In Germany and Austria, the legal basis of the AG is the German Aktiengesetz (abbr. AktG; "shares law") or the Austrian Aktiengesetz (abbr. AktG). Since the German commercial law (§ 19 Handelsgesetzbuch) requires all corporations to specify their legal form in their name, in order to inform the public of the limits on their liability, all German (required by § 4 Aktiengesetz) and Austrian stock corporations include Aktiengesellschaft or AG as part of their name, frequently as a suffix.

In Switzerland, the Company Limited by Shares (Aktiengesellschaft in German, société anonyme in French, società anonima in Italian, societad anonima in Romansh) is defined in Title Twenty-Six of the Code of Obligations, Article 620. Article 950 specifies that the business name must indicate the legal form.[3]

Structure edit

German AGs have a "two-tiered board" structure, consisting of a supervisory board (Aufsichtsrat) and a management board (Vorstand). The supervisory board is generally controlled by shareholders, although employees may have seats, depending on the size of the company. The management board directly runs the company, but its members may be removed by the supervisory board, which also determines the management board's compensation. Some German AGs have management boards which determine their own remuneration, but that situation is now relatively uncommon.

The general meeting is the supreme governing body of a Swiss company limited by shares. It elects the board of directors (Verwaltungsrat in German) and the external auditors. The board of directors may appoint and dismiss persons entrusted with managing and representing the company.[5]

Similar forms edit

The equivalent terms in other countries include the following, which mostly mean literally either "share company/society" or "anonymous company/society".

See also edit

Explanatory notes edit

  1. ^ A German-speaking region of Italy.

References edit

  1. ^ Google Translate reports "Aktiengesellschaft" translates as "joint-stock company".
  2. ^ This page: https://www.londonstockexchange.com/statistics/companies-and-issuers/companies-and-issuers.htm 2019-11-15 at the Wayback Machine (visited September 24, 2019) has a list of all public companies in Britain, and it numbers 2001 entries. This page: "How many limited companies are there in the UK?" 2019-11-05 at the Wayback Machine (Company Bug; visited September 24, 2019) says there are 1.9 million limited companies in Britain.
  3. ^ a b "What Is AG (Aktiengesellschaft)?". Investopedia. from the original on 2022-04-05. Retrieved 2022-04-05.
  4. ^ "English Translation of "Aktiengesellschaft" | Collins German-English Dictionary". from the original on 2023-07-02. Retrieved 2022-04-05.
  5. ^ "What is an Aktiengesellschaft (stock company)?". September 10, 2018. from the original on May 19, 2022. Retrieved April 5, 2022.

Further reading edit

  • Fohlin, Caroline (November 2005). "Chapter 4: The History of Corporate Ownership and Control in Germany" (PDF). In Morck, Randall K. (ed.). A History of Corporate Governance around the World: Family Business Groups to Professional Managers. University of Chicago Press. pp. 223–282. ISBN 0-226-53680-7.
  • Franks, Julian; Colin Mayer (2001). "Ownership and Control of German Corporations". The Review of Financial Studies. Oxford University Press. 14 (4): 943–977. doi:10.1093/rfs/14.4.943. JSTOR 2696732.
  • McGaughey, E. (2016), "The Codetermination Bargains: The History of German Corporate and Labour Law". Columbia Journal of European Law 23(1) 135.
  • German Stock Corporations Act 1965 translation

December 19, 2023
aktiengesellschaft, german, pronunciation, ˈaktsi, ənɡəˌzɛlʃaft, abbreviated, pronounced, aːˈgeː, german, word, corporation, limited, share, ownership, which, owned, shareholders, whose, shares, traded, stock, market, term, used, germany, austria, switzerland,. Aktiengesellschaft German pronunciation ˈaktsi enɡeˌzɛlʃaft abbreviated AG pronounced aːˈgeː is a German word for a corporation limited by share ownership i e one which is owned by its shareholders whose shares may be traded on a stock market The term is used in Germany Austria Switzerland where it is equivalent to a societe anonyme or a societa per azioni and South Tyrol a for companies incorporated there It is also used in Luxembourg as Aktiegesellschaft pronounced ˈɑktsjeɡeˌzaelʃɑft although the equivalent French language term societe anonyme is more common citation needed In the United Kingdom the equivalent term is public limited company and in the United States while the terms incorporated or corporation are typically used technically the more precise equivalent term is joint stock company 1 though note for the British term only a minority of public limited companies have their shares listed on stock exchanges 2 Contents 1 Meaning of the word 2 Legal basis 3 Structure 4 Similar forms 5 See also 6 Explanatory notes 7 References 8 Further readingMeaning of the word edit nbsp Example of an Aktie with a nominal value of 1 000 ℛ ℳ The German word Aktiengesellschaft is a compound noun made up of two elements Aktien meaning an acting part or share and Gesellschaft meaning company or society English translations include share company or company limited by shares or joint stock company In German the use of the term Aktien for shares is restricted to Aktiengesellschaften Shares in other types of German companies e g GmbH or a cooperative are called Anteile parts of rather than Aktien 3 4 Legal basis editIn Germany and Austria the legal basis of the AG is the German Aktiengesetz abbr AktG shares law or the Austrian Aktiengesetz abbr AktG Since the German commercial law 19 Handelsgesetzbuch requires all corporations to specify their legal form in their name in order to inform the public of the limits on their liability all German required by 4 Aktiengesetz and Austrian stock corporations include Aktiengesellschaft or AG as part of their name frequently as a suffix In Switzerland the Company Limited by Shares Aktiengesellschaft in German societe anonyme in French societa anonima in Italian societad anonima in Romansh is defined in Title Twenty Six of the Code of Obligations Article 620 Article 950 specifies that the business name must indicate the legal form 3 Structure editGerman AGs have a two tiered board structure consisting of a supervisory board Aufsichtsrat and a management board Vorstand The supervisory board is generally controlled by shareholders although employees may have seats depending on the size of the company The management board directly runs the company but its members may be removed by the supervisory board which also determines the management board s compensation Some German AGs have management boards which determine their own remuneration but that situation is now relatively uncommon The general meeting is the supreme governing body of a Swiss company limited by shares It elects the board of directors Verwaltungsrat in German and the external auditors The board of directors may appoint and dismiss persons entrusted with managing and representing the company 5 Similar forms editThe equivalent terms in other countries include the following which mostly mean literally either share company society or anonymous company society Argentina Bolivia Costa Rica Peru Spain and other Spanish speaking countries Sociedad Anonima S A Belgium Dutch language Netherlands Naamloze Vennootschap N V Belgium French language France Societe Anonyme S A Brazil Sociedade Anonima S A or S A or SA Bulgaria Akcionerno druzhestvo Akcionerno druzhestvo derived directly from the German AG Croatia dionicko drustvo d d Czech Republic Akciova spolecnost a s Denmark Aktieselskab A S Estonia Aktsiaselts AS Finland Osakeyhtio Oy Greece Anwnymos Etaireia Anonymos Etaireia A E but often translated as S A Hungary Reszvenytarsasag Rt Japan Kabushiki gaisha K K originally derived directly from the German AG the term is based on the German until law reforms under the United States led Occupation of Japan made the form similar to Illinois corporate law Italy Societa per azioni SpA derived directly from the German AG Malaysia Berhad Bhd Norway Aksjeselskap AS Romania Societate pe acțiuni or Societate anonimă S A Russia Publichnoe akcionernoe obshestvo Publichnoe akcionernoe obschestvo PAO Serbia deonicarsko drustvo d d and akcionarsko drustvo a d Slovakia Akciova spolocnost a s Sweden Aktiebolag AB Turkey Anonim Sirket A S Poland Spolka akcyjna SA Portugal Sociedade Anonima S A United Kingdom and Ireland English Public limited company Plc United Kingdom Welsh cymdeithas cyhoeddus cyfyngedig ccc See also editGesellschaft mit beschrankter Haftung GmbH Explanatory notes edit A German speaking region of Italy References edit Google Translate reports Aktiengesellschaft translates as joint stock company This page https www londonstockexchange com statistics companies and issuers companies and issuers htm Archived 2019 11 15 at the Wayback Machine visited September 24 2019 has a list of all public companies in Britain and it numbers 2001 entries This page How many limited companies are there in the UK Archived 2019 11 05 at the Wayback Machine Company Bug visited September 24 2019 says there are 1 9 million limited companies in Britain a b What Is AG Aktiengesellschaft Investopedia Archived from the original on 2022 04 05 Retrieved 2022 04 05 English Translation of Aktiengesellschaft Collins German English Dictionary Archived from the original on 2023 07 02 Retrieved 2022 04 05 What is an Aktiengesellschaft stock company September 10 2018 Archived from the original on May 19 2022 Retrieved April 5 2022 Further reading editFohlin Caroline November 2005 Chapter 4 The History of Corporate Ownership and Control in Germany PDF In Morck Randall K ed A History of Corporate Governance around the World Family Business Groups to Professional Managers University of Chicago Press pp 223 282 ISBN 0 226 53680 7 Franks Julian Colin Mayer 2001 Ownership and Control of German Corporations The Review of Financial Studies Oxford University Press 14 4 943 977 doi 10 1093 rfs 14 4 943 JSTOR 2696732 McGaughey E 2016 The Codetermination Bargains The History of German Corporate and Labour Law Columbia Journal of European Law 23 1 135 German Stock Corporations Act 1965 translation Retrieved from https en wikipedia org w index php title Aktiengesellschaft amp oldid 1189767874, wikipedia, wiki, book, books, library,

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