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Linking BR across agencies domains and among countries Questions incurred & solutions proposed through European Profiling . ESSnet on « profiling large and complex MNEs ». Objectives and choosen way slides 3 to 6 Cluster and perimeters: what differences? slides 7 & 8

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Linking BR across agencies domains and among countriesQuestions incurred & solutions proposed through European Profiling

essnet on profiling large and complex mnes
ESSnet on « profiling large and complex MNEs »
  • Objectives and choosen way slides 3 to 6
  • Cluster and perimeters: what differences?slides 7 & 8
  • Appearances of MNEs and “statistics” slide 9
  • Ability to produce structural statistical data slides 10 to 15
  • Consultation, dissemination and future work slide 16
essnet on profiling large and complex mnes the main objectives of the essnet profiling project
ESSnet on « profiling large and complex MNEs »the main objectives of the ESSnet Profiling project
  • describe consistently the same MNEs in the EU countries

=> “enterprises” linked between countries through the EGR

  • support efficient data collection in SBS, FATS, FDI & if possible in STS

=> a system of statistical units for all statistical agencies

  • for direct dissemination and for indirect use (National accounts etc)

=> most statistical domains concerned

-

slide4
ESSnet on « profiling large and complex MNEs »the choosen way: move towards economic definition of enterprises

Profiling is a method:

  • to analyse the
    • legal – operational and – accounting
  • structure of an enterprise group
  • in order to
    • establish the statistical units within that group and
    • their links and
    • the most efficient structures
  • for the collection of statistical data
slide5
ESSnet on « profiling large and complex MNEs »the choosen way: use economic information coming from the businesses

Profiling :

  • uses the MNEs information system for accounting consolidation
  • takes the operating segment as a starting point for delineation of economic “enterprises”(IFRS8), but can differ at the end
  • with the result that an enterprise is (can be):
    • a single legal unit (if independant)
    • an enterprise group(i.e a set of legal unit under common control)
    • a part of an enterprise group.
  • as “enterprises” are organisational units, their autonomy (in decision making for allocation of their current resources) is an essential characteristic.
  • => The delineation, list, name of the “enterprises” are built with and agreed by the MNEs.
slide6
ESSnet on « profiling large and complex MNEs »the choosen way: stop trying to define enterprise by bottom-up methods
  • as

- that is an organisational unit

- producing goods and services (for the market)

- … with a certain degree of autonomy in decision making

- especially for the allocation of its current resources

essnet on profiling large and complex mnes global cluster and perimeter of consolidation
ESSnet on « profiling large and complex MNEs »Global cluster and « perimeter » of consolidation
  • Is the profiled MNE = consolidated MNE ?
  • Both cases include:
    • direct or indirect majority of interest
    • other types of control
      • de jure (legal prescriptions, agreements between shareholders etc)
      • de facto (e.g effective permanent majority)
  • and exclude statutory limited or temporary suspended voting rights or the effect of specific (golden) minority shares

No geographic limitation (indirect can be through foreign affiliates)

=> cooperation between EU NSIs is necessary

essnet on profiling large and complex mnes global cluster and perimeter of consolidation1
ESSnet on « profiling large and complex MNEs »Global cluster and « perimeter » of consolidation
  • The amendments of the EU BR recommandation manual, that ensure the MNEs to be mutually exclusive:
    • Consider the highest level of consolidation (the GGH or the UCI level; always the highest “diplayed” level)
    • Include only the “entirely integrated units”(“proportional” integration disappears in 2013)
    • Add the controlled but not integrated units (the “too small”) (we miss a concrete criterium and find no way to reintegrate them)
    • Discount temporary links (now done most of the time by accountants)
  • Our remarks in grey + work on “investment funds” (private equity) that we do not consider as MNEs + work on “subgroups”
  • Main conclusion: differences lessening between accounts and our wishes.
essnet on profiling large and complex mnes mne appearances translation in the statistical world
ESSnet on « profiling large and complex MNEs »MNE appearances, translation in the statistical world
  • Can we limit us to general methods? (No) or do we need a typology of MNEs? (Yes)
    • the subsidiary principle => each of the 500 MNE to UCI country (on 27 , 31 etc)
    • the lack of standards for displayed accounting tables
    • => try to include typology + profiling strategy
  • A purely pragmatic typology => necessity of permanent up-dates / an insight on management principles (?) => permanence of the typology ?
  • A list of scale effects supposed to lead to types of MNEs / a list of regional-local conditions / resulting effects: now testing the emergence of the hoped typology.
slide10
ESSnet on « profiling large and complex MNEs »Ability of the « enterprise » unit to produce structural statistical data
  • For most EU statisticians, a large change to the usual way:

from surveying SUs (statistical units), predetermined in the BR, to a dialog with MNEs using the common business accounting language

  • Leads to necessary pre-checks, from BR staff:
    • Are the variables we need available in the MNE information system at the level of the “enterprises”?
    • If yes, are they economically significant?
  • The checkings are to be made at EU level (no more at national level):
    • are there theoretically consistent data all over the EU?
    • will we be able to gather them consistently from the truncated national parts of the “enterprises”?
slide11
ESSnet on « profiling large and complex MNEs »Ability of the « enterprise » unit to produce structural statistical data
  • What are the main variables to check, (statisticians view)?

- the usual BR variables (to identify, assess the continuity and link different kind of units, split the populations and stratify);

- the SBS variables; as such and as one of the main providers of NA

- the NA themselves

- + attention to outward-FATS statistics, that operate at the MNE level on “enterprises”

  • How can the MNEs work on checkings (the business view)?
    • They ask for a priority list
    • They want this list to be common to all European countries
    • They ask for common questionnaires for priority variables
    • They know better accounting data than any other
  • => priority to components of value added

(accounting shape), the “core variables”

slide12
ESSnet on « profiling large and complex MNEs » Core variables: the highest priority to test ability for SBS & NA:
essnet on profiling large and complex mnes core variables reconciliation with the p l
ESSnet on « profiling large and complex MNEs » Core variables: reconciliation with the P&L
slide14
ESSnet on « profiling large and complex MNEs » Core variables: where to find the right variables in the financial statement?
slide15
ESSnet on « profiling large and complex MNEs » Core variables: what if a complete balance-sheet for the enterprise?
essnet on profiling large and complex mnes consultation dissemination and future work
ESSnet on « profiling large and complex MNEs » consultation, dissemination and future work
  • Our project lasts until the end of 2013, now mainly on testing
  • We try to be in constant coordination with:
    • the EGR methodological studies
    • an ESSnet project on Consistency
    • the EU studies on globalisation (e.g on value chains) and on MNEs
    • the Eurostat groups on BR, SBS, FATS, NA
    • other interested countries (US, Canada, China …)
    • international bodies such as OECD, UNECE, etc
  • We will appreciate your comments:

pierre.teillet@insee.fr

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Thank you for your attention