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A joint-stock company (JSC) is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). [ 1 ]
S.A. (spółka akcyjna): ≈ joint-stock company, otherwise translated plc (UK). Minimum share capital zl 100,000 (approx. €25,000). P.S.A. (prosta spółka akcyjna) = simple joint-stock company, otherwise translated simple plc, a new company type 2021, actually a simplified version of the former type
A closed joint-stock company (закрытое акционерное общество, abbreviated "CJSC" in English, "ЗАО" is Russian) is a legal entity whose shares are distributed among a limited number of shareholders – maximum 50. The statutory minimum charter capital is 10,000 Russian roubles.
In a joint-stock company, the members are known as shareholders, and each of their shares in the ownership, control, and profits of the corporation is determined by the portion of shares in the company that they own. Thus, a person who owns a quarter of the shares of a joint-stock company owns a quarter of the company, is entitled to a quarter ...
OAO, Russian: Открытое акционерное общество, ОАО An open company has the right to conduct open subscription to its shares – among an unlimited group of persons and closed subscription (a limited predetermined group of persons), if the opportunity to conduct a closed subscription is not limited by company's charter or legal acts.
OAO and PAO are forms of open joint-stock companies, while ZAO (and AO) are closed joint-stock companies. [5] [6]The Federal Agency for State Property Management (Rosimushchestvo) is authorized by the Russian government to exercise shareholder rights for federally-owned shares in companies and is responsible for the preparation and nomination of candidates at the annual meetings of shareholders.
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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.