Search results
People also ask
What is a corporation in economics?
What does a corporation mean?
What is a corporation & how does it work?
What is Business Economics?
May 11, 2024 · corporation, specific legal form of organization of persons and material resources, chartered by the state, for the purpose of conducting business.
- What Is A Corporation?
- Incorporation
- Legal Requirements
- Operating A Corporation
- Liquidating A Corporation
- The Bottom Line
A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. A distinguishing characteristic of a corporation is limited liabi...
A corporation is created when a business is incorporated by a group of shareholders with a common goal. Shareholders share ownership of a business, as represented by their holding of stock shares. Corporations may return a profit to their shareholders. Some corporations, such as charities and fraternal organizations, are nonprofit or not-for-profit...
Each state has its own laws regarding incorporation. Most states require the owners to file articles of incorporation with the state and then issue stock to the company's shareholders.The shareholders elect a board of directors in an annual meeting. Turning a private corporation into a public corporationis complex, as the company must comply with f...
The shareholders of a corporation typically receive one vote per share and may hold an annual meeting during which they elect a board of directors.The board hires and oversees the senior management responsible for the corporation's day-to-day activities. The board of directors also executes the corporation's business plan. Although the members are ...
Incorporation can be ended using the process called liquidation. This may result from a voluntary decision to cease operations or may be forced by the financial collapse of the business. A company appoints a liquidator who sells the corporation's assets. The company pays off its creditors and distributes any remaining money to the shareholders. An ...
A corporation may be formed by an individual or group with a shared goal and can be a for-profit or not-for-profit entity. Corporations possess many of the same legal rights and responsibilities as individuals. The limited liability nature of a corporation means that its shareholders are not personally responsible for the company's debts.
Apr 1, 2024 · Business economics is a field of applied economics that studies the financial, organizational, market-related, and environmental issues faced by corporations. Business economics...
Feb 5, 2018 · While the term may be easy to define, identifying which corporations are socially responsible and which are not is difficult. The difficulty in correctly identifying a socially responsible firm is an example of a broader problem in making sound economic judgments: the need to take into...
Mar 31, 2017 · In adhering to the idea that in an advanced economy the corporation can be construed as a ‘market imperfection’, the well-trained neoclassical economist reveals his or her ignorance about the operation and performance of the modern business corporation, and the modern economy to which it is central.
- William Lazonick
- 2017
A corporation is an organization —usually a group of people or a company —authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
The corporation has become a dominant form of economic life. While corporations have been with us since the early modern era, their influence and importance have grown exponentially. Today, corporations are among the largest economic entities in the world.
