Kubic Harth
Accord Corporate Enterprise Syndicate
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Posted - 2008.08.16 05:19:00 -
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I would first like to start my post by stating that there seems to be so much confusion, and I can't get no relief.
I see this whole issue as being about a number of tiered issues that have to be decided upon each in turn before discussing anything further.
First, as the Honorable Cash Warbash has explained above me, private stock trading systems within a corp/alliance structure can and do work efficiently. They promote participation in the organization with stock rewards and the dividends that follow and allow for internal trading of those stocks for those in the organization. The issue with a system as described by Cash above is that it does not lend itself to a CCP-audited/administrated system without dramatic changes.
The differences between a privately traded corporation such as Cash's and publicly traded ones such as what many of you suggest could simply be distinguished by having a tag/flag within a new CCP stock market (abbrev. CCPSM)system. Those corporations that do not wish to be publicly traded should simply be private.
Beyond that, when dealing with the CCPSM there seem to be a number of important concerns/aspects that previous posters to this topic have mentioned. (I will only quote the first to mention them here and not comment myself if their points are clear.)
As Ricdic's Hoe said, then followed up by Matalino:
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(They)could start by just allowing shares to be able to track through (the) journal, and the ability to contract/trade them securely.
All that we are asking for is the means to contract/trade shares securely.
And as Cailais said:
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I think we need to understand why a player would want to purchase shares in a corp, and base a system around that. In my view a player would want to buy shares for 3 reasons:
1. Mid term investment & on ward sale: the player intends to sell the shares at some stage for more than the purchase price.
2. Long Term Income generation: the player intends to keep the shares an make his money back via dividends.
3. Political Control: the player wants a say in what the Corp does, from the base of being able to vote on issues, propose votes all the way up to full Corp ownership.
The share seller is selling these attributes - the expected dividend, political control and potential share value.
In order to achieve 'trust' in the share option the purchaser should be able to see the following:
1. The historic dividend pay out per share and the next dividend payout value / share. (this means dividend payouts should be a automated feature).
2. The percentage of ownership. e.g 1000 shares = 25% ownership.
And as joemina brought up, which seems to augment Cailais's point:
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Corps should not have to distribute dividends. It should be optional. Buyers of stock of corps that don't distribute dividends would be buying stock based in speculated increase in price and control of the company. Distributing dividends would help make a corporation's stock look more interesting to investors. These dividends should be automatic but not be guaranteed.
With the above in mind, it should be very simple for a CCPSM to be created that allows for stock in public corporations to be traded. This stock should be valuable based upon the profits of the corporation selling the stock and dividends should be paid out each period based upon said profit.
Any further specifics of such a system should only come about after a concept is accepted by the governing body (CSM). Anyone interested in such a system should also realize that any such implementation to eve would likely require many revisions before being complete and would not be complete if any obvious and non-obvious menthods of scamming and fraud can be seen.
I hope this post helps clarify and consolidate a number of the ideas floating about and I would welcome discussion with anyone on this subject. Please feel free to send me a message on the forums or in game.
Thank you for your time, Kubic Harth,ACES
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