#corporategovernanceproblems

[davidcok]

The Dutch East India Company (VOC) was an early-modern corporate model of vertical jntegration and diversifying international trade. The VOC was a megacorporation, transcontinental employer and corporate pioneer in foreign direct investments. Officially the first formal publicly traded company in the world. By issuing shares and bonds the VOC gaining a capital of 6.5 million guilders after its first emission in 1602. However, after 21 years annual reports were still missing and all the profit was re-invested. This almost 400 year old original document shows the first recorded shareholder activism or shareholder evolt, where investors were complaining about self enrichment and secrecy demanding a financial audit (“reeckeninge”). The company books had been smeared by bacon to be eaten by dogs. Modern corporations are more or less all based on this early VOC model, it could be labelled as the start of modern capitalism. It felt special and weird to hold one of the few original copies left.... #historyofinternationalprivatelaw #voc #dutch #proudtobedutch #capitalism #firstipo #firstpubliccompany #corporatelaw #corporatepioneer #corporategovernance #societas #universitas #globalbusinesshistory #institutionalinnovations #megacorporation #foreigndirectinvestments #governanceissues #shareholderactivism #corporategovernanceproblems #shareholderrevolt #corporatesocialresponsibility (at Erasmus University Rotterdam) https://www.instagram.com/p/CIQ5GHnF7bR/?igshid=xsn6v671anpp