Calculate control and cash flow right

[Bastien Maire]

Dear Listers,

I have data regarding the anatomy of corporate control of different listed firms. The data is organized in pair of firms as it's shown below, and the variables are defined as:


rut: numeric id of each owner firm
rut_verif: the last digit of the "rut". It ranges from 0 to 9, and in exceptional cases it can take "k" or "e" values.
name: name of the owner firm
c_own_rut: numeric id of each subsidiary firm
c_own_rut_verif: the last digit of the "c_own_rut". It ranges from 0 to 9, and in exceptional cases it can take "k" or "e" values.
c_own_name_ name of the subsidiary firm
c_own_1: percentage of direct ownership that the owner firm has over the subsidiary
position: approximate position of the owner firm in the corporate anatomy of the holding
IDBG: id of the holding
fil_n: number of direct subsidiaries that the owner firm has.
firms_n: number of direct owners that the subsidiary has.

* Example generated by -dataex-. To install: ssc install dataex
clear
 rut rut_verif name c_own_rut c_own_rut_verif c_own_name c_own_1 position IDBG fil_n firms_n
91806000 "6" "Abastible S.A."                                        76565182 "4" "Abastible Internacional S.A."                              100 4 1 12 1
90690000 "9" "Empresas Copec S.A."                                   91806000 "6" "Abastible S.A."                                        99.1998 3 1 14 1
79874200 "0" "Via Limpia SpA"                                             999 ""   "Administradora Central de Estaciones de Servicio Ltda"      .1 5 1  5 2
79689550 "0" "Administradora de Estaciones de Servicios Serco Ltda."      999 ""  "Administradora Central de Estaciones de Servicio Ltda"    99.9 5 1  3 2
99520000 "7" "Compañía de Petroleos de Chile Copec S.A."           79689550 "0" "Administradora de Estaciones de Servicios Serco Ltda."    99.9 4 1 15 2
79874200 "0" "Via Limpia SpA"                                        79689550 "0" "Administradora de Estaciones de Servicios Serco Ltda."      .1 5 1  5 2
79874200 "0" "Via Limpia SpA"                                        79927140 "0" "Administradora de Servicios Generales Ltda"                 .1 5 1  5 2
79689550 "0" "Administradora de Estaciones de Servicios Serco Ltda." 79927140 "0" "Administradora de Servicios Generales Ltda"               99.9 5 1  3 2
77215640 "5" "Administradora de Ventas al Detalle Ltda."             77614700 "1" "Administradora de Servicios de Retail Ltda."              99.9 5 1  2 2
99520000 "7" "Compañía de Petroleos de Chile Copec S.A."           77215640 "5" "Administradora de Ventas al Detalle Ltda."              87.354 4 1 15 2
79689550 "0" "Administradora de Estaciones de Servicios Serco Ltda." 77215640 "5" "Administradora de Ventas al Detalle Ltda."              12.646 5 1  3 2
93458000 "1" "Celulosa Arauco y Constitución S.A."                         0 "E" "Agenciamiento y Servicios Profesionales S.A. de C.V."     .002 3 1 20 1
96563550 "5" "Inversiones Arauco Internacional Ltda."                       0 "E" "Agenciamiento y Servicios Profesionales S.A. de C.V."    99.99 4 1 20 2
94082000 "6" "Inversiones Siemel S.A."                               77072740 "5" "Agricola Siemel Ltda."                                 99.9858 2 1 10 1
99520000 "7" "Compañía de Petroleos de Chile Copec S.A."           96942120 "8" "Air BP Copec S.A."                                          50 4 1 15 2
99520000 "7" "Compañía de Petroleos de Chile Copec S.A."           76122974 "5" "Algae Fuels S.A."                                           44 4 1 15 2
76578731 "9" "Aprovisionadora Global de Energia S.A."                96761130 "1" "Andes Operaciones y Servicios S.A."                         50 4 1  5 1
93809000 "9" "Inversiones Angelini y Compañía Limitada"            96925430 "5" "AntarChile S.A."                                         74.01 1 1  3 .
90690000 "9" "Empresas Copec S.A."                                   76578731 "9" "Aprovisionadora Global de Energia S.A."                  39.83 3 1 14 1
96893820 "7" "Corpesca S.A."                                                0 "E" "Araguaia Nutrição Ltda."                               99.99 4 1 12 2
93458000 "1" "Celulosa Arauco y Constitución S.A."                         0 "E" "Arauco Argentina S.A."                                  9.9753 3 1 20 1
96563550 "5" "Inversiones Arauco Internacional Ltda."                       0 "E" "Arauco Argentina S.A."                                   90.01 4 1 20 2
96563550 "5" "Inversiones Arauco Internacional Ltda."                       0 "E" "Arauco Australia PTY Ltd."                                 100 4 1 20 2
93458000 "1" "Celulosa Arauco y Constitución S.A."                  96547510 "9" "Arauco Bioenergia S.A."                                     98 3 1 20 1
85805200 "9" "Forestal Arauco S.A."                                  96547510 "9" "Arauco Bioenergia S.A."                                      2 4 1 10 2
96510970 "6" "Maderas Arauco S.A."                                          0 "E" "Arauco Colombia S.A."                                     2.96 4 1  2 2
96637330 "K" "Servicios Logísticos Arauco S.A."                            0 "E" "Arauco Colombia S.A."                                     1.48 4 1  1 2
96563550 "5" "Inversiones Arauco Internacional Ltda."                       0 "E" "Arauco Colombia S.A."                                    92.61 4 1 20 2
93458000 "1" "Celulosa Arauco y Constitución S.A."                         0 "E" "Arauco Colombia S.A."                                   1.4778 3 1 20 1
85805200 "9" "Forestal Arauco S.A."                                         0 "E" "Arauco Colombia S.A."                                     1.48 4 1 10 2
96563550 "5" "Inversiones Arauco Internacional Ltda."                       0 "E" "Arauco Europe Cooperatief U.A."                          99.43 4 1 20 2
end

Now consider the case of the subsidiary "Administradora Central de Estaciones de Servicio Ltda." (from now on "firm B"). As you can see, firm B has 2 different owners: Via Limpia SpA (from now on firm A) and Administradora de Estaciones de Servicios Serco Ltda. (from now on firm C). To calculate the total ownership of firm B, i need to consider that firm A has direct ownership over firm B, but also indirect ownership through firm C (firm C owns 0.1% of firm B, and firm A owns 0.1% of firm C. Firm C owns 99.9% of firm B).
Hence, when we consider the relationship between the pair of firms, A owns 100% of the property of B (directly and through C). Then, when we consider cash flow rights of firm A over firm B, we have: 0.1+0.1*99.9=10.9%.

So the example above summarizes what i need to automatize. The thing is that i'm not sure how can i design a code that can identify the owners of a specific firm, and to do the operations needed to compute the total control and cash flow rights between a pair of firms.

Best regards,

Bastien Maire

[Phil Bromiley]

Welcome Bastien to Statalist.

You didn't get a quick answer. You'll increase your chances of a precise answer by following the FAQ on asking questions - provide Stata code in code delimiters, readable Stata output, and sample data using dataex. Also, it helps if you simplify things as much as possible while still retaining the basic problem. Not need to include any variables you don't use, etc., maybe even create an artificial data set (or use one of the data sets provided by Stata in the documentation). What you've posted is extremely complex looking. If you did this with Firm A, Firm B etc., it wouldn't look as daunting.

Frankly, I can't see how to do what you want to do efficiently. You might try a new post that is more user friendly and see if someone more skilled takes an interest.