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represent firms

English translation: work for companies

16:38 Feb 9, 2023
English language (monolingual) [PRO]
Business/Commerce (general)
English term or phrase: represent firms
In the context below, does 'represent firms' mean that they become the company's representative and manage their own assets? I would be grateful if you could let me know


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Collectively, these respondents directly manage more than $500 billion in assets and represent firms that manage $12 trillion to $15 trillion in assets.
soojung hyun
South Korea
Selected answer:work for companies
Explanation:
This is a survey. Here's the full context:

BCG has surveyed investors every year since 2009 to understand their views on global equity markets and priorities for shareholder value creation. There were 260 responses to the 2018 survey. Approximately 80% of the survey respondents were portfolio managers, and 20% were buy-side and sell-side analysts; 48% focused on the US, while most of the others focused on Europe or invested globally. ***Collectively, these respondents directly manage more than $500 billion in assets and represent firms that manage $12 trillion to $15 trillion in assets.***
http://www.bcg.com/publications/2019/investors-brace-for-dow...

So they're not acting as agents for these companies, just answering the survey on their behalf.
Selected response from:

philgoddard
United States
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
5 +5work for companies
philgoddard
4Represent firms
João Bernardon
5 -1Designated to Act
Bilisa Daniel
5 -2are a (hopefully representative] sample from firms
Daryo
4 -2the respondents are firms that ...
AllegroTrans


  

Answers


4 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Represent firms


Explanation:
Yes, "represent firms" in this context likely means that the respondents are representatives or representatives of firms (e.g. asset management companies) and manage assets on behalf of those firms. The $12 trillion to $15 trillion in assets that are mentioned are the assets that are managed by the firms that the respondents represent, rather than the assets that the respondents directly manage themselves.

João Bernardon
Brazil
Local time: 12:06
Native speaker of: Native in PortuguesePortuguese

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: They're employees of the companies.
4 mins
neutral  Tony M: It just means they are legitimate persons to answer a survey, and thier answers represent the opinions of these various firms.
42 mins
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6 mins   confidence: Answerer confidence 5/5 peer agreement (net): +5
work for companies


Explanation:
This is a survey. Here's the full context:

BCG has surveyed investors every year since 2009 to understand their views on global equity markets and priorities for shareholder value creation. There were 260 responses to the 2018 survey. Approximately 80% of the survey respondents were portfolio managers, and 20% were buy-side and sell-side analysts; 48% focused on the US, while most of the others focused on Europe or invested globally. ***Collectively, these respondents directly manage more than $500 billion in assets and represent firms that manage $12 trillion to $15 trillion in assets.***
http://www.bcg.com/publications/2019/investors-brace-for-dow...

So they're not acting as agents for these companies, just answering the survey on their behalf.

philgoddard
United States
Specializes in field
Native speaker of: English
PRO pts in category: 36
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Tony M: Not necessarily even "work for", actually — just express opinions that represent those of these companies.
41 mins
agree  Christopher Schröder
2 hrs
agree  danya
22 hrs
neutral  Daryo: Respondents do work for these firms, that's correct but that's not the key point of the sentence // Whether your ambiguous "their" refers to the respondents or the firms makes no difference, it's still not the key point.
1 day 9 hrs
agree  Audrey Kidwell: The context about the survey is helpful. The respondents work for firms which manage $x trillion dollars. This helps describe the magnitude or coverage of the survey.
3 days 23 hrs
agree  Nicholas Laurier Eveneshen: Explained well!
6 days
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9 mins   confidence: Answerer confidence 5/5 peer agreement (net): -1
Designated to Act


Explanation:
means the Member who is designated to act as the representative of the Firm in accordance with the Regulations. If someone such as a lawyer or a politician represents a person or group of people, they act on behalf of that person or group.

Bilisa Daniel
Ethiopia
Local time: 18:06
Native speaker of: Native in OromoOromo, Native in AmharicAmharic

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: They're not designated to act, they're just answering the survey.
14 mins
disagree  Tony M: As Phil says, this cannot be inferred from the S/T — it's simply like saying '50 athletes representing 6 countries'
30 mins
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -2
the respondents are firms that ...


Explanation:
I don't think this means that the respondents are representative or agents

constitute; amount to.
"this figure represents eleven per cent of the company's total sales"

I think it is meaning 11 below:


represent
1 of 2
verb (1)
rep·​re·​sent ˌre-pri-ˈzent
represented; representing; represents
Synonyms of represent

transitive verb
1: to bring clearly before the mind : present
a book which represents the character of early America
2: to serve as a sign or symbol of
the flag represents our country
3: to portray or exhibit in art : depict
4: to serve as the counterpart or image of : typify
a movie hero who represents the ideals of the culture
5a
: to produce on the stage
b: to act the part or role of
6a(1)
: to take the place of in some respect
(2) to act in the place of or for usually by legal right
(3): to manage the legal and business affairs of
athletes represented by top lawyers and agents
b: to serve especially in a legislative body by delegated authority usually resulting from election
7: to describe as having a specified character or quality
represents himself as a friend
8a: to give one's impression and judgment of : state in a manner intended to affect action or judgment
b: to point out in protest or remonstrance
9: to serve as a specimen, example, or instance of
10a: to form an image or representation of in the mind
b(1): to apprehend (an object) by means of an idea
(2): to recall in memory
11: to correspond to in essence : constitute

https://www.merriam-webster.com/dictionary/represent


AllegroTrans
United Kingdom
Local time: 16:06
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 36

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: No, these are individuals.//It says 80% were managers, and 20% were analysts. // In the additional context in my answer.
36 mins
  -> I can't see anything in asker's text to say they are individuals and I am a loss to see where 80% and 20% appears
disagree  Christopher Schröder: They are clearly individual portfolio managers // When did a firm ever manage assets within another firm? It’s really not worth doubling down on.
1 hr
  -> Cannot firms, trusts etc. manage assets? Nothing in the short snippet of text says they are individuals; you could be right but we would need more context
disagree  Daryo: the relevant meaning (for this ST) 9: to serve as a specimen, example, or instance of // in this ST respondents are individual managers, not the firms where they work.
23 hrs
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1 day 1 hr   confidence: Answerer confidence 5/5 peer agreement (net): -2
are a (hopefully representative] sample from firms


Explanation:
Collectively, these respondents directly manage more than $500 billion in assets and represent firms that manage $12 trillion to $15 trillion in assets.
=
Collectively, these respondents directly manage more than $500 billion in assets and form a sample taken from firms (where they work) that manage $12 trillion to $15 trillion in assets.

IOW

they "represent" these firms in the sense that their opinions are a "representative sample" of the ways of thinking of all the assets managers working in these firms:

the respondent themselves manage more than $500 billion, but what they have to say illustrates the ways of thinking of firms that manage $12 trillion to $15 trillion

https://www.investopedia.com/terms/r/representative-sample.a...

They are not any kind of "legal representatives", they "represent" the firms where they work in the same way that around 2000 people answering a voting intention survey would "represent" the whole 47-odd million UK electorate. (yes, that's right no more than 2 thousand people is enough to predict fairly accurately what 47 million people will do)


Daryo
United Kingdom
Local time: 16:06
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 12

Peer comments on this answer (and responses from the answerer)
disagree  philgoddard: It doesn't say anything about their being a representative sample. If anything, they're the opposite - it's a self-selecting survey.
25 mins
  -> Statistics 101 are definitely Martian landscape for you ... as is seeing what's implicit in a text (but then you need to understand enough the subject matter to spot it ...)
disagree  Christopher Schröder: It just doesn’t say that. // It has nothing to do with statistics and everything to do with language. Maybe it’s more obvious to a native.
2 days 4 hrs
  -> Really? You have some new definition / description of how statistical sampling works? Please amend manuals ...
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