European Companies Keep Business Opaque
Byline: Kit Bingham
Continental European companies are less transparent than their US, UK and Japanese rivals, according to a comparative analysis of 1,500 companies by Standard & Poor's, the rating agency.While European groups' financial disclosure matched their international peers, they were much less open about how they were structured and run.
George Dallas, managing director of S&P's governance services, says: "Continental Europe is somewhat behind, mainly in non-financial areas such as ownership structure, investor rights and board processes."
S&P's transparency and disclosure rankings, published last week, place UK companies in …
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Publication information: Article title: European Companies Keep Business Opaque. Contributors: Not available. Newspaper title: Financial News. Publication date: October 20, 2002. Page number: Not available. © Not available. COPYRIGHT 2002 Gale Group.