How transparent is the world? That depends where you are in it.
It's settled: transparency has a direct impact on the cost of capital. Investors, especially large institutional investors, are key to this equation, intensifying their pressure on corporate management to increase levels of disclosure. The exchange is fair: the more information they get, the more confident they are about putting their money into the market.The lesson has been learned time and again, with Enron just one of the most recent and harshest examples. From the Asian currency crisis
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