Sarbanes-Oxley Pushes Corporate US
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The Sarbanes-Oxley Act and its accompanying regulatory framework, has propelled the US to the top of the corporate governance pile. Ironically at the same time as companies are complaining about the amount of red tape they have to wade through. For the first time the US has overtaken Canada and the UK. A survey of 2,500 international companies found discovered the change. An improvement of over 10% was found for the US companies. Governance Metrics International conducted the survey. The 365 Japanese companies fared less well, scoring less than half of their US counterparts. Hong-Kong and French companies also fared badly. In general Anglo-Saxon countries such as Australia did better. Up to 500 publicly disclosed measures were compared across the companies. The spectrum of controls tested ranged from boardroom accontability to national regulatory controls. Companies that did well include 3M, Coca-Cola, Eastman Kodak and Gillette.
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