The Firm and the Choice between Transparency and Secrecy
Kessler, Denis
The Firm and the Choice between Transparency and Secrecy - 2001.
17
Openness has gradually become the rule in the business world, under the influence of the communication technologies revolution, the evolution of the internal organization of firms, the transition from a debt economy to a self-financing economy, the demands of markets and institutional investors, as well as the evolution of corporate law. Openness and information are essential to the good operation of the economy, and their development corresponds to the necessary conditions of a « pure and perfect » competition. However, the demand for an absolute openness of firms, notably under the pressure of consumerism and the fight against frauds and illicit pratices, must respect the rules of industrial property, as well as a certain degree of confidentiality necessary for efficient management.
The Firm and the Choice between Transparency and Secrecy - 2001.
17
Openness has gradually become the rule in the business world, under the influence of the communication technologies revolution, the evolution of the internal organization of firms, the transition from a debt economy to a self-financing economy, the demands of markets and institutional investors, as well as the evolution of corporate law. Openness and information are essential to the good operation of the economy, and their development corresponds to the necessary conditions of a « pure and perfect » competition. However, the demand for an absolute openness of firms, notably under the pressure of consumerism and the fight against frauds and illicit pratices, must respect the rules of industrial property, as well as a certain degree of confidentiality necessary for efficient management.
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