Indian firms best, China worst |
India has the most transparent companies while Chinese firms are the most opaque, according to a Transparency International survey.The survey covered 100 companies in 15 emerging market countries that also included Brazil, Mexico and Russia.India led the way, with all 19 of its companies in the study achieving a score of 75 percent of more in being open about their company structures and holdings which was attributed to the country`s Companies Act.The study found Chinese companies fared worst, with an average score of 1.6 out of 10 in the tests, due to having weak or non-existent anti-corruption policies and procedures. Thirty-seven Chinese companies were evaluated, making them the survey`s biggest group, but they had the weakest overall performance. The three companies that scored zero out of 10 were all Chinese: automaker Chery, appliance maker Galanz and auto parts maker Wanxiang Group. The list`s bottom 25 spots were also dominated by Chinese companies.The very weak Chinese results stem from weak or non-existent anti-corruption policies and procedures, or a clear failure to disclose them in line with international practice.
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