Globalization continues to be a major business driver for firms across the world, and an organization's ability to conduct business globally will be vital to its success in 2008 and beyond, according to a new NYSE survey of 240 chief executives. Further, the report, conducted on behalf of NYSE Euronext by Opinion Research Corp., says that nearly half (48 percent) of the CEOs who participated cited global trade as having a favorable effect on their organizations, compared with 38 percent in the 2007 report, signaling more optimism in the C-suite's outlook on the global trade environment.
"Global expansion is no longer just the domain of a few forward-thinking CEOs. For today's leaders, the question is not whether to expand globally, but rather which markets to focus on," said Jeff Resnick, president of Opinion Research USA, in a release. "It is clear from this year's survey that globalization is now part of the fabric of decisions concerning market extension, operations, growth and profit."
At the same time, however, the report reveals that global CEOs believe the U.S. capital markets would stand to gain from legal and regulatory changes. Ninety-four percent of U.S. CEOs and 79 percent of non-U.S. CEOs believe changes to the American legal system to lower litigation risks would increase the competitiveness of U.S. capital markets. In addition, 88 percent of CEOs would consider the streamlining of the U.S. regulatory system and the easing of certain governance rules and regulations as positive moves, the survey says.
While the U.S. continues to be seen as the most crucial market, China and Western Europe also are regarded as important regions, the report states, noting that the emerging economies of India and Eastern Europe also are increasingly important as possible locations to set up operations.
The third annual survey of CEOs of NYSE-listed companies was conducted from Feb. 22 through March 28, 2007. Seventy-eight percent of the CEOs surveyed are U.S.-based and 22 percent are from non-U.S. companies. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio