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The state in which all relevant information is fully and freely available to the public. Nearly every analyst agrees that transparent markets are desirable because they lead to greater efficiency. Laws and regulations exist in most jurisdictions encouraging or mandating transparency. For example, the SEC requires disclosure forms declaring a great many different actions when or immediately after they occur. Likewise, the Sarbanes-Oxley Act is designed to increase transparency in accounting. A minority view holds that these laws and regulations intended to create transparent markets in fact reduce efficiency. Others contend that markets are efficient with or without transparency. See also: Efficient market hypothesis.


The full, accurate, and timely disclosure of information.
Case Study Ford Motor Company executives indicated in spring 2001 that the company planned to provide shareholders and analysts with greater transparency of the firm's financial results. As part of the improved transparency, Ford was expected to report separate results from its Premier Automotive Group (PAG), comprising Aston Martin, Jaguar, Lincoln, Land Rover, and Volvo Cars. In the prior year Ford reported an operating loss of $35 million in Europe only because income from PAG and customer services mostly offset operating losses of nearly $1 billion in its other European operations. At the time Ford did not report profits for individual brands or product groups. Transparency permits shareholders and analysts a greater understanding of a firm's operations, including which parts of the firm are most and least profitable. This, in turn, places greater pressure on the firm's management to produce acceptable results in all facets of a company's operations.


Transparency is a measure of how much information you have about the markets where you invest, the corporations whose stocks or bonds you buy, or the mutual funds or other investments you select.

For example, in order to achieve maximum transparency in US markets, the Securities and Exchange Commission (SEC) requires corporations to disclose all information that might have an impact on their financial status so that investors can make fully informed decisions.

Real-time trading information, increasingly available to individuals as well as institutional investors, and linked pricing systems are other steps toward complete transparency.

References in periodicals archive ?
Selon le ministre, l'adhesion du Maroc a l'initiative de partenariat OGP permettra au Royaume d'obtenir un label de la transparence et de la bonne gouvernance, ce qui devra permettre de gagner la confiance des hommes d'affaires et d'attirer des investissements etrangers.
De cette facon, I'ICC s'assure que les renseignements personnels des membres sont traites avec transparence et securite selon les exigences de la nouvelle loi.
In Transparence Brogger illustrates her state of maturity by references to her markedly reduced intake of whiskey and wine in order to have a good time with friends.
Ces nouvelles dispositions reglementaires visent a mettre en place des indicateurs qui favorisent le maximum de transparence et instaurer un bon nombre d'alertes pour une grande vigilance, afin d'attirer l'attention sur les pratiques malsaines passibles de sanctions penales.
Le renforcement des mecanismes de transparence et de participation citoyenne passe par l'amelioration de l'acces aux informations budgetaires et la mise en place d'une gestion financiere fondee sur la performance, ainsi qu'a travers l'elaboration et la mise en oeuvre d'une politique de consultation publique, outre le renforcement de la decentralisation financiere.
Les ONG ont condamne les methodes et moyens sans transparence, arbitraires et discriminatoires sun lesquels lo Directeur General do I'OMC et son Secretariat ont preside, et qui ont ete diriges par les pays developpes pnincipaux.
In its opinion issued on 5 July 2006 the Commission de la Transparence had indeed "noted with interest the ongoing GuidAge Study".
Les etapes d'organisation du concours pour l'acces aux corps des secretaires et attaches des Affaires etrangeres sont marquees par le [beaucoup moins que] respect scrupuleux [beaucoup plus grand que] des textes pertinents et une [beaucoup moins que] totale transparence [beaucoup plus grand que], a-t-on indique, hier, aupres du ministere des Affaires etrangeres.
Le Professeur Abdullah Ahmad Mahdi, vice-president de la CEN a indique dans un communique de presse que la commission travaillera en toute transparence et integrite pour effectuer le travail.
Further, the document also comprises exchange of experience in the sphere of launching of rotation system in the governmental service, transparence, professional growth and e-government efficiency.
Rabat - Le Ministere de l'Equipement et du Transport mobilisera, a l'occasion de l'Aid Al Adha, une capacite supplementaire de transport par la delivrance aux professionnels d'autorisations exceptionnelles de renforcement de lignes afin de satisfaire les besoins additionnels previsibles, sur la base d'une procedure d'appel d'offre visant la transparence et l'equite entre les entreprises.
Le manque de transparence rend hautement improbable que cette liste de candidats puisse representer la large volonte du peuple iranien ou incarner un changement", a declare M.