Transparency

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Transparency

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.

transparency

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.

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 ?
GKN currently employs 280 people at its transparencies facility in Bedfordshire in the UK.
PPG expects the new S-406 inner and S-220 outer coatings will offer F-16 jet operators canopy transparencies with greater durability and affordability," Wright said.
In addition, Xerox RE-View Transparencies include other environmentally sensitive characteristics.
Sierracin's military aerospace transparencies business, particularly its advanced composite products for the fighter jet industry, will enhance our offering to this key industry.
The electrochromic transparencies will allow passengers to adjust the amount of light transmitted to five different levels from dark to clear, with a manual override for use by the flight crew.
PPG has begun preliminary design of the transparencies for the A400M, which will have two main windshields and four other cockpit windows.
PPG Aerospace will continue to work closely with Boeing on the design, development and manufacture of transparencies for its aircraft, whether those transparencies are installed on the airframe production line or by airlines as replacements," Morris said.
PRC-DeSoto, a global supplier of aerospace coatings and sealants, was acquired by PPG Industries in 1999 and joins PPG's aircraft transparencies business in marketing its products and services under the PPG Aerospace banner.
Our ability to work with Huntsville engineers allows us to draw on PPG's experience developed on such designs as those for the transparencies on the early F-111 and A-10 military aircraft," Silva said.
It has always been our goal, for all PPG transparencies, to develop the best designs and to use the best manufacturing processes in order for our parts to provide the best service life in the marketplace," Mang said.
PPG Industries' aerospace transparencies business, based in Huntsville, has been selected by Fairchild Dornier to design, manufacture and support the cockpit and passenger-cabin windows for its 728JET and derivative 928JET family of regional airliners.
With its transparency adapter, the OneTouch 8820 is ideally suited for home or small office users who want to scan slides, negatives and transparencies up to 5 by 7 inches, as well as traditional photographic prints.

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