Disclosure practices of foreign companies interacting with U.S. markets

The disclosure practices of companies were analyzed as a function of their interaction with U.S. markets for a group of 794 firms from 24 countries in the Asia-Pacific and Europe, using the Transparency and Disclosure scores developed by Standard & Poor's. A positive association is found between the disclosure scores and the various market interaction measures, including U.S. listing, U.S. investment flows, exports, and operations in the United States.