Despite all the excitement surrounding the future growth prospects of China, the United States is still the market that most CEOs of NYSE-listed companies see as strategically most important and where they plan to focus more of their attention when doing their strategic planning for 2007. That is one of the findings of NYSE Group’s second annual survey of CEOs of NYSE-listed companies.
The survey sheds light on the thinking of 205 chief executives on topics ranging from corporate governance and global operations to business opportunities and challenges. It was conducted from February to April this year by Opinion Research Corp., an independent market-research and consulting firm, on behalf of NYSE Group Inc.
“This survey provides timely and unique insight into the minds of global chief executives,” said NYSE Executive Vice President Noreen Culhane. “Their informed views on the challenges and opportunities facing business leaders today and, more importantly, their expectations for tomorrow’s business clientele make this instructive reading.”
The CEOs polled in the survey average seven years in their roles as chief executives and lead companies in diverse industries. They represent 21 countries and a combined global market capitalization of $1.7 trillion.
The survey turns up many striking observations, particularly with regard to views on the costs of complying with the Sarbanes-Oxley Act, legislation introduced in 2002 to tighten corporate governance practices in the wake of multiple corporate failures. While almost all the CEOs said compliance costs increased, they were divided as to whether the increase had cut into efforts to grow their businesses. The majority (61 percent) said it hadn't. The remainder said that strategic planning, infrastructure and marketing had suffered as a result of increased compliance costs.
“The survey is a definitive window into the minds of the world’s top business executives,” said Ms. Culhane.
Click here for the NYSE CEO Report 2007 and coverage of the report in the nyse magazine.
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