Global Edge: Using the Opacity Index to Manage the Risks of Cross-border Business
With globalisation a reality, companies no longer have a choice about whether to do business across borders. But it contains hidden risks—and firms need strategies and tactics for recognising and managing those risks. In Global Edge, Joel Kurtzman and Glenn Yago offer two breakthrough tools for better managing the hard-to-see perils of going global.Their CLEAR framework explains the specific—and potentially expensive—challenges businesses face overseas: corruption, the legal system, enforcement policy, accounting standards and governance, and regulatory developments. And the Opacity Index (a proprietary tool updated online for readers) measures how countries are ranked relative to each CLEAR factor, so companies can balance their exposure.Drawing on a decade of fieldwork with companies and governments, the authors present a new way to anticipate, analyse, and manage hidden global business risks. In an age when a systematic understanding of global risks is still in its infancy, this insightful and practical guide takes the subject from the realm of academic interest and plants it squarely in management circles.
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One Everyday Risks of Going Global
Two The Costs of Opacity
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accounting opacity accounting standards Argentina assets audit Banking Crises Brazil bribes capital markets chaebols China CLEAR factors companies company's complexity contracts corporate governance corruption cost of capital costs of opacity coun countries country's court create Czech Republic debt decisions drug Economist Enforcement Opacity Enron financial markets financial system Finland firms foreign direct investment foreign investment funds Gazprom Glenn Yago global high-opacity higher impact income increased India Indonesia industrial interest rates International Monetary Fund investors Israel Japan labor laws legal and enforcement legal opacity legal system levels of opacity measures ment Milken Institute million monetary NGOs officials Opacity Index opacity risks Opacity score opaque operations overall patent payments political portfolio PricewaterhouseCoopers problems profits reforms regulations regulatory opacity reporting result rules Russia sector shareholder Singapore South Korea structures tion trade Transparency International United Kingdom Venezuela World Bank