Sarbanes-Oxley scares off European CEOs
Nearly two-thirds of European company chiefs say they are less likely to access US capital markets as a result of the controversial Sarbanes-Oxley legislation.
Link: In depth: Sarbanes-Oxley Act
Despite some concessions being made to the legislation recently, 61% European CEOs surveyed as part of a global survey indicated that they would turn their backs on the US, citing over-regulation as the biggest threat to their business.
Overall, though, of the nearly 1,000 CEOs questioned by PricewaterhouseCoopers, in its sixth annual survey, almost three quarters were confident about their corporate growth prospects in the coming year.
Eight-five percent said they were ‘well placed’ to seize growth prospects, while only 4% said they were not yet ready to grasp opportunities.
Sam DiPiazza, PricewaterhouseCoopers CEO said: ‘Today’s CEO exudes great confidence for business success in 2003. Our survey shows that chief executives see new opportunities in the current market and that they have positioned themselves well to take advantage of them.’