Full Disclosure The Perils And Promise Of Transparency

Governments in recent decades have employed public disclosure strategies to reduce risks, improve public and private goods and services, and reduce injustice. In the United States, these targeted transparency policies include financial securities disclosures, nutritional labels, school report cards, automobile rollover rankings, and sexual offender registries. They constitute a light-handed approach to governance that empowers citizens. However, as Full Disclosure shows these policies are frequently ineffective or counterproductive. Based on a comparative analysis of eighteen major policies, the authors suggest that transparency policies often produce information that is incomplete, incomprehensible, or irrelevant to the consumers, investors, workers, and community residents who could benefit from them. Sometimes transparency fails because those who are threatened by it form political coalitions to limit or distort information. To be successful, transparency policies must place the needs of ordinary citizens at centre stage and produce information that informs their everyday choices.

Which SUVs are most likely to rollover? What cities have the unhealthiest drinking water? Which factories are the most dangerous polluters? What cereals are the most nutritious? In recent decades, governments have sought to provide answers to such critical questions through public disclosure to force manufacturers, water authorities, and others to improve their products and practices. Corporate financial disclosure, nutritional labels, and school report cards are examples of such targeted transparency policies. At best, they create a light-handed approach to governance that improves markets, enriches public discourse, and empowers citizens. But such policies are frequently ineffective or counterproductive. Based on an analysis of eighteen U.S. and international policies, Full Disclosure shows that information is often incomplete, incomprehensible, or irrelevant to consumers, investors, workers, and community residents. To be successful, transparency policies must be accurate, keep ahead of disclosers' efforts to find loopholes, and, above all, focus on the needs of ordinary citizens.

In Transparency and Secrecy, Suzanne Piotrowski organizes the literature on governmental openness within a useful, original framework. The presentation of contemporary cases, original documents, study questions, and class material makes the reader readily accessible to students.

While its importance in domestic law has long been acknowledged, transparency has until now remained largely unexplored in international law. This study of transparency issues in key areas such as international economic law, environmental law, human rights law and humanitarian law brings together new and important insights on this pressing issue. Contributors explore the framing and content of transparency in their respective fields with regard to proceedings, institutions, law-making processes and legal culture, and a selection of cross-cutting essays completes the study by examining transparency in international law-making and adjudication.

In a world where web services can make real-time data accessible to anyone, how can the government leverage this openness to improve its operations and increase citizen participation and awareness? Through a collection of essays and case studies, leading visionaries and practitioners both inside and outside of government share their ideas on how to achieve and direct this emerging world of online collaboration, transparency, and participation. Contributions and topics include: Beth Simone Noveck, U.S. Deputy Chief Technology Officer for open government, "The Single Point of Failure" Jerry Brito, senior research fellow at the Mercatus Center at George Mason University, "All Your Data Are Belong to Us: Liberating Government Data" Aaron Swartz, cofounder of reddit.com, OpenLibrary.org, and BoldProgressives.org, "When Is Transparency Useful?" Ellen S. Miller, executive director of the Sunlight Foundation, "Disrupting Washington's Golden Rule" Carl Malamud, founder of Public.Resource.Org, "By the People" Douglas Schuler, president of the Public Sphere Project, "Online Deliberation and Civic Intelligence" Howard Dierking, program manager on Microsoft's MSDN and TechNet Web platform team, "Engineering Good Government" Matthew Burton, Web entrepreneur and former intelligence analyst at the Defense Intelligence Agency, "A Peace Corps for Programmers" Gary D. Bass and Sean Moulton, OMB Watch, "Bringing the Web 2.0 Revolution to Government" Tim O'Reilly, founder and CEO of O'Reilly Media, "Defining Government 2.0: Lessons Learned from the Success of Computer Platforms" Open Government editors: Daniel Lathrop is a former investigative projects reporter with the Seattle Post Intelligencer who's covered politics in Washington state, Iowa, Florida, and Washington D.C. He's a specialist in campaign finance and "computer-assisted reporting" -- the practice of using data analysis to report the news. Laurel Ruma is the Gov 2.0 Evangelist at O'Reilly Media. She is also co-chair for the Gov 2.0 Expo.

Effective corporate reporting and disclosure are critical in financial markets to promote vigorous competition, optimal performance, and transparency. This book examines whether existing disclosure frameworks in eight countries with the world's most significant securities exchanges achieve these objectives, and then, drawing on extensive empirical findings, identifies the policies and practices that contribute most to improving the overall quality of listed company reporting and communication. Contending that public disclosure of listed company information is an essential precondition to the long-term efficient operation of financial markets, the book provides analysis of such issues and topics as the following: - arguments for and against mandatory disclosure regimes; - key principles of periodic and continuous disclosure regulation; - tensions between direct and indirect investment in financial markets; - assumptions concerning the need to maintain a privileged role for financial intermediaries; - intermediary, analyst, and research incentives; - protection of individual investors; - selective disclosure; - disclosure of bad news; - the role of accounting standards; - public access to company briefings; - long term performance reporting and analysis; and - company reporting developments. A significant portion of the book provides an overview of disclosure regulation and practice in the United States, Canada, Germany, the United Kingdom, Japan, Hong Kong, Australia, and Singapore. A highly informative survey looks at company reports, disclosures, and websites of large listed companies, including Microsoft, Citigroup, Teck Resources, Deutsche Bank, BP, Sony, PetroChina Company, BHP Billiton, and Singapore Telecommunications. The book discusses common disclosure issues that arise across jurisdictions, provides valuable insights on the efficacy of existing disclosure regulation and practice, and highlights the important principles, processes, and practices that underpin best practice company disclosure frameworks. It will be welcomed by company boards and executives and their counsel, as well as by policymakers and scholars in the areas of corporate, securities, banking and financial law, accounting, economics and finance.

Ever since the nation's most important secret meeting--the Constitutional Convention--presidents have struggled to balance open, accountable government with necessary secrecy in military affairs and negotiations. For the first one hundred and twenty years, a culture of open government persisted, but new threats and technology have long since shattered the old bargains. Today, presidents neither protect vital information nor provide the open debate Americans expect.

The 2009 United Nations climate conference in Copenhagen is often represented as a watershed in global climate politics, when the diplomatic efforts to negotiate a successor agreement to the Kyoto Protocol failed and was replaced by a fragmented and decentralized climate governance order. In the post-Copenhagen landscape the top-down universal approach to climate governance has gradually given way to a more complex, hybrid and dispersed political landscape involving multiple actors, arenas and sites. The Handbook contains contributions from more than 50 internationally leading scholars and explores the latest trends and theoretical developments of the climate governance scholarship.