Opening the Books

Opening the Books


Investors need a guardian angel.In Mexico, home to traditional, family-owned businesses whose proprietors answer to few, the idea of opening books to outside investors and being more transparent is slowly sinking in. If investors are confident that their money will be used wisely, honestly and to their advantage, the reasoning goes, then they will cough up more cash. If they don't trust, they will be too skittish to invest. The scrutiny of Mexican corporate practices during TV Azteca chief Ricardo Salinas Pliego's brush with US law last year has shown local companies that back-room deals can land them in lots of trouble. "The reason that corporate governance is so important in t

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