ABSTRACT
The power of multinational corporations to control and co-ordinate resources internationally gave rise to increased pressures in the 1970s for extensions in public accountability and control (Choi and Mueller 1984; Gray 1984). Information was perceived to be a key factor in this 'age of regulation' as a necessary means of monitoring the multinationals. The 1980s promised to be more of an 'age of understanding' as nations endeavoured, with the help of the multinationals, to emerge from recession and move into a recovery and growth phase. While the climate for multinationals is currently more tolerant, this does not mean that the further regulation of information disclosure is now unlikely. Pressures for investor protection or employee communication may well increase in a more favourable economic environment. Further indications of likely pressures are provided by recently witnessed corporate scandals, giant takeover battles and increasingly internationalized financial markets.
