NEW YORK – Increased regulation and raised standards for financial reporting are hurting the international competitiveness of U.S. businesses, a survey of chief executives found.
The survey released Tuesday by Chief Executive magazine found more than one-half of CEOs said current levels of regulation hurt competitiveness, with another 11 percent saying they "significantly hurt."
Most corporate leaders also said they are spending more on compliance, having increased funding for staff training, technology infrastructure, and for new software.
Separately, the magazine's monthly index of CEO confidence fell in February, though a majority of the 265 CEOs surveyed still describe current business conditions as "good."
The magazine pointed to concerns about terrorism, interest rates, inflation, and a flat stock market, as reasons for the decline in the index to a reading of 172.5, down 9.9 points from January.
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