Interestingly, some common transparency elements such as financial calendars and
investment information for matrix 1 obtained a low percentage (13.3 per cent) which
indicates only a few companies provided this information. Similarly in terms of annual
reports (matrix 2) elements such as mission statements also obtained a low percentage
(20 per cent). The average percentages for both matrixes are 62.1 and 65.8 per cent,
respectively. The percentages above 50 per cent specify that most of the transparency
attributes are being implemented whether in the form of corporate web sites or annual
reports.