Message to our Members
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| >Moisés Tiktin Nickin>viceChairman of the Board of Directors |
In this context, being prepared through higher standards of professional management and good corporate governance have proven to be key factors in success. Many companies already listed on our market have achieved this through talent and properly directed action to keep their sources of funding active. This has helped them to meet their financial requirements under a variety of circumstances, particularly at important moments in the lives of their corporations--mergers or acquisitions, for example--which have fortified their position in domestic or global markets.
Some of these successful companies have learned how to share their results with their own employees, through stock or option plans; others have increased their capacity for issuing debt instruments, made substantial acquisitions, or taken part in jumbo projects requiring extraordinary amounts of resources. For example, a number of publicly-traded corporations are taking part in the National Infrastructure Program and the National Program for Sustainable Housing Development, having forged an excellent reputation for strong management and corporate governance over the years. These market corporations have reached a level of financial preparedness that allows them to take on debt or raise capital at any time it may be needed to bid on and participate in the great projects that this nation is building.
Mexico has proven that it has private companies and public agencies that are up to the standards of the best in the world. We believe it could have a great many more. Our challenge is to multiply this group, and this attitude. This is the scenario in which we must continue on the path of development, toward higher standards of well-being in all spheres.
Thinking of access to the securities market as a goal in itself is a limited concept. The market is merely one tool available to companies working toward higher goals, and it should be a part of their long-term corporate and strategic objectives.
The idea that sums up this message we have been putting out to promote the market, is that the securities market is a set of support mechanisms, at the service of the more successful companies--not necessarily the largest, but those whose track record and performance inspire confidence in the investing public and among institutional investors ready to commit their resources to long-term financing in the form of bonds and stocks. >>
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