Hello Hogayoga,
We're finally there :)
Of the 50 cases of the sample, I could review 44. All the 50 are
listed below. For each, the first line is the company name, the second
the company website's URL, the third one the code of ethics' URL, the
fourth is the Flesch Reading Ease (FRE) score, and the fifth
corresponds to the Flesch-Kincaid Grade Level (FKGL) -- except for
those that I couldn't find, which instead have the respective
explanation. Also, you can retrieve the original Excel file with the
result of this search added at
http://us.f2.yahoofs.com/bc/3ccd1ef5/bc/Code_of_Ethics/973a.xls?bfJp5_DBpHoxkJ2r
Interestingly, for all cases the FKGL is 12. As I told you in a
previous post, to avoid testing distortions due to formatting
alteration when changing from Adobe to Word, in most cases I had to do
some editing -- such as removing paragraph marks from the middle of
the sentences or others of the kind; nothing that would modify the
comprehensibility of the original test -- but time consuming for
documents ranging from 20 to 80 pages. Well, only when I performed the
test before editing the FKGL scored over 12.
As to FRE, the average was 22.68, very close to the median -- 22.60.
The highest score was 36, achieved by Edison International, while the
lowest is hold by Universal Health Services, with 7.8 -- in an abrupt
fall, the next value is 14.70 (Hilton Hotels). There are three values
repeating two occurrences each: 22.50 (Goldman Sachs Group /
McGraw-Hill), 23.60 (Kroger / Office Depot), and 27.80 (Lockheed /
SWA).
According to these results, 41 out of 44 (93.18%) have scored below 30
-- the three above 30 are Starbucks Corporation, YUM! and Edison
International; American Express was very close with 29.90 and next
Genuine Pars with 29.20. Below 30 is considered "best understood by
college graduates" in the corresponding article at Wikipedia
(http://en.wikipedia.org/wiki/Flesch-Kincaid_Readability_Test ). So, I
would interpret these results as expressing that a 12th grader could
read these texts but not necessarily understand them -- unless maybe
with an important effort.
The stats are calculated in the spreadsheet at
http://us.f2.yahoofs.com/bc/3ccd1ef5/bc/Code_of_Ethics/Stats.xls?bfn25_DBelv3OBs7
By the way, this text is FRE 45.3 and FKGL 9.5. But, if not
considering the list below, it changes to FRE 35.1 and FKLG 12.
I hope this answer has met your expectations. However, please do not
hesitate to ask for clarification if needed.
Regards,
Guillermo
The results:
Ace Hardware
http://www.acehardware.com
CODE OF ETHICS NOT FOUND
Allied Waste Industries, Inc.
http://www.alliedwaste.com
http://media.corporate-ir.net/media_files/IROL/74/74587/corpgov/CodeofEthics0304.pdf
24,1
12
Altria Group, Inc.
http://www.altria.com
http://www.altria.com/download/pdf/about_altria_BOD_codeethics.pdf
20,3
12
Amazon.com, Inc.
http://www.amazon.com
http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-govConductPrint
23,1
12
American Express Company
http://www.americanexpress.com
http://ir.americanexpress.com/phoenix.zhtml?c=64467&p=irol-govConduct
29,9
12
Anheuser-Busch Companies, Inc.
http://www.anheuser-busch.com
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=BUD&script=2250
18,4
12
Armstrong Holdings
http://www.armstrong.com/
http://www.armstrong.com/common/uscorp/content/files/5608.pdf
24
12
Avaya Inc.
http://www.avaya.com
http://investors.avaya.com/governance/conduct.shtml
17
12
Comcast Corporation
http://www.comcast.com
http://www.cmcsk.com/phoenix.zhtml?c=118591&p=irol-govConduct
15,4
12
Dillard's, Inc.
http://www.dillards.com
http://www.shareholder.com/dillards/conduct.cfm
15,1
12
E. I. du Pont de Nemours and Company
http://www.dupont.com
http://www2.dupont.com/Social_Commitment/en_US/assets/downloads/conductguide/Business_Ethics_Policy_and_Procedures.pdf
21,2
12
Edison International
http://www.edison.com
http://media.corporate-ir.net/media_files/irol/85/85474/reports/200509_ethics_code.pdf
36
12
Exxon Mobil Corporation
http://www.exxon.mobil.com
http://www.exxonmobil.com/corporate/files/corporate/Code_ethics.pdf
FILE PROTECTED -- UNABLE TO COPY
Farmland Industries
http://www.farmland.com/
I FOUND THE CORPORATE URL BUT IT GRANTS NO ACCESS, SHOWING MESSAGE:
"You are not authorized to view this page"
Federal-Mogul Corporation
http://www.Federal-Mogul.com
http://www.federal-mogul.com/vgn/images/portal/cit_776/15974723Integrity%20Program%20.pdf
22,7
12
FPL Group, Inc.
http://www.fplgroup.com
http://www.fplgroup.com/governance/contents/code_of_conduct.shtml
19,2
12
Genuine Parts Company
http://www.genpt.com
http://www.genpt.com/corporate/GPC_New_Code_of_Conduct_(Summer_2003_Version).pdf
29,2
12
Goldman Sachs Group
http://www.goldmansachs.com
http://www.goldmansachs.com/our_firm/investor_relations/corporate_governance/articles/corporate_governance_030224195742.html
22,5
12
Hilton Hotels
http://www.hilton.com/en/hi/index.jhtml
http://media.corporate-ir.net/media_files/irol/88/88577/corpgov/codeofethics_013004.pdf
14,7
12
International Paper Company
http://www.ipaper.com
http://www.ipaper.com/Our%20Company/Ethics%20and%20Business%20Practice/Code%20of%20Business%20Ethics.html
26,6
12
KB Home
http://www.kbhome.com
http://media.corporate-ir.net/media_files/IROL/11/111266/Ethics.pdf
15,3
12
Kerr-McGee Corporation
http://www.kerr-mcgee.com
http://www.kerr-mcgee.com/SiteObjects/files/code0703.pdf
17,1
12
Kroger
http://www.kroger.com
http://www.thekrogerco.com/documents/EthicsPolicy.pdf
23,6
12
Lear Corporation
http://www.lear.com
http://ir.lear.com/downloads/ir_cg_conduct.pdf
20,2
12
Levi Strauss & Co.
http://www.levistrauss.com
CODE OF ETHICS NOT FOUND
Lockheed Martin Corporation
http://www.lockheedmartin.com
http://www.lockheedmartin.com/data/assets/7856.pdf
27,8
12
May Department Stores
http://www2.mayco.com/common/index.jsp
I FOUND THE CORPORATE URL BUT NOT THE CODE OF ETHICS IN THE WEBSITE
McGraw-Hill
http://www.mcgraw-hill.com
http://investor.mcgraw-hill.com/phoenix.zhtml?c=96562&p=irol-govcobe
22,5
12
Office Depot, Inc.
http://www.officedepot.com
http://www.officedepot.com/companyinfo/companyfacts/ethics.pdf
23,6
12
Omnicom Group Inc.
http://www.omnicomgroup.com
http://www.omnicomgroup.com/governance/codeofconduct
19,1
12
Pathmark Stores, Inc.
http://www.pathmark.com
http://www.pathmark.com/cminc/pdf/investor-sec/CodeofConduct.pdf
26,1
12
PepsiCo, Inc.
http://www.pepsico.com
http://www.pepsico.com/PEP_Investors/CorporateGovernance/CodeofConduct/english/images/Code_of_Conduct.pdf
25,9
12
Pfizer Inc
http://www.pfizer.com
http://www.pfizer.com/pfizer/download/investors/corporate/business_conduct_policies_summary_2003.pdf
26,2
12
Prudential Financial, Inc.
http://www.prudential.com
http://www.investor.prudential.com/downloads/MakingTheRightChoices2.pdf
16,7
12
RadioShack Corporation
http://www.radioshack.com
http://media.corporate-ir.net/media_files/NYS/RSH/gov/RSH_CodeOfEthics.pdf
20,8
12
Rite Aid Corporation
http://www.riteaid.com
http://www.riteaid.com/company_info/images/code_of_ethics.pdf
19,3
12
Sealed Air Corporation
http://www.sealedaircorp.com
http://www.sealedair.com/corp/conduct.html#conduct
24,9
12
Southwest Airlines Co.
http://www.southwest.com
http://www.southwest.com/investor_relations/fs_corporate_governance.html
27,8
12
Starbucks Corporation
http://www.starbucks.com
http://www.starbucks.com/aboutus/US_English_full_kit.pdf
32,5
12
Target Corporation
http://www.target.com
http://media.corporate-ir.net/media_files/irol/65/65828/corpgov/business_conduct_guide.pdf
21,7
12
Tyson Foods, Inc.
http://www.tysonfoodsinc.com
http://media.corporate-ir.net/media_files/irol/65/65476/govDocs/codeofconduct.pdf
28,7
12
Unisys Corporation
http://www.unisys.com
http://www.unisys.com/common/investors/other/Code_of_Ethics.pdf
25,6
12
Universal Health Services, Inc.
http://www.uhsinc.com
http://www.uhsinc.com/ir_governance1.php
7,8
12
Valero Energy Corporation
http://www.valero.com
http://www.valero.com/NR/rdonlyres/25F13BDB-3B40-4A82-A62C-CF3B4246E687/0/03CodeofBusinessConductandEthics08062004.pdf
19,7
12
Verizon Communications Inc.
http://www.verizon.com
http://www22.verizon.com/about/careers/pdfs/CodeOfConduct.pdf
20,4
12
Winn-Dixie Stores, Inc.
http://www.winn-dixie.com
http://www.winn-dixie.com/company/governance/Code_of_Conduct_040104.pdf
28,3
12
Wisconsin Energy Corporation
http://www.wisconsinenergy.com
THE CORPORATE URL WOULDN'T WORK
Wm. Wrigley Jr. Company
http://www.wrigley.com
http://media.corporate-ir.net/media_files/NYS/WWY/conduct2.pdf
27,7
12
Xcel Energy Inc.
http://www.xcelenergy.com
http://www.xcelenergy.com/XLWEB/CDA/0,3080,1-1-1_18554_24076-2217-0_0_0-0,00.html
16,6
12
YUM! Brands, Inc.
http://www.yum.com
http://www.yum.com/governance/media/gov_conduct092404.doc
32,6
12 |