CEOs are optimistic about opportunities in global markets, and believe that U.S. capital markets would gain from legal and regulatory reforms, according to an opinion survey of chief executives conducted on behalf of the New York Stock Exchange.

The NYSE reports that CEOs expect the global trade environment to have a favorable impact on their businesses in the near future, according to a survey of CEOs conducted by Opinion Research Corp. on behalf of NYSE Euronext.

The responses from the 240 CEOs of NYSE-listed companies suggest that an organization’s ability to conduct business globally will be vital to its success in 2008 and beyond, it noted. Nearly half of the CEOs (48%) cited global trade as having a favourable affect on their organizations, signaling more optimism in their outlook on the global trade environment, compared with 38% in the 2007 report.

The survey results also indicate that most CEOs view emerging markets as an opportunity, while very few see them as a threat. Companies based outside the U.S. are even more positive about emerging markets than those based in the U.S.

While the U.S. continues to be seen as the most crucial market for doing business, China and Western Europe are also regarded as important regions. In addition, the emerging economies of India and Eastern Europe are now becoming increasingly important as possible locations to set up operations. Moving operations offshore is also being cited as a successful business strategy, with 47% of NYSE CEOs indicating that their company has moved operations offshore at some time.

“Global expansion is no longer just the domain of a few forward thinking CEOs. For today’s leaders, the question is not whether to expand globally, but rather which markets to focus on,” said Jeff Resnick, president of Opinion Research USA. “It is clear from this year’s survey that globalization is now part of the fabric of decisions concerning market extension, operations, growth and profit.”

The report also illustrates that CEOs believe changes to the American legal system to lower litigation risks would increase the competitiveness of U.S. capital markets (according to 94% of U.S. CEOs and 79% of non-US CEOs). 88% of CEOs would consider the streamlining of the U.S. regulatory system and the easing of certain governance rules and regulations as positive moves.

“The questions we get [from regulatory bodies] reveal the lack of knowledge about the energy industry, its enormous scale and the long-term nature of our business,” says Rex Tillerson, CEO of ExxonMobil Corp. “Without understanding our business fundamentals, policy-makers might make decisions today that can have long-term, negative consequences for society.”

The report also assesses CEO views on topics ranging from growth opportunities and risks to technology ROI, regulatory compliance, globalization, human capital and reputation management.

Insights include: 81% believe they take sufficient action to manage their companies’ reputation, while 47% of the adult American public feels CEOs could do more; almost one-third of CEOs will spend more time on customer relations; more than half expect to spend more money on it; and two in ten CEOs cite customer satisfaction as the most crucial element to their long-term success as CEO; 43% of non-U.S. CEOs feel strongly that they have a positive relationship with their boards, versus just 24% of US CEOs.

The third annual survey of CEOs of NYSE-listed companies was conducted from February 22 through March 28. 240 CEOs participated in the study; 78% are U.S. based and 22% are from non-U.S. companies. There was a margin of error of 6%.