Limit search to available items
Book Cover
Author Sarr, Abdourahmane.

Title Benefits of compliance with securities listing standards : evidence from the depository receipt market / Abdourahmane Sarr
Published [Washington, D.C.] : International Monetary Fund, Monetary and Exchange Affairs Dept., [2001]
Online access available from:
IMF eLibrary    View Resource Record  


Description 1 online resource (18 pages) : illustrations
Series IMF working paper ; WP/01/79
IMF working paper ; WP/01/79
Summary The paper finds that costs of implementing stringent securities listing standards may exceed benefits. Depository receipts, a growing source of international equity financing, differ in types by the reporting and disclosure standards issuing firms are required to meet. For lower levels of compliance, results show that factors associated with the stage of economic development of the issuing firm's country account for the lower levels of capital raised. Incurring reporting costs to comply with higher standards may thus be inefficient. In contrast, firms choosing to meet higher reporting and disclosure standards do so because the information revealed would have a positive effect on capital raised
Bibliography Includes bibliographical references (page 18)
Notes Print version record
Subject American depository receipts -- Econometric models.
Capital market -- Econometric models.
Investments, Foreign -- Econometric models.
Securities -- Listing -- Standards -- Econometric models.
Form Electronic book
Author International Monetary Fund. Monetary and Exchange Affairs Department.
ISBN 1281429996