01827cas a2200253 a 4500 AALejournalIMF001484 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451850208 1018-5941 BD-DhAAL BD-DhAAL Sarr, Abdourahmane. Benefits of Compliance with Securities Listing Standards : Evidence From the Depository Receipt Market / Abdourahmane Sarr. Washington, D.C. : International Monetary Fund, 2001. 1 online resource (19 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students 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. Mode of access: Internet United States imf IMF Working Papers; Working Paper ; No. 2001/079 Full text available on IMF http://elibrary.imf.org/view/journals/001/2001/079/001.2001.issue-079-en.xml IMF e-Library