ADRs and US investor expectations
Legend has it that noted bank robber Willie Sutton, when asked why he robbed banks, replied, 'That's where the money is.' The same can be said of US securities markets, the largest in the world. By year-end 1997, the securities of an estimated 1,400 foreign companies from more than 44 countries were traded in US public equity markets. Even companies like Daimler-Benz and China's Huaneng Power International have been willing to put themselves under US reporting requirements in order to access
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Carolyn Brancato
Dr Carolyn Kay Brancato is director of the Conference Board's Global Corporate Governance Center
