Though NYSE CEO John Thain noted in a speech last week that foreign companies were less likely to participate in U.S. markets due to Sarbanes-Oxley, a recent survey suggests the opposite.

The study, conducted by Broadgate Capital Advisors and The Value Alliance, found that SOX has had a minimal impact on ADR issuers.

Only 8 percent of the 143 respondents said SOX requirements would lead them to reconsider U.S. market participation, and only half said the U.S. has more rigorous governance practices than their company's home country.

Thain

Thain, who also echoed his sentiments in a Wall Street Journal opinion piece, was quoted as saying, "The recent drought in foreign listings indicates a declining willingness (or need) to participate in U.S markets."

The complete speech is available, below:

Read NYSE CEO John Thain's Speech At The Economic Club Of NYC