Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa write by Olatundun Janet Adelegan. This book was released on 2008-12. Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa available in PDF, EPUB and Kindle. This study analyzes the impact of regional cross-listing of stocks on the depth of the stock markets in sub-Saharan Africa (SSA). It analyzes data from 1990 to 2007 for a panel of 13 stock markets in SSA countries, only some of which have regional cross-listings. Using event study methodology, the paper finds significant positive effects in measures of stock market depth around regional cross-listing events. Overall, growth in the regional crosslisting of stocks facilitates stock market deepening, and the stock markets of countries with regional cross-listings perform better than those without. The study thus suggests that SSA countries can benefit from putting in place the necessary conditions for promoting regional cross-listings and thereby deepening their stock markets. These include sound legal and regulatory frameworks, macroeconomic and political stability, harmonization of listing rules, accounting laws and disclosure requirements across the region, and strong money markets.
The Impact of the Regional Cross-listing of Stocks on Firm Value in Sub-Saharan Africa
The Impact of the Regional Cross-listing of Stocks on Firm Value in Sub-Saharan Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Impact of the Regional Cross-listing of Stocks on Firm Value in Sub-Saharan Africa write by Olatundun Janet Adelegan. This book was released on 2009. The Impact of the Regional Cross-listing of Stocks on Firm Value in Sub-Saharan Africa available in PDF, EPUB and Kindle.
Stock Market Development in Sub-Saharan Africa
Stock Market Development in Sub-Saharan Africa - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Stock Market Development in Sub-Saharan Africa write by Charles Amo Yartey. This book was released on 2007-08. Stock Market Development in Sub-Saharan Africa available in PDF, EPUB and Kindle. This paper examines the economic importance of stock markets in Africa. It discusses policy options for promoting the development of the stock market in Africa. The results of the paper show that the stock markets have contributed to the financing of the growth of large corporations in certain African countries. An econometric investigation of the impact of stock markets on growth in selected African countries, however, finds inconclusive evidence even though stock market value traded seem to be positively and significantly associated with growth. African stock exchanges now face the challenge of integration and need better technical and institutional development to address the problem of low liquidity. Preconditions for successful regional approaches include the harmonization of legislations such as bankruptcy and accounting laws and a liberalized trade regime. Robust electronic trading systems and central depository systems will be important. Further domestic financial liberalization such as steps to improve the legal and accounting framework, private sector credit evaluation capabilities, and public sector regulatory oversight would also be beneficial.
Barriers to Global Stock Listing Among African Companies: Is It Cost or Compliance?
Barriers to Global Stock Listing Among African Companies: Is It Cost or Compliance? - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Barriers to Global Stock Listing Among African Companies: Is It Cost or Compliance? write by Dr. Emmanuel Asoluka Ihejirika. This book was released on 2015-09-11. Barriers to Global Stock Listing Among African Companies: Is It Cost or Compliance? available in PDF, EPUB and Kindle. As a classical empirical research study, the author investigated whether foreign investment into the U.S are hindered by SOX act, high compliance cost or high stock listing cost in NYSE and NASDAQ exchanges. This book is a practical and excellent resource for graduate academic research in business, showing how research methodology design and variables are operationalized. This book will benefit African firms and global investors listing shares overseas, including in U.S using Depositary Receipts (DRs). The increasing demand for Depositary Receipts is driven by the desire of individual and institutional investors to diversify their portfolios, reduce risk and invest internationally. While most investors recognize the benefits of global diversification, they also understand the challenges presented when investing directly in local trading markets. These obstacles can include inefficient trade settlements, uncertain custody services and costly currency conversions.
The role of cross-listings in establishing a Southern African Development Community regional stock exchange
The role of cross-listings in establishing a Southern African Development Community regional stock exchange - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The role of cross-listings in establishing a Southern African Development Community regional stock exchange write by Moses Wisdom Chisadza. This book was released on 2014-01-17. The role of cross-listings in establishing a Southern African Development Community regional stock exchange available in PDF, EPUB and Kindle. Master's Thesis from the year 2013 in the subject Economics - Case Scenarios, , course: LLM in International Trade, Investment and Business Law in Africa, language: English, abstract: It has been established that African stock markets are confronted with a multitude of problems which include, inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (SADC) stock markets with the exception of South Africa are small, both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance. It is contended that all these problems could be eased through regional financial integration. The integration of African stock markets and the introduction of regional stock exchanges will promote cross-border listings and thus stimulate increased liquidity across markets. Thus, it is suggested that the integration of SADC’s stock markets and the creation of a regional stock exchange is one of the panaceas to overcome Africa’s stock market problems. A regional stock exchange has the potential for tremendous benefits for both local and foreign investors, as well as for business enterprises in the region
