Articles in "Finance"

The limited role of small stock exchanges in economic development: a case study of Mozambique and Swaziland

Author(s):

Bruce Hearn

 et al.
Topic:
Finance
Industry:
Banking

Two micro-markets, Mozambique and Swaziland, provide an interesting case study to examine the features of new markets in Sub-Saharan Africa that differ in a number of ways, including colonial legacy, membership of the Common Monetary Area and the dynamics of the political economy that defines the links between the citizens, the local elite and the state.

Updated: 22/09/2011
Comments:
Views: 2,487

Market liquidity and stock size premia in African emerging financial markets: the implications for foreign investment

Author(s):

Bruce Hearn

 et al.
Topic:
Finance
Industry:
Banking

This paper estimates the cost of equity in four major African markets: South Africa, Kenya, Egypt and Morocco. These collectively represent the largest and most developed equity markets in Africa and also act as hub markets in their respective regions.

Updated: 22/09/2011
Comments:
Views: 3,183

Barriers to the development of small stock markets: a case study of Swaziland and Mozambique

Author(s):

Bruce Hearn

 et al.
Topic:
Finance
Industry:
Banking

A case study of Swaziland and Mozambique illustrates that any potential gains to the domestic investment community are limited if the political economy does not allow the markets to develop sufficient liquidity.

Updated: 22/09/2011
Comments:
Views: 2,515

Barriers to the development of small stock markets: a case study of Swaziland and Mozambique

Author(s):

Bruce Hearn

 et al.
Topic:
Finance
Industry:
Banking

A case study of Swaziland and Mozambique illustrates that any potential gains to the domestic investment community are limited if the political economy does not allow the markets to develop sufficient liquidity.

Updated: 22/09/2011
Comments:
Views: 2,515

Pricing southern African shares in the presence of illiquidity: a capital asset pricing model augmented by size and liquidity premiums

Author(s):

Bruce Hearn

 et al.
Topic:
Finance

This paper augments the Fama and French (1993) three-factor model Capital Asset Pricing Model to take account of company size and liquidity levels.

Updated: 22/09/2011
Comments:
Views: 2,770

Pricing southern African shares in the presence of illiquidity: a capital asset pricing model augmented by size and liquidity premiums

Author(s):

Bruce Hearn

 et al.
Topic:
Finance

This paper augments the Fama and French (1993) three-factor model Capital Asset Pricing Model to take account of company size and liquidity levels.

Updated: 22/09/2011
Comments:
Views: 2,770

Overcoming financing constraints in an emerging Islamic market: evidence from the Sudan telecommunications company

Author(s):

Bruce Hearn

 et al.

This paper examines the approach taken by the Sudan Telecommunications Company, Sudatel, to obtain cost effective equity financing using secondary listings on multiple MENA (Middle East and North Africa) Stock Exchanges.

Updated: 22/09/2011
Comments:
Views: 2,846

Overcoming financing constraints in an emerging Islamic market: evidence from the Sudan telecommunications company

Author(s):

Bruce Hearn

 et al.

This paper examines the approach taken by the Sudan Telecommunications Company, Sudatel, to obtain cost effective equity financing using secondary listings on multiple MENA (Middle East and North Africa) Stock Exchanges.

Updated: 22/09/2011
Comments:
Views: 2,846

Market liquidity and stock size premia in emerging financial markets: the implications for foreign investment

Author(s):

Bruce Hearn

 et al.
Topic:
Finance
Industry:
Banking

This paper estimates the cost of equity in four major African markets: South Africa, Kenya, Egypt and Morocco. These collectively represent the largest and most developed equity markets in Africa and also act as hub markets in their respective regions.

Updated: 22/09/2011
Comments:
Views: 3,235