Accounting and Finance Dissertation

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Browsing Accounting and Finance Dissertation by Subject "African Stock exchanges"

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    Can Ethiopian Companies Meet the Listing Requirements of African Stock Exchanges?
    (Addis Ababa University, 2011-06) Bayisasahu, Abera
    Ethiopian companies are not benefiting from listing on stock exchanges because there is no stock exchange in Ethiopia. Foreign listing is an alternative solution to this problem. Thus, this study examines whether or not Ethiopian companies meet the listing requirements of African stock exchanges. The study also assessed the characteristics of Ethiopian companies (their strengths and weaknesses) in relation to stock exchanges listing requirements so as to determine the availability of qualified companies for the establishment of a stock exchange in Ethiopia. The determinants of listing requirements and listings are also investigated in this study. The study adopts a mixed methods research approach. Specifically, the study uses surveys of 17 Ethiopian share companies that are established after 1994 by offering shares to the public via IPO and that has a minimum of two years operating history using closed ended self administered questionnaires to collect a quantitative data. In addition, the study uses surveys of 15 African stock exchanges that have listing requirements on their websites in English languages. The study also analyzed the qualitative listing requirements of African countries stock exchanges (OECD 2004 Corporate Governance Principles) by comparing it with the Ethiopian companies’ corporate governance law. The results of this combined research methodology reveal that Ethiopian companies can be listed in other African countries’ stock exchanges and get benefited from listing. There are also qualified companies for the establishment of stock exchange in Ethiopia