The African Finance Journal

2003 - 2022

From Africagrowth Institute
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Volume 24, issue 2, 2022

Regional Convergence among Anglophone West African Countries: Evidence from Interest Rate Analysis pp. 1-16

Amos Twum and Meshach J. Aziakpono

Risk-taking Behavior, Regulatory Policy and Banking crisis: Evidence from the African Economies pp. 17-37

Daniel Ofori-Sasu, Emmanuel Sarpong-Kumankoma, Elikplimi K. Agbloyor and Joshua Y. Abor

The Impact of Financial Inclusion on the Livelihoods of Rural Smallholder Farmers in Nigeria pp. 38-50

Olayinka Adegbite and Charles L. Machethe

Out-of-sample Predictability of the South African Equity Risk Premium Distribution: A Quantile Regression Approach pp. 51-65

Munyaradzi Chawana, Ilse Botha and Yolanda Stander

Volume 24, issue 1, 2022

Do Bank Characteristics Affect Bank Lending Behaviour? pp. 1-15

Offiong Helen Solomon, Andy Mullineux and Phillip De Jager

A Note on the Profitability of African Banks: Islamic Versus Conventional pp. 16-23

Whelsy Boungou

Quality as an Investment Style: Evidence from South Africa pp. 24-36

James Britten, Daniel Page and David McClelland

Female Corporate Board Executives and Bank Profitability: Exploring for Complementarities and Synergies pp. 37-49

Peter K. Luh, Baah A. Kusi, Agyapomaa Gyeke-Dako and Vera O. Fiador

The Impact of Accounting Accruals Before, During, and After an Economic Crisis: Evidence from South Africa pp. 50-64

John H. Hall, Elda du Toit and Rudra P. Pradhan

Volume 23, issue 2, 2021

Selecting the Ideal Risk-Free Rate Proxy for the South African Market pp. 1-21

Chris van Heerden

Access to Finance and Efficiency of Firms in Ghana pp. 22-35

Ferdinand Ahiakpor, Issac Dasmani, Samuel Kobina Annim and Ralph Essem Nordjo

Exchange Rate Risk and International Equity Portfolio Diversification: A South African Investor’s Perspective pp. 36-49

Charles Raoul Tchuinkam Djemo, John Weirstrass Muteba Mwamba and Mathias Manguzvane

A Comparison of the Stylised Facts of Bitcoin, Ethereum and the JSE Stock Returns pp. 50-64

Forbes Kaseke, Shaun Ramroop and Henry Mhwambi

Volume 23, issue 1, 2021

Chairman’s Letter, Impression Management and Governance Mechanisms: The Case of South African Listed Firms pp. 1-19

Jacques Totowa and Thabang Mokoaleli-Mokoteli

African Banking Sector Development: The Roles of Remittances and Monetary Policy pp. 20-40

Joshua Y. Abor, Mohammed Amidu, Emmanuel Sarpong-Kumankoma and Haruna Issahaku

The Impact of Fiscal Policy Variables on Private Investment in Nigeria pp. 41-55

Yusuf Abdulkarim and Mohamed Saidatulakmal

A Hybrid Neural Network GARCH Approach to Forecasting Zimbabwean Inflation Volatility pp. 56-73

Nigel E.N. Chitambo, Darren Lee and Sure Mataramvura

Volume 22, issue 2, 2020

Agricultural Finance Constraints in the Nigerian Agricultural Sector pp. 1-21

Margaret Adesugba and George Mavrotas

Structure and Market Power in the South African Banking Sector pp. 22-39

Nomasomi Ngonyama and Munacinga Simatele

Zimbabwean Commercial Banks Performance under Multiple-Currency System: A Dynamic Panel Data Analysis pp. 40-51

Caroline Makumbe, Regret Sunge and James Zivanomoyo

Volume 22, issue 1, 2020

Value-at-Risk in Frontier Markets: Adapted Models and Evidences from Two North-African Stock Exchanges pp. 1-20

Mhamed-Ali El-Aroui and Wafa Snoussi

The Impact of the Adoption of International Financial Reporting Standards on Foreign Direct Investment in Africa pp. 21-49

Matthew Olubayo Omotoso, Daniel Petrus Schutte and Heinz Eckart Klingelhöfer

Macro-Structural Obstacles to Firm Performance: Evidence from 2,640 Firms in Nigeria pp. 50-69

Amr Hosny

Volume 21, issue 2, 2019

The Effect of Aid on Growth in the Presence of Economic Regime Change pp. 1-23

Solomon Samanhyia and Danny Cassimon

A Comparative Analysis of Aggregational Gaussianity Across Different Market Capitalisations for JSE-listed Shares and Indices pp. 24-35

Ryan Kruger, Chun-Sung Huang, Kanshukan Rajaratnam and Chun-Kai Huang

Left Behind, but Included: The Case of Migrant Remittances and Financial Inclusion in Ghana pp. 36-63

Mohammed Amidu, Joshua Abor and Haruna Issahaku

Volume 21, issue 1, 2019

Revisiting Financial Development and Income Inequality Nexus for Africa pp. 1-22

Mustapha Jobarteh and Huseyin Kaya

Do Banking Institutions Respond to Incentives? Banking Awards and Stability Evidence from an Emerging Economy pp. 23-49

Lord Mensah, Charles Andoh, Saint Kuttu and Baah Kusi

Do Exchange Rate Changes have Symmetric or Asymmetric Effects on Money Demand in Nigeria? pp. 50-66

Olalekan Bashir Aworinde and Ishola Rufus Akintoye

Demographic Shift and Bank Stability in SADC Countries pp. 67-85

Kolade Sunday Adesina and Beatrice Desiree Simo-Kengne

Fiscal Policy Sustainability in SADC Countries pp. 86-97

Ntokozo Nzimande and Harold Ngalawa

Volume 20, issue 2, 2018

Intraday Information Transmission in the South African Equities Market pp. 1-20

Kerry McCullough

Capital Flight in Africa: An Analysis of Macroeconomic and Institutional Quality Determinants pp. 21-44

Umakrishnan Kollamparambil and Diana Gumbo

ICT, Financial Access and Gender Inclusion in the Formal Economic Sector: Evidence from Africa pp. 45-65

Simplice Asongu and Nicholas Odhiambo

Interest Rate (Caps) and Sustainability of Microfinance Institutions in Zambia pp. 66-90

Christopher Ngolwe Kambole and Abdul Latif Alhassan

Volume 20, issue 1, 2018

Assessment of Competition in the Zimbabwean Banking Sector since Dollarization pp. 1-23

Kupukile Mlambo and Nebson Mupunga

Rethinking the Interaction Between Banks and Markets in the Nigerian Financial Architecture pp. 24-38

Augustine C. Arize, Ebere Ume Kalu and Nelson N. Nkwor

Modelling Aggregate Risk of the South African Banking Industry: An Application to Pillar II Economic Capital pp. 39-65

Dingaan Jack Khoza and John Weirstrass Muteba Mwamba

Financial Sector Reforms and Human Development in Cameroon pp. 66-88

Neba Cletus Yah and Beatrice Desiree Simo-Kengne

Volume 19, issue 2, 2017

Comparative Analysis of Interest Rate Effects on Bank Performance in Emerging Market Versus African Economies pp. 1-28

Euphemia Godspower-Akpomiemie and Kalu Ojah

Bank Profitability Determination in Income Brackets in Africa: A Shareholder versus Stakeholder Perspective pp. 29-46

Baah Kusi, Agyapomaa Gyeke-Dako and Elikplimi Agbloyor

Doves, Hawks or Pigeons? Characterising Monetary Policy Regime Switches in Ghana pp. 47-57

William Godfred Cantah and Ferdinand Ahiakpor

Volume 19, issue 1, 2017

Financial Inclusion and Poverty Reduction in Sub-Saharan Africa pp. 1-22

Jabir Ibrahim Mohammed, Lord Mensah and Agyapomaa Gyeke-Dako

Herding Behaviour in Financial Markets: Empirical Evidence from the Johannesburg Stock Exchange pp. 23-44

Kofi A. Ababio and John Weirstrass Muteba Mwamba

Does Bank Sector Competition Improve amid Liberalization? Evidence from Ghana pp. 45-69

Frank Prah

The Link between Internal Financial Performance and External Financial Performance: Empirical Evidence from South African Firms pp. 70-98

Elda du Toit, John H. Hall and Rudra P. Pradhan

Volume 18, issue 2, 2016

Effects of Financing and Institutional Constraints on Capital Structure of Firms in Select African Countries pp. 1-44

Steven Ombati and Kalu Ojah

The Nexus Between Foreign Direct Investment and Foreign Aid: An Analysis of Sub-Saharan African Countries pp. 45-68

Kafayat Amusa, Nara Monkam and Nicola Viegi

Credit Referencing Bureaus and Bank Credit Risk: Evidence from Ghana pp. 69-92

Baah Kusi, Elikplimi Agbloyor, Vera Ogeh Fiador and Kofi Achampong Osei

The Linkages Between Financial Deepening, Trade Openness, and Economic Growth in the West African Economic and Monetary Union (WAEMU) pp. 93-116

Bernard Njindan Iyke, Theodore O. Antwi-Asare, Augustine F. Gockel and Emmanuel Abbey

Volume 18, issue 1, 2016

Insider Trading Law and Illegal Insider Trading in South Africa's Equity Market: Lessons from Corporate Takeovers pp. 1-19

Justin Mitchell and Odongo Kodongo

A Panel Ordered Response Model for Sovereign Credit Ratings in Africa pp. 20-33

Marinda Pretorius and Ilse Botha

Mobile Phone Penetration, Mobile Banking and Inclusive Development in Africa pp. 34-52

Simplice Asongu and Jacinta Nwachukwu

Economic Integration and Exchange Rate Dynamics in the West African Monetary Zone pp. 53-76

George Tweneboah, Daniel Agyapong and Siaw Frimpong