EconPapers    
Economics at your fingertips  
 

The Influence of Small and Medium Enterprises (SMEs) Listing on the Ghana Alternative Market (GAX): Prevailing Factors

Barbara Johnson and Richard Kotey

EconStor Open Access Articles and Book Chapters, 2018, vol. 4, issue 4, 142-156

Abstract: Ghana Alternative Market was set up for SMEs and startups, who usually did not meet the requirements of the main stock exchange, to be listed and have access to equity financing. However, it has not been successful at getting SMEs listed, recording only 4 listings since its inception. This motivated the study to access factors that affect SMEs listing on the Ghana Alternative Market. Using a quantitative approach, we sampled 50 SMEs, 21 Brokers and 3 SMEs already listed on the GAX. We found that over half of the SMEs had some information about the GAX. However, their knowledge with regards to the benefits of listing on the GAX as well as what they require to list is very limited. Also, the findings revealed that SMEs had a difficulty accessing stock market operators as well as stock market information. LDMs showed commitment to the development of the GAX, however their efforts at getting SMEs on board has been passive. SMEs sampled also showed that they are willing to swap from alternative funding sources to the GAX when their concerns are addressed. They also stated that the relevant stakeholders should provide more information and education about the GAX in order to make it a viable option for them.

Keywords: Alternative Stock Market; Ghana Alternative Market (GAX); Determinants (search for similar items in EconPapers)
JEL-codes: D53 E44 G15 (search for similar items in EconPapers)
Date: 2018
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econstor.eu/bitstream/10419/215860/1/T ... STING%20ON%20THE.pdf (application/pdf)

Related works:
Journal Article: The Influence of Small and Medium Enterprises (SMEs) Listing on the Ghana Alternative Market (GAX): Prevailing Factors (2018) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:zbw:espost:215860

Access Statistics for this article

More articles in EconStor Open Access Articles and Book Chapters from ZBW - Leibniz Information Centre for Economics Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().

 
Page updated 2025-03-20
Handle: RePEc:zbw:espost:215860