Public Corporations in Africa - A Continental Survey on Stock Exchanges and Capital Markets Performance

Dirk Schiereck (), Andreas Freytag (), Maximilian Grimm and Wolfgang H. Bretschneider
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Dirk Schiereck: Chair of Corporate Finance, Darmstadt University of Technology
Maximilian Grimm: Chair of Corporate Finance, Technische Universitaet Darmstadt
Wolfgang H. Bretschneider: Chair for Economic Policy, Friedrich-Schiller Universität Jena

No 2018-013, Jena Economics Research Papers from Friedrich-Schiller-University Jena

Abstract: While mature capital markets in Western economies suffer from a significant drop in listed companies for two decades, the number of listings at stock exchanges on the African continent is increasing and the importance of stock exchanges for equity issues is growing. This not only raises questions about the future of stock exchanges as platforms to raise equity in different countries (Doidge et al., 2017; Kahle and Stulz, 2017). It also sheds light on the growing importance of African markets for Western actors. The capital markets in Africa, however, are dominated by a very few large stock exchanges while most of the markets are small and underdeveloped based on international standards. The paper serves the purpose of identifying the potential of African stock markets.

Keywords: African capital markets; stock exchange; performance; listings (search for similar items in EconPapers)
JEL-codes: G10 G23 (search for similar items in EconPapers)
Date: 2018-09-10
New Economics Papers: this item is included in nep-afr
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Citations: View citations in EconPapers (3)

Published as "Public Corporations in Africa - A Continental Survey on Stock Exchanges and Capital Markets Performance", in: International Journal of Business Management and Economic Review 1/5 (2018), 259-297.

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Working Paper: Public Corporations in Africa – A Continental Survey on Stock Exchanges and Capital Market Performance (2018)
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