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Author: Senthil Kumar Muthusamy
Publisher:
ISBN:
Category :
Languages : en
Pages : 3
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Book Description
The objective of this manuscript is to present the arguments in favor of mini regional exchanges facilitating the trading of stocks for local and regional businesses. The mini stock exchange model proposed is not the replication of major national exchanges listing the same set of firms listed elsewhere; rather it is an attempt to extend the financial capital markets to local, small and regional firms in the respective geographic regions. The proposal is based on the following premises. First, mini regional exchanges will enable the availability of financial resources and capital to the multitude of small and medium scale businesses that would be at a disadvantage compared to large, national and global enterprises that are listed in major national stock exchanges. Second, the mini exchanges can mitigate, as typical stock exchange would do, the risk of investment in businesses by spreading and distributing the risk and ownership of the major portion of national industrial assets, and in turn contribute substantially to the growth of millions of young entrepreneurial ventures and the larger economy. Third, Mini stock exchanges decentralize the asset structure of national economies, and localize the control and rewards, and can enhance the distribution of economic gains to larger section of the economy. Fourth, by decentralizing and localizing the stock exchange, regional and locally located small and medium scale would be availed with opportunity to raise funds and grow without relying only on debt financing from banking sector. Fifth, mini regional stock exchanges would greatly reduce information asymmetry - a phenomena that substantially contribute to the risk factor for investors - and facilitate a large number and portion of investors to participate in mechanisms such as Board of directors. Sixth, more importantly, large national markets are receiving enormous flow of surplus capital to the extent of oversubscribing the stocks of popular and large firms, increasing their demand, widening the price-earnings ratio and in turn increasing the investment risk to individual investors and economic hazards to national economies.
Author: Senthil Kumar Muthusamy
Publisher:
ISBN:
Category :
Languages : en
Pages : 3
Get Book Here
Book Description
The objective of this manuscript is to present the arguments in favor of mini regional exchanges facilitating the trading of stocks for local and regional businesses. The mini stock exchange model proposed is not the replication of major national exchanges listing the same set of firms listed elsewhere; rather it is an attempt to extend the financial capital markets to local, small and regional firms in the respective geographic regions. The proposal is based on the following premises. First, mini regional exchanges will enable the availability of financial resources and capital to the multitude of small and medium scale businesses that would be at a disadvantage compared to large, national and global enterprises that are listed in major national stock exchanges. Second, the mini exchanges can mitigate, as typical stock exchange would do, the risk of investment in businesses by spreading and distributing the risk and ownership of the major portion of national industrial assets, and in turn contribute substantially to the growth of millions of young entrepreneurial ventures and the larger economy. Third, Mini stock exchanges decentralize the asset structure of national economies, and localize the control and rewards, and can enhance the distribution of economic gains to larger section of the economy. Fourth, by decentralizing and localizing the stock exchange, regional and locally located small and medium scale would be availed with opportunity to raise funds and grow without relying only on debt financing from banking sector. Fifth, mini regional stock exchanges would greatly reduce information asymmetry - a phenomena that substantially contribute to the risk factor for investors - and facilitate a large number and portion of investors to participate in mechanisms such as Board of directors. Sixth, more importantly, large national markets are receiving enormous flow of surplus capital to the extent of oversubscribing the stocks of popular and large firms, increasing their demand, widening the price-earnings ratio and in turn increasing the investment risk to individual investors and economic hazards to national economies.
Author: Heloisa Marone
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 36
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Book Description
In trend with a global pattern and following recommendations of the World Bank and the International Finance Corporation (IFC), the number of stock markets in African countries has increased dramatically over the last ten years. Despite a scarcity of studies on the impact of stock markets on these economies, some policymakers have been arguing in favor of stock exchanges (national or regional) in eastern and southern Africa. The creation of such exchanges may be a premature project as they might lack an actual economic rationale. The present case study, for instance, suggests that the Lusaka Stock Exchange (LuSE) has little effect on the larger Zambian economy.
Author: Heloisa Cortella Marone
Publisher:
ISBN:
Category :
Languages : en
Pages : 29
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Book Description
In trend with a global pattern and following recommendations of the World Bank and the International Finance Corporation (IFC), the number of stock markets in African countries has increased dramatically over the last ten years. Despite a scarcity of studies on the impact of stock markets on these economies, some policymakers have been arguing in favor of stock exchanges (national or regional) in eastern and southern Africa. The creation of such exchanges may be a premature project as they might lack an actual economic rationale. The present case study, for instance, suggests that the Lusaka Stock Exchange (LuSE) has little effect on the larger Zambian economy.
Author: Brandon Charles Becker
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 162
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Book Description
Author: Lino Briguglio
Publisher: Routledge
ISBN: 1351181831
Category : Political Science
Languages : en
Pages : 628
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Book Description
This handbook covers a wide spectrum of issues relating to small states. Chapters in the volume have been grouped under the three main themes of economic, social and environmental issues. The economics sections include chapters dealing with trade, finance and regulatory frameworks, while the social theme covers health, migration, population ageing, as well as overall social wellbeing. The environmental theme examines matters such as measuring environmental performance, natural disasters, the ocean economy, and the validity of the Sustainable Development Goals. One major issue is the definition of small states. As this volume demonstrates, generally speaking, population is used to measure country size in the literature. However, it clearly emerges that there is no real consensus as to the population cut-off point that distinguishes small states from large ones. While the approaches taken by the authors vary, in all cases the chapters draw practical policy implications for small states. The book can therefore be considered as a wide-ranging depositary of information on small states with the aim of deriving policy prescriptions, and thus as an excellent resource for academics, students and policymakers.
Author: Kenneth Kaoma Mwenda
Publisher: Universal-Publishers
ISBN: 1581124015
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This book looks at contemporary issues facing financial markets in Eastern and Southern Africa. The book addresses strategies for capital market integration and development on a region-wide basis. An argument is made that the establishment of a regional stock exchange and the promotion of multiple listings and cross-border trade in securities would stimulate increased liquidity on national stock exchanges in Eastern and Southern Africa. Lessons of experience are drawn from other regions and a case is made against transplanting models of a regional stock exchange from one region to another. The book argues that African countries may, however, use lessons of experience from other regions as points of reference, while pursuing their own discourse of self-determination. Each case is unique and is thus surrounded by different variables. The book covers developments in regions such as the European Union, francophone West Africa and Eastern and Southern Africa. Indeed, an international and comparative perspective is provided.
Author: Joseph E. R. Carrier
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 21
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Book Description
Author: Henry Kyambalesa
Publisher: Routledge
ISBN: 1317146204
Category : Business & Economics
Languages : en
Pages : 223
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Book Description
The debates over what African economic integration and development actually entails continue across international economic organizations, national governments and NGOs. Despite the glare of media attention and the position this issue has on international political agendas, few comprehensive accounts exist that fully examine why this process will be inevitable in the 21st century and how integration of national economies can be attuned to attaining the socio-economic goals and aspirations of member-countries. This book addresses this problem. It combines theory with application, enumerating the imperatives and initiatives governments will be forced to confront; providing insights for educators and students in African development, for policy makers in African governments, and for inter-governmental organizations.
Author: United States. Congress House. Committee on Interstate and Foreign Commerce
Publisher:
ISBN:
Category : Associations, institutions, etc
Languages : en
Pages : 984
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Book Description
Author: Moses Wisdom Chisadza
Publisher: Anchor Academic Publishing (aap_verlag)
ISBN: 3954892219
Category : Social Science
Languages : en
Pages : 117
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Book Description
This book looks at contemporary issues facing financial markets in Southern Africa. It has been established that African stock markets are confronted with a multitude of problems which include inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (‘SADC’) stock markets, with the exception of South Africa, are small both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance.
