We investigate the level of underpricing and the long-term stock market performance of financial exchange initial public offerings (IPOs) and find that, despite being more underpriced, the financial exchange IPOs significantly outperform the market indexes and a control sample of regular IPOs....

The study investigated the market structure of Ghana¡¯s banking industry and determined whether the market structure has been changed after the financial restructuring. This study specifically measures the degree of competition of the banking system in Ghana by using the H-statistics. Various...

This paper examines the effect of social capital on the firm’s effective management of the cash conversion cycle management. In this paper, I argue that the prevailing social norms and networks of a region reduce the number of days it takes firms to receive cash after purchases. Using a sample...