This paper investigates the relationship between leverage and the financial performance of listed firm in Kenya. We use annual data for the period 2002 – 2011. Using various panel procedures, our study finds reasonably strong evidence that leverage significantly, and negatively, affects the...

Globalization of financial markets has increased correlation among developed economy markets and made developing economy markets attractive for diversification purposes. Among the developing economy markets are African equity markets, which appear to be the most promising and yet the least...