This study aims to investigate how firm, industry, macroeconomic and institutional factors influence a firm's debt maturity structure decisions across nine African countries. We consider a sample of 986 non-financial firms over a period of 10 years (1999-2008). We specify panel data models that...

The aim of this study is to empirically investigate the role of firm- industry-, institutional-, and macroeconomic-factors on a firm's capital structure decision in the context of nine African countries. To this end, we consider a sample of 986 non-financial firms over a period of 10 years...

This paper aims to examine the adjustment speed of debt maturity structure within the context of Africa countries. Dynamic adjustment models using system GMM proposed by Blundell and Bond (1998) were used to analyze data pertaining to 986 non-financial firms drawn from nine African countries. We...

This study examines antecedents of capital structure of firms in Johannesburg Securities Exchange (JSE). The difficulties in measuring attributes of interest are addressed in two fronts: conceptual and methodological. A broader conceptual framework is developed by introducing several new proxies...

The aim of this paper is to examine the role of institutional-, macroeconomic-, industry-, and firm-characteristics on the adjustment speed of corporate capital structure in the context of nine (9) African countries. We consider a sample of 986 firms over a period of 10 years (1999–2008)....

This paper deals with the corporate governance thematic area of the African Peer Review Mechanism (APRM). Its contribution to the literature is twofold: (1) It provides additional evidence that a microeconomic perspective of studying governance leads to a better understanding of key reform...

This paper contains a critical review of the uncertainty research, and reports on the relationship between corporate disclosure and the adverse selection component of the (bid-ask) buy-sell spread of stock prices. Order processing and holding costs will be decoupled from information component...

Using 118 firms' panel data across a time period of 17 years and a battery of tests, this paper examines two research questions that pertain to the expected gains stemming from corporate information liberalization through the adoption of international accounting (financial reporting) standards....