The paper provides empirical analyses of IPO underpricing on the Nigerian Stock Exchange, from the period 1990 to 2006. The results indicate an average abnormal initial day returns of 43.1%. There is evidence of long-run underperformance of 0.6%. Results from our regression model explaining...

Purpose – This paper aims to evaluate the effect of risk on the financial policy of emerging market firms. Design/methodology/approach – Using data from 34 emerging markets during a 17-year period, 1990-2006, a panel data model is employed for the analysis. Findings – The results of this...

Purpose – This paper aims to examine how selected governance indicators impact on performance measures of outreach and profitability in microfinance institutions (MFIs). Design/methodology/approach – The paper adopts a quantitative approach based on both primary and secondary data from...

Purpose – This paper aims to evaluate the effect of risk on the financial policy of emerging market firms. Design/methodology/approach – Using data from 34 emerging markets during a 17‐year period, 1990‐2006, a panel data model is employed for the analysis. Findings – The results of...

Purpose – The purpose of this research is to examine the foreign exchange exposure of listed companies on the Ghana Stock Exchange over the period January 1999 to December 2004. The research uses different exchange rate measures namely; the cedi to US dollar, the cedi to UK pound sterling, the...

Purpose – The purpose of this paper is to examine the extent to which corporate managers alter their capital structure in response to risk exposures on the Ghana Stock Exchange (GSE). Design/methodology/approach – A panel data covering the period from 2002 to 2007 was employed under the...

Purpose – The purpose of this paper is to identify the factors which influence the demand for micro‐insurance services among the informal sector workers of Ghana who are quite vulnerable to various risks in the economy. Design/methodology/approach – The study adopts a quantitative...

Purpose – The paper aims to investigate the relationship between stock prices and exchange rate movement in seven African countries. Design/methodology/approach – It uses vector autoregressive (VAR) cointegration and impulse response analysis to determine the long‐ and short‐run linkages...

Purpose – This paper's purpose is to examine the nature and correlates of poverty in Ghana. Design/methodology/approach – Using the most recently published household living standards survey; the paper computes poverty indicators using the Foster et al. , and Theil's inequality indicators to...