AFRICAN FINANCE JOURNAL
 
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Volume 18, Part 2, 2016

Effects of Financing and Institutional Constraints on Capital Structure of Firms in Select African Countries - Steven Ombati and Kalu Ojah

The Nexus Between Foreign Direct Investment and Foreign Aid: An Analysis of Sub-Saharan African Countries - Kafayat Amusa, Nara Monkam and Nicola Viegi

Credit Referencing Bureaus and Bank Credit Risk: Evidence from Ghana -Baah Aye Kusi, Elikplimi Komla Agbloyor, Vera Ogeh Fiador and Kofi Achampong Osei

The Linkages Between Financial Deepening, Trade Openness, and Economic Growth in the West African Economic and Monetary Union (WAEMU) - Bernard Njindan Iyke, Theodore O. Antwi-Asare, Augustine F. Gockel and Emmanuel Nii Abbey

 

Volume 18, Part 1, 2016

Insider Trading Law and Illegal Insider Trading in South Africa's Equity Market: Lessons From Corporate Takeovers - Justin Mitchell and Odongo Kodongo

A Panel Ordered Response Model for Sovereign Credit Ratings in Africa - Marinda Pretorius and Ilse Botha

Mobile Phone Penetration, Mobile Banking and Inclusive Development in Africa - Simplice Asongu and Jacinta Nwachukwu

Economic Integration and Exchange Rate Dynamics in the West African Monetary Zone - George Tweneboah, Daniel Agyapong and Siaw Frimpong

 

Volume 17, Part 2, 2015

Do Banks In Sub-Saharan Africa With Market Power Benefits From Monetary Policy? - Mohammed Amidu

Does Investor Sentiment Explain The Seasonality Of Overreaction? Examples Of The Nigerian And South African Equity Markets - Rafiq Raji and Kalu Ojah

Correlation Surprise: The African And South African Case - Joanne Armstrong and David Bradfield

Short And Long-Term Dynamics Of Herd Behaviour At The Johannesburg Stock Exchange - Olivier Niyitegeka and Devi Datt Tewari

 

Volume 17, Part 1, 2015

Capital Structure, Profitability And Firm Value: Panel Evidence Of Listed Firms In Kenya, Odongo Kodongo - Thabang Mokoaleli-Mokoteli and Leonard N. Maina

Implications Of The Eurozone Crisis For Monetary Unions in Sub-Saharan Africa - Andy Mullineux

Analysing Sub-Saharan Africa Trade Patterns In The Presence Of Regional Trade Agreements –The Case Of COMESA, SADC, ECCAS And ECOWAS - Alexander Bilson Darku and Adriana Boakyewaa Appau

Interest Rate Pass-Through, Financial Structure And Monetary Policy In South Africa - Meshach Jesse Aziakpono and Magdalene Kasyoka Wilson

 

Volume 16, Part 2, 2014

An Assessment Of The Sustainability Of Kenya’s Current Account Deficit - Sheila Kaminchia and Samuel K. Tiriongo

A Greek Wedding In SADC? Testing For Structural Symmetry Towards
SADC Monetary Integration - Mulatu F. Zerihun, Marthinus C. Breitenbach and Francis Kemegue

How Would Monetary Policy Matter In The Proposed African Monetary Unions? Evidence From Output And Prices - Simplice Asongu

A Portrait Of Informal Sector Credit And Interest Rates In Malawi: Interpolated Monthly Time Series - Harold Ngalawa

 

Volume 16, Part 1, 2014

The Consistency Of Equity Style Anomalies On The JSE During A Period Of Market Crisis - Ryan Kruger and Francois Toerien

Evidence Of Segmentation Among African Equity Markets - Zivanemoyo Chinzara and Tinashe Kambadza

The Fractal Nature Of The Johannesburg Stock Exchange - Artwell Chimanga and Chipo Mlambo

Infrastructure And The Location Of Foreign Direct Investment: A Case Study Of African Manufacturing Firms - Busani Moyo

 

Volume 15, Part 2, 2013

Is African Interest-Rate Volatility Susceptible To International Spillovers? - Scott W. Hegerty

Monetary Policy And Speculative Bubbles: Evidence From South Africa - Oswald K. Mungule and Christopher Malikane

Investment And Inequality In Africa: Which Financial Channels Are Good For The Poor - Simplice A. Asongu

Assessing The Finance - Growth Channel In Kenya: A VAR Analysis - Joseph Muchai

 

Volume 15, Part 1, 2013

Assessing the Stock Market Wealth Effect in South Africa - Lumengo Bonga-Bonga

Fiscal Incentives for FDI and Infrastructure Development: Economic Diversification Options for SADC Countries - Olalekan Yinusa

Monetary Policy, Foreign Exchange Intervention and Exchange Rate Volatility in Zambia - Jonathan Chipili

Common Volatility Trends Across East African Foreign Exchange Markets - Pako Thupayagale and Thato Mokoti

Stock Market Volatility and Non-Performing Loans: Evidence from Stocks of the Nigerian - Sayo Oludare, Michael Olagunju and Olusegun Adelodun

 

Volume 14, Part 2, 2012

Current Account Sustainability of ECOWAS Countries - Yaya Sissoko and Niloufer Sohrabji

Government Deposits at the Central Bank and Monetary Policy Operations in a Monetary Targeting Framework: A Threshold Autoregressive Model for Kenya - Moses Muse Sichei, Daniel Amanja and Samuel Kiplang

A Wavelet Perspective on the Real Interest Parity Condition - Quinton Morris and Andrea Saayman

Nonlinear Serial Dependence in Share Returns on the Johannesburg Stock Exchange - Ryan Kruger, Fancois Toerien and Iain MacDonald

Modelling Exchange Rate Volatility in Zambia - Jonathan Chipili

 

Volume 14, Part 1, 2012

Valuation of a Hydro-Electric Power Project in Emerging Markets: An Application of Real Options - Richard Ebil Ottoo

The Balance of Payments Constraint Growth Model and the Effect of Trade Liberalization on the Trade Balance and Income Growth in Ghana - Alexander Bilson Darku

Does FDI Contribute to the Integration into the Global Economy? Time-Series Evidence for Ten African Countries - Yaya Keho

An Empirical Study of Taiwan's 1978-2006 Financial Development, Export, Saving and Economic Growth - Vey Wang, Hai-Chun Yun and Lung-Sheng Lee

McKinnon-Shaw Complimentarity Hypothesis: Evidence from Lesotho - Sephooko Motelle and Rethabile Masenyetse

 

Volume 13, Part 2, 2011

Is the Enterprise Creation Importance of Venture Capital in an Emerging Market Real? Answers from Johannesburg Securities Exchange's IPOS - Kalu Ojah

Monetary Policy Action and Inflation in South Africa: An Empirical Analysis - Lumengo Bonga-Bonga and Alain Kabundi

The Effect of External Finance on Africa's Variety of Manufactured Exports to the European Union - Jonathan Munemo

Determinants of Participation in Occupational Pension Funds by Private Sector Workers in South Africa - Sheshangai Kaniki and Miracle Ntuli

 

Volume 13, Part 1, 2011

Southern African Economic Integration: Evidence from an Augmented Gravity Model - Moshi Optat Herman, Kirsten Wandschneider, Thierry Warin and Phanindra Wunnava

Predictability of Stock Price Behaviour in South Africa: A Non-Parametric Approach - John Muteba Mwamba

The Impact of Rand/US Dollar Exchange Rate Volatility on the Performance of Futures Markets for Agricultural Commodities - Motlatjo Moholwa and Guangling (Dave) Liu

Determinants of Excess Liquidity in Tanzanian Commercial Banks - Jehovaness Aikaeli

 

Conference Issue, 2011

The Use of the Merton Model to Quantify the Default Probabilities of the Top 42 Non-Financial South African Firms - Glen Holman, Ryan Van Breda and Carlos Correia

The Impact of Inflation Targeting on Inflation Volatility in South Africa - Irrshad Kaseeram and Eleftherios Contogiannis

Are World Commodity Prices Relevant in Predicting Inflation in Botswana - Kagiso Mangadi, Francis Okurut and Dauda Yinusa

The Impact of Black Economic Empowerment Transactions on Shareholder Wealth and Firm Profitability: Evidence from the JSE - Chimwemwe Chipeta and Thando Vokwana

Effectiveness of Monetary Policy Communication in Kenya - Isaya Maana and Samuel Tiriongo

Exchange -Rate Pass Through to Import Prices: Evidence from Ghana - John Dramani and Francis Tandoh

 

Volume 12, Part 2, 2010

Voluntary Disclosure of Socio-Economic Issues by JSE Listed Companies: The HIV/AIDS Example - Thabang Mokoaleli-Mokoteli and Kalu Ojah

Loan Portfolio Conditional Loss Estimation Using an Error-Correcting Macroeconometric Model - Albert H. de Wet, Reneé van Eyden and Rangan Gupta

Direct Versus Indirect Forecasting of the Defined Real Exchange Rate of South Africa - Marinda Pretorius and Ilsé Botha

Stock Markets, Banks and Economic Growth: Time Series Evidence from South Africa - Umar Bida Ndako

 

Volume 12, Part 1, 2010

Possible Effective Financing Models for Entrepreneurship in South Africa: Guides from Microfinance and Venture Capital Finance - Kalu Ojah and Thabang Mokoaleli-Mokoteli

Does Foreign Direct Investment Crowd-Out Domestic Private Investment in Sub-Saharan Africa? - John Mutenyo, Emmanuel Asmah and Aquilars Kalio

Spatial Externality, Openness and Financial Development in Sub-Saharan Africa (SSA) Countries - Hakeem Mobolaji

A Causality Analysis Between Financial Development and Economic Growth for Botswana - Joel Hinaunye Eita and André C. Jordaan

 

Special Issue, 2010

Testing the Weak-Form Market Efficiency And The Day of the Week Effects Of Some African Countries - Michael Batuo Enowbi, Francesco Guidi and Kupukile Mlambo

An Analysis Of Mutual Fund Performance On The Stock Exchange Of Mauritius - Sunil K. Bundoo, Boopen Seetanah and Zaineh Pooloo

Causes Of Inflation In Namibia: An Empirical Exploration - Joel Hinaunye Eita and John Ernest Odada

Cointegration Analysis Of Behavioral Issues In The Auctioning Of Treasury Bills In Tanzania - Ellinami Minja

Do Frontier Market Equities Have A Role Play In A Diversified
International Equity - Chandan Prayag, David du Toit, Kristin Kenmuir, Alastair Morrison and Chimwala Tembo

Forward-Looking Monetary Policy Reaction Functions for South Africa - Irrshad Kaseeram

 

Volume 11, Part 2, 2009

An Empirical Investigation of the Weak-Form of the Efficient Market
Hypothesis for the Nigerian Stock Exchange - Bashir Tijjani

Banking Efficiency and Financial Development in Sub-Saharan Africa (SSA) - Sandrine Kablan

Stock Market Integration: A South African Perspective - Alain Kabundi and Idriss Mouchili

An Assessment of the Degree Of South Africa’s Financial Integration into the World Economy - Lumengo Bonga-Bonga

A Multivariate Analysis of Factors Affecting Stock Returns on the JSE - Artwell Chimanga and Danelle Kotze

 

Volume 11, Part 1, 2009

Corporate Capital Structure Determinants: Evidence from five African Countries -Tendai Gwatidzo and Kalu Ojah

Financial Policy and Corporate Performance: Evidence from Emerging Market Economies - Godfred Bokpin and Joshua Abor

Are African Stock Markets Integrated with the Rest of the World?
- Paul Alagidede

Foreign Direct Investment and Economic Growth: Co-Integration and Causality Analysis of Nigeria - Henry Okodua

 

Special Issue, 2009

Capital Inflows and Profit Remittances: A Causality Analysis for the South African Economy - Smile Dube

Real Exchange Rate Volatility and International Trade: Evidence from Kenya - Christopher Kiptoo

An Augmented Capital Asset Pricing Model: Liquidity and Stock Size in African Emerging Financial Markets - Bruce Hearn & Jenifer Piesse

Financial Sector Development and Economic Growth for African Countries - Mbutu Mwaura, Rose Ngugi and Giithinji Njenga

Integration of the South African Equity Market Into the World Major Stock Markets: Implication for Portfolio Diversification - Zivanemoyo Chinzara and Mesach Aziakpono

Microstructure Characteristics of the Bonds Market in Kenya - Rose Ngugi and Justus Agoti

Determinants and Stability of Money Demand in Uganda During the Period of Economic Liberalization - Asumani Guloba and Nehemiah Osoro

The Finance-Growth Nexus in Namibia - Joel Eita

 

Volume 10, Part 2, 2008

Market Reaction and Equity Market Efficiency: A Survey of the Insider Trading Law in South Africa - Kalu Ojah, Stella Muhanji and Andrew Myburg

Agency and Bank Liberalization: The Case of Ethiopia - Minga Negash

South African "Rand"/U.S. "Dollar" Exchange Rate Variability, Parity Theories, and Ivestment Rules - Stephen S. Kyereme

Modelling the Rand-Dollar Future Spot Rates: The Kalman Filter Approach - Lumengo Bonga-Bonga

 

Volume 10, Part 1, 2008

Stock Prices and the Exchange Rate in a Monetary Model: A ARDL Bounds Testing Approach using South African Data - Smile Dube

Financial Development And Economic Growth In Ghana: Is There A Causal Link? - Peter Quartey and Frank Prah

Modelling Return Volatility On The Jse Securities Exchange Of South Africa - Ronald Mangani

Official Flows, Export Revenue, Volatility And Domestic Investment In Cameroon - Sunday Aninpah Khan

 

Volume 9, Part 2, 2007

Corporate Social Responsibility, Myth, Reality or Empty Rheoric: Perspectives from the Ghana Stock Exchange - Daniel F. Ofori

The Determination of Savings in South Africa: An Emperical Investigation - Nicholas M. Odhiambo

An Emperical Re-Examination of the Weak Form Efficient Markets Hypothesis of The Ghana Stock Market Using Variance-Ratios Tests - Collins Gyakari Ntim, Kwaku K. Opong and Jo Danbolt

Financial Deepening in South Africa: Toward an architecture that stimulates growth - Ashley G. Frank

Volume 9, Part 1, 2007

Adjustment of commercial bank’s interest rates and the effectiveness of monetary policy in south africa - M. Aziakpono, M. K Wilson, and J. Manuel

On measuring indebtedness of african countries - Guy B. Nkamleu and Roger Tsafack

Return Dynamics in North African Stock Markets - Paul Alagidede

Does interest rate liberalisation really improve the allocative efficiency of investment? Kenya’s experience - Nicholas M. Odhiambo

 

Volume 8, Part 2, 2006

The Validity Of PPP Theory In South Africa: A Cointegration Approach - Oludele. A. Akinboade & Daniel Makina

Interest Rate And Stock Market Returns In Africa- Charles K.D. Adjasi & Nicholas B. Biekpe

Integration And Volatility Spillovers In African Equity Markets:
Evidence From Namibia And South Africa - Michael N. Humavindu & Christos Floros

An Examination Of The Time Variation In Systematic Risk On
The Stock Exchange Of Mauritius - Sunil K. Bundoo

The Stability Of South African Stock Returns - Allan.E. Clark and C.G. Troskie

 

Volume 8, Part 1, 2006

Prospects for International Portfolio Diversification: Linkages between the Ghanaian Equity Market and the World's Major Markets - Abdulsalam Alhassan

An Investigation of the Size and Value Premium on the Stock Exchange of Mauritius - Sunil K Bundoo

Macroeconomic factors and the Ghana stock market - Kofi A. Osei

Industrial research and development and tax incentive policies: A survey and lessons for Africa - Frank K Teng- Zeng

 

 

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