AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET

Year 2016, Volume: 8 Issue: 1, 112 - 130, 01.06.2016

Zvendi Chitekuteku Maxwell Sandada

Abstract

The study was motivated by the lack of research on this phenomenon in
Zimbabwe, as it sought to investigate the factors that may influence SMEs to
register on the ASM. To achieve this objective, the study adopted a quantitative
approach. Data was collected from a sample size of three hundred and thirty (330)
which were selected through stratified random sampling. Factor analysis was used
to identify the factors which determine the listing of SMEs on the ASM. The four
factors which emerged were factor 1 (information accessibility), factor 2
(regulatory requirements), factor 3 (corporate governance), and factor 4 (SMEs
support platforms).The findings indicated that information accessibility,
regulatory requirements, corporate governance, and SMEs support platforms are
important in determining SMEs listing on the ASM. The research article presents
both the academic contribution and managerial implications of the findings and
opportunities for future research are provided.

Keywords

SMEs, Alternative Securities Market, Harare, Zimbabwe

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