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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

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.

References

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

Abstract

References

  • Acca, (2013), Connecting Capital Markets: Nairobi Securities Exchange growth enterprise Market Segment.
  • Adjasi, C. K., Osei, K. A., and Fiawoyife, E. U. (2011), “Explaining underpricing of IPOs in frontier markets: Evidence from the Nigeria Stock Exchange”,
  • Research in International Business and Finance, Vol.25 No.3, pp. 255-265. Bansal, S. (2010). BSE and NSE SME Exchange Platform- Big Opportunity for
  • Small Companies and Growing India. Chen, J. (2006). “Development of Chinese small and medium-sized enterprises”,
  • Journal of Small Business and Enterprise Development. 13(2):140:147. Available: http://www.emeraldinsight.com/Insight/ViewContentServlet?Filename=Published /EmeraldFullTextArticle/Articles/2710130201.html [accessed 12th February
  • Exchange, Johannesburg Stock. (2013). Listed companies.
  • Global Competitiveness Report (2009), World Economic Forum, Geneva, Switzerland.
  • Huck, S.W. (2012). Reading Statistics and Research, 6th ed. Boston. Pearson Education.
  • Ladzani, W. (2001). Small business development in South Africa under the majority rule: 14th Annual Conference of Small Enterprise Association of
  • Australia and New Zealand. Available: http://www.tsa.ac.za/corp/research/papers/wladzani2001small.doc [accessed 13 March 2015]. th
  • Lall, S. (2001), “Competitiveness indices and developing countries: an economic evaluation of the global competitiveness report”. World development, Vol.29 No.9, pp. 1501-1525.
  • London Stock Exchange, (2010), Alternative Invest,ment Market ,A Guide to AIM.
  • Malhotra, N. K. (2007), Marketing research: an applied orientation.5th ed. New
  • Jersey. Pearson Prentice Hall. Mwarari, M. M., and Ngugi, P. K. (2013), “Factors influencing listing of Kenyan
  • SMEs in the securities market for capital raising opportunities”, European Journal of Management Sciences and Economics, Vol. 2, pp. 99-115. Nairobi Stock Exchange (2012). Stock Performance List. Nairobi: Nairobi Securities Exchange.
  • Nunnally, J.C. and Bernstein, I.H.(1994). Psychometric Theory. New York: McGraw-Hill.
  • Oteh, A (2010),Marking Capital Markets in Africa.2010 Kikonyongo Capital
  • Markets Awards. Kampala :Securities and Commission Exchange for Nigeria. Ruzivo Trust,(2012) Fact sheet on Policy Influencing Project for Micro ,Small and Medium Enterprises Sector.
  • Zimbabwe National Chamber of Commerce (2010), SMEs Secondary Securities Exchange.
There are 19 citations in total.

Details

Other ID JA69VY59RA
Journal Section Articles
Authors

Zvendi Chitekuteku This is me

Maxwell Sandada This is me

Publication Date June 1, 2016
Published in Issue Year 2016 Volume: 8 Issue: 1

Cite

APA Chitekuteku, Z., & Sandada, M. (2016). AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET. International Journal of Economics and Finance Studies, 8(1), 112-130.
AMA Chitekuteku Z, Sandada M. AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET. IJEFS. June 2016;8(1):112-130.
Chicago Chitekuteku, Zvendi, and Maxwell Sandada. “AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET”. International Journal of Economics and Finance Studies 8, no. 1 (June 2016): 112-30.
EndNote Chitekuteku Z, Sandada M (June 1, 2016) AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET. International Journal of Economics and Finance Studies 8 1 112–130.
IEEE Z. Chitekuteku and M. Sandada, “AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET”, IJEFS, vol. 8, no. 1, pp. 112–130, 2016.
ISNAD Chitekuteku, Zvendi - Sandada, Maxwell. “AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET”. International Journal of Economics and Finance Studies 8/1 (June 2016), 112-130.
JAMA Chitekuteku Z, Sandada M. AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET. IJEFS. 2016;8:112–130.
MLA Chitekuteku, Zvendi and Maxwell Sandada. “AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET”. International Journal of Economics and Finance Studies, vol. 8, no. 1, 2016, pp. 112-30.
Vancouver Chitekuteku Z, Sandada M. AN ASSESSMENT OF FACTORS THAT DETERMINE THE LISTING OF SMALL TO MEDIUM ENTERPRISES (SMEs) ON THE ZIMBABWEAN ALTERNATIVE SECURITIES MARKET. IJEFS. 2016;8(1):112-30.