1,720,954 research outputs found
Effect of cross listing on stock liquidity in East Africa security exchanges
Get PDFA thesis submitted in partial fulfillment of the requirement for the Degree of Master of Commerce at Strathmore UniversityDespite the huge importance of stock liquidity of listed firms, little is known on whether cross listing has an effect on stock liquidity for all cross listed firms in East Africa. This research study aimed at determining the effect of cross-listing on stock liquidity of cross-listed firms in East Africa and further the effect on the relationship between liquidity drivers and stock liquidity. The perception of management of listed firm’s on cross-listing was also assessed. The study used both primary and secondary sources of data. The secondary data were collected from the share pricelists for nine cross-listed firms in East Africa. The primary data were obtained through issue of questionnaires to thirty five finance managers and CFOs of East Africa listed firms to assess their perception of factors that motivate and hinder cross-listings as well as effect of cross-listing on liquidity. Random effects panel regression and test of equality of means were used to analyze the secondary data whereas the primary data was analyzed using descriptive statistics and triangulated to secondary data findings. The regression model output indicated that no significant relationship exists between cross-listing and stock liquidity as measured by bid-ask spread in the short run and long run. Further, the analysis on individual cross-listing events indicated that majority of the cross-listings did not yield significant improvements in stock liquidity both in the short run and long run. Management of listed firms perceive that most cross-listings in East Africa are majorly motivated by need to signal better future prospects to investors and to exploit growth opportunities. Investors who are interested in stock liquidity are encouraged to look at whether other strategies including rights issue and stock splits improve stock liquidity of East Africa firms since investing in cross-listed firms may not be quite beneficial. Researchers and scholars are encouraged to research on whether strategies such as rights issue and stock splits improve stock liquidity. One limitation of this study was that it focused on East Africa which comprises of frontier markets and hence the results cannot be conclusively generalized to the emerging and developed markets. Future researchers can explore the emerging and developed markets and find out if the findings will be similar. The study contributes to knowledge through analyzing the market width aspect of liquidity and comparing the effect of cross-listing in the different East Africa markets since they are developed differently
Sustainability Performance Commitment and Market Liquidity: An Event study analysis
No full textThis study investigates the impact of voluntary commitments to the Sustainable Stock Exchange Initiative (SSEI) on market liquidity within African Security Exchanges amid an increasing global focus on sustainability in capital markets. While adopting the event study methodology, the study utilised the Paired T-test and the two-way fixed effect panel model to analyse the short- and medium-term market liquidity effects of 13 Security Exchanges. The findings revealed significant short-term market liquidity improvements, which diminished over time. These results highlight the importance of policy recommendations that offer insights for security exchange policymakers as they adapt to sustainability dynamics and strive to enhance market performance. The study suggests that exchanges adopt concrete strategies to maintain market liquidity improvements, such as incentivisation schemes for listed companies to enhance their long-term sustainability performance and comprehensive measures addressing other underlying factors influencing market liquidity. Further, security exchanges should continue developing investor education programs on sustainability to enhance awareness and implement more sustainable initiatives to enhance investor confidence and meet the growing demand for responsible investment.This study investigates the impact of voluntary commitments to the Sustainable Stock Exchange Initiative (SSEI) on market liquidity within African Security Exchanges amid an increasing global focus on sustainability in capital markets. While adopting the event study methodology, the study utilised the Paired T-test and the two-way fixed effect panel model to analyse the short- and medium-term market liquidity effects of 13 Security Exchanges. The findings revealed significant short-term market liquidity improvements, which diminished over time. These results highlight the importance of policy recommendations that offer insights for security exchange policymakers as they adapt to sustainability dynamics and strive to enhance market performance. The study suggests that exchanges adopt concrete strategies to maintain market liquidity improvements, such as incentivisation schemes for listed companies to enhance their long-term sustainability performance and comprehensive measures addressing other underlying factors influencing market liquidity. Further, security exchanges should continue developing investor education programs on sustainability to enhance awareness and implement more sustainable initiatives to enhance investor confidence and meet the growing demand for responsible investment
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
koamabayili/VECTRON-author-checklist: VECTRON author checklist
No full textWe have done our best to complete the author checklist relating to the use of animals in the hut study. Note that the objective for the hut study was to evaluate the IRS treatment applications for residual efficacy against Anopheles mosquitoes, including the local An. coluzzii mosquito population. Cows were only used to attract mosquitoes into the huts and no tests were carried out directly on the cows. The author checklist is intended for use with studies where experiments are carried out on animals, which is why we have had such difficulty in completing this for the hut study, as many of the questions do not relate to how the cows were used
Author-wise bibliometric analysis based on entropy.
No full textAuthor-wise bibliometric analysis based on entropy.</p
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