We investigate whether macroeconomic factors adequately proxy for systematic influences in stock returns within the South African context. We also investigate whether a commonly used solution to factor omission in macroeconomic ...

This study uses a sample of 49 manufacturing, 24 mining and 23 retail firms listed on the Johannesburg Stock Exchange during the period 2005-2010 to investigate the relationship between leverage and the firm’s key financial ...

Although the success of small, medium and micro enterprises (SMEs) is extremely important for the South African economy, their failure rate is amongst the highest in the world; some researchers estimate as high as 90 ...

Small and Medium Enterprises (SMEs) are important catalysts of economic growth, creating employment opportunities and contributing to the gross domestic product (GDP) of their respective countries. Unfortunately, SMEs ...

This study tests the trade-off and pecking order hypotheses of corporate financing decisions and estimates the speed of adjustment toward target leverage using a cross-section of 42 manufacturing, 24 mining and 21 retail ...

This study presents a three-stage approach in determining financial distress of companies listed on the Johannesburg Stock Exchange. A novel feature of the present study is that it deviates from a binary classification ...