STOCK MARKET DEVELOPMENT IN GHANA AND ITS CONTRIBUTION TO CORPORATE GROWTH
STOCK MARKET DEVELOPMENT IN GHANA AND ITS CONTRIBUTION TO CORPORATE GROWTH
- 주제(키워드) STOCK MARKET DEVELOPMENT , GHANA , CORPORATE GROWTH
- 발행기관 아주대학교 국제대학원
- 지도교수 송영균
- 발행년도 2008
- 학위수여년월 2008. 8
- 학위명 석사
- 학과 및 전공 국제대학원 국제경영학과
- 본문언어 영어
초록/요약
The development of stock market and its contribution to corporate financing in Ghana using stock market development indicators and firms’ balance sheets were studied. Particularly how useful the stock market has been to firms in mobilizing funds to finance their growth of total assets was investigated. The results indicated that an average listed firm finances it growth of total assets mainly by equity. The stock market is important source of long-term source of funding for the listed firms. The overall finding suggests that the stock market is contributing about 46% equity financing to corporate growth in Ghana. Annual trend of growth of companies follow similar pattern as the size of the stock market.
more목차
Abstract = I
Acknowledgements = II
List of Tables = III
List of Figures = IV
List of Acronyms = V
Chapter One: Introduction = 1
1.1 Introduction and Background = 1
1.2 Statement of the Problem = 2
1.3 Objective of the study = 3
1.4 Significance of the study = 4
1.5 Structure of the study/Organization = 4
1.6 Scope and Limitation of the Study = 5
Chapter Two: Literature = Review
2.1 Managerial Theory of Investment = 6
2.2 Corporate Financing Choices = 6
2.2.1 Corporate Financing in Developed Countries = 6
2.2.2 Corporate financing Choices in Developing Countries = 7
2.2.3 Determinants of Corporate financing Choices = 12
Chapter Three: Stock market and the corporate sector = 15
3.1 Overall Description of Ghana stock market = 15
3.1.1 Historical Background = 15
3.1.2 The Incorporation of the Ghana Stock Exchange (GSE = 16
3.1.3 Trading System and Operations of the GSE = 18
3.2 Analysis of corporate growth in Ghana = 19
3.2.1 Overview of the Ghanaian Corporate Sector = 19
3.2.2 Activities of the corporate sector = 21
Chapter Four: Methodology and = Analysis
4.1 Data and Methodology = 23
4.1.1 Variables and indicators of corporate growth = 23
4.1.2 Company size and measures of Growth = 23
4.1.3 Financing of growth = 24
4.1.4 Stock market indicators = 24
4.2 Market Analysis = 26
4.2.1 All Share Index = 26
4.2.2 Market Capitalization = 27
4.2.3 Market Size = 29
4.2.4 Market Concentration = 30
4.2.5 Price earning Ratio Analysis = 32
4.3 Descriptive analysis of Firms data = 34
Chapter Five: Conclusion = 41
5.1Conclusion = 41
5.2 Recommendations = 43
Bibliography = 45
Appendix: 1 Formula = 47
Appendix 2 Abstracts of Companies Balance Sheets = 48
