November 2008

An empirical analysis of factors associated with the profitability of Small and medium - enterprises in Nigeria

  The paper empirically investigated the relationship between profitability, bank loans, age of business and the size of small and medium enterprises in Nigeria. Using fixed-effects regression model, the paper was based on a balanced panel data of 115  SMEs of existing firms that have taken loans or currently have active loans, randomly selected in Ondo State, Nigeria. The equation specified profitability...

Author(s):   Grace Tola Olutunla and Tomola Marshal Obamuyi  

November 2008

Language, communication and information flow in entrepreneurship

  This paper examines language, communication and information flow in entrepreneurship. Language is considered to be a key to the heart of a people and communication is the essence of language. The substance of communication is, therefore, information. Knowledge of information and access to it is considered very necessary for the establishment, survival and growth of any business organisation. Therefore,...

Author(s):   Amuseghan Sunday Adejimola  

November 2008

Stock market development and financing decisions of listed firms in Ghana

  The study examines the impact of stock market development on the financing choices of listed firms in Ghana using data covering the period 1991 to 2005. We regressed debt-equity ratios on market size and market liquidity variables using ARIMA models. Our results suggest that stock market development has not led to the substitution of equity for debt as per propositions by Demiguc-Kunt and Maksimovic (1996)....

Author(s):   Godfred A. Bokpin and Zangina Isshaq