Exploring demutualisation of stock markets: A case study of the Zimbabwe Stock Exchange [dataset]

Iosr Journals, Itumeleng Magadi, Cuthbert Muza, Zivanai Tension Kandiero
2015 Figshare  
Since the start of the demutualization wave in early 1990s, debate ensued about the impact of this program and while many researchers and policy makers have praised the demutualization of stock exchanges, others have been more sceptical and tended to be reluctant in undertaking the demutualization decision. Zimbabwe has not been left out. For the past 3 years, the debate about the demutualisation of the Zimbabwe Stock Exchange (ZSE) has been gaining momentum over time about the likely impact on
more » ... he likely impact on the performance of the demutualization program. While assessing the performance of demutualized stock exchanges provides useful insights for policy makers on the usefulness and value of this program, it remains important for policy makers to link the implementation of this program to the nature of the stock exchange, including its existence, behaviour and its relationship with the market and the external factors. It is on this background that a mixed study utilising qualitative and quantitative research methods will be carried out. A sample of 19 stockbrokers, 10 Individual and 29 Institutional investors were used to assess the debated impact of demutualisation program in the Zimbabwean economy. Keywords: Self-Listing: This occurs when a stock exchange entity, gets listed on its own stock market. Bullish, bearish: Words used to describe investor attitudes. Bullish refers to an optimistic outlook while bearish means a pessimistic outlook. Business failure: A business that has terminated with a loss to creditors. Churning: Excessive trading of a client's account in order to increase the broker's commissions. Comprehensive due diligence investigation: The investigation of a firm's business in conjunction with securities offering to determine whether the firm's business and financial situation and its prospects are adequately disclosed in the prospectus for the offering. Exchange: The market place in which shares, options and futures on stocks, bonds, commodities and indices are traded.
doi:10.6084/m9.figshare.1424827.v1 fatcat:gcgeuv57trcd3bkapendragdku