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The determinants of IPO firm prospectus length in Africa
journal contribution
posted on 2023-06-09, 04:08 authored by Bruce HearnThis paper studies the differential impact on IPO firm listing prospectus length from increasing proportions of foreign directors from civil as opposed to common law societies and social elites. Using a unique hand-collected and comprehensive sample of 165 IPO firms from across 18 African countries the evidence suggests that increasing proportions of directors from civil code law countries is associated with shorter prospectuses while the opposite is true for their common law counterparts. Furthermore increasing proportions of directors drawn from elevated social positions in indigenous society is related to increasing prospectus length in North Africa while being insignificant in SSA.
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Publication status
- Published
File Version
- Published version
Journal
Review of Development FinanceISSN
1879-9337Publisher
ElsevierExternal DOI
Issue
2Volume
3Page range
84-98Department affiliated with
- Business and Management Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2016-11-22First Open Access (FOA) Date
2016-11-22First Compliant Deposit (FCD) Date
2016-11-22Usage metrics
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