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The determinants of IPO firm prospectus length in Africa

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journal contribution
posted on 2023-06-09, 04:08 authored by Bruce Hearn
This 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.

History

Publication status

  • Published

File Version

  • Published version

Journal

Review of Development Finance

ISSN

1879-9337

Publisher

Elsevier

Issue

2

Volume

3

Page range

84-98

Department affiliated with

  • Business and Management Publications

Full text available

  • Yes

Peer reviewed?

  • Yes

Legacy Posted Date

2016-11-22

First Open Access (FOA) Date

2016-11-22

First Compliant Deposit (FCD) Date

2016-11-22

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