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The main objective of this work is to analyze the determinants of the listing of WAEMU banks on the Bourse Régionale des Valeurs Mobilières (BRVM) and the effect of listing on their performance. The results indicate that, in terms of endogenous factors, the level of indebtedness, risk, size, the country to which the bank belongs and the year of listing have a significant effect on the probability of banks listing on the BRVM. As far as exogenous factors are concerned, inflation, interest rates on deposits and loans, and the performance of the stock market index are determinants in the decision…mehr

Produktbeschreibung
The main objective of this work is to analyze the determinants of the listing of WAEMU banks on the Bourse Régionale des Valeurs Mobilières (BRVM) and the effect of listing on their performance. The results indicate that, in terms of endogenous factors, the level of indebtedness, risk, size, the country to which the bank belongs and the year of listing have a significant effect on the probability of banks listing on the BRVM. As far as exogenous factors are concerned, inflation, interest rates on deposits and loans, and the performance of the stock market index are determinants in the decision to list. The results of the effect of listing on financial performance highlight small-scale undervaluation (low short-term returns), improved long-term performance (CAAR method and BHAR method). These results imply that UEMOA banks should use the stock market to the extent that listing improves performance. In addition, market authorities should work to ensure the credibility of the BRVM in order to attract the maximum number of investors.
Autorenporträt
Daouda Lawa tan TOE tiene un máster en Finanzas por la Universidad Nacional Cheng Kung (NCKU) de Taiwán en 2017. En enero de 2023, obtuvo un doctorado en Ciencias de la Gestión, Opción: Finanzas. Actualmente es profesor de investigación en la Unidad de Formación e Investigación en Economía y Gestión de la UTS.