Zambia's stock exchange and privatisation programme: corporate finance law in emerging markets
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Lewiston [u.a.]
Mellen
2001
|
| Series: | Studies in African Economic and social development
15 |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XVI, 565 S. |
| ISBN: | 0773475605 |
Staff View
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Record in the Search Index
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|---|---|
| adam_text | ZAMBIA S STOCK EXCHANGE AND PRIVATISATION PROGRAMME CORPORATE FINANCE
LAW IN EMERGING MARKETS KENNETH KAOMA MWENDA STUDIES IN AFRICAN ECONOMIC
AND SOCIAL DEVELOPMENT VOLUME 15 THE EDWIN MELLEN PRESS
LEWISTON QUEENSTON LAMPETER CONTENTS PREFACE XIII FOREWORD XV CHAPTER
ONE PLACING CORPORATE FINANCE LAW IN CONTEXT 1 1.1. BACKGROUND TO THE
REGULATION OF CORPORATE FINANCE 3 1.2. SCOPE OF THE STUDY AND SOURCES OF
THE LAW 10 1.3. LITERATURE REVIEW 10 1.4. OUTLINE OF SUBSEQUENT CHAPTERS
14 CHAPTER TWO PERSPECTIVES ON EMERGING MARKETS: THE CAPITAL STRUCTURE
DEBATE 17 2.1. POLICY CONSIDERATIONS UNDERPINNING CAPITAL STRUCTURE
DECISIONS 22 2.2. FINANCING OF CORPORATE CAPITAL 23 2.3. GEARING AND ITS
IMPACT ON CAPITAL STRUCTURE 28 2.4. TRADITIONAL VIEW OF CAPITAL
STRUCTURE 31 2.5. MODIGLIANI AND MILLER HYPOTHESIS ON CAPITAL STRUCTURE
36 2.6. TAX IMPLICATIONS AND A CRITIQUE OF THE MODIGLIANI AND MILLER
HYPOTHESIS 42 2.7. CONCLUSION 59 CHAPTER THREE OVERVIEW OF SECURITIES
REGULATION IN EMERGING STOCK MARKETS AND A CASE FOR THE ATTRACTIVENESS
OF EMERGING MARKETS 61 3.1. A DEFINITION OF EMERGING CAPITAL MARKETS
(EMS) 62 3.2. LION MARKETS OF AFRICA 65 3.3. CHINA S EMERGING STOCK
MARKETS 70 3.4. NEW CHALLENGES TO THE EMERGING MARKETS DEBATE . 77 3.5.
PRIVATISATION AND ITS INFLUENCE ON PUBLIC DISTRIBUTION OF SECURITIES 81
3.6. PRIVATISATION AND THE SETTING UP OF THE LUSAKA STOCK EXCHANGE 83
3.7. MAKING A CASE FOR EMERGING MARKETS 87 3.8. CONCLUSION 93 CHAPTER
FOUR PUBLIC DISTRIBUTION OF SECURITIES: THE OLD LAW 95 4.1. FACTORS
INHIBITING THE SETTING UP OF A STOCK EXCHANGE PRIOR TO 1993 97 4.2.
ADVANTAGES OF RAISING CAPITAL ON THE STOCK MARKET 101 4.3. THE COMPETENT
AUTHORITY 104 4.4. TYPES OF STOCK EXCHANGES 108 4.5. SECURITIES
TRADEABLE ON STOCK MARKETS 111 4.6. COMPANY LAW PREREQUISITES TO PUBLIC
DISTRIBUTION OF SECURITIES 116 4.7. METHODS OF MARKETING SECURITIES TO
THE PUBLIC 119 4.8. LISTING REQUIREMENTS AND PARTICULARS 120 4.9.
JUDICIAL REVIEW OF DECISIONS OF THE COMPETENT AUTHORITY AND THOSE OF THE
STOCK EXCHANGES ON MATTERS RELATING TO LISTING OF SECURITIES 133 4.10.
AUTHORISATION OF FINANCIAL INTERMEDIARIES 136 4.11. FINANCIAL DISCIPLINE
OF FINANCIAL INTERMEDIARIES AND STOCK EXCHANGES 137 4.12. CONCLUSION 139
CHAPTER FIVE DEVELOPMENTS IN SECURITIES LAW 141 PART I MARKE T
STRUCTURES AND THE VETOING OF OFFER DOCUMENTS 5.1. THE COMPETENT
AUTHORITY 143 5.2. SECURITIES AND STOCK MARKETS 145 5.3. SECURITIES ON
THE MARKETS 153 5.4. METHODS OF MARKETING SECURITIES TO THE PUBLIC 156
5.5. REGISTRATION AND LISTING OF SECURITIES 162 PART //CONTROL OF MARKET
ABUSES 5.6. IMPROPER TRADING AS A FORM OF MARKET ABUSE 168 5.7. INSIDER
DEALING AS A MAJOR FORM OF MARKET ABUSE 170 5.8. CONCLUSION 188 CHAPTER
SIX TRADING THROUGH FINANCIAL INTERMEDIARIES AND PROSPECTS OF INVESTOR
PROTECTION 191 PART I AUTHORISATION OF FINANCIAL INTERMEDIARIES AND
FIDUCIARCY DUTIES OF INTERMEDIARIES 6.1. TYPES OF INTERMEDIARIES 192
6.2. POWERS OF THE COMMISSION TO INVESTIGATE INTERMEDIARIES AND RESTRICT
THEIR BUSINESS ACTIVITIES 197 6.3. JUDICIAL REVIEW OF DECISIONS
AFFECTING FINANCIAL INTERMEDIARIES 199 6.4. WHO IS A FIDUCIARY? 200 6.5.
FIDUCIARY DUTIES OF FINANCIAL INTERMEDIARIES 201 6.6. THE COMPENSATION
FUND 216 6.7. PROPOSALS TO STRENGTHEN FIDUCIARY DUTIES OF FINANCIAL
INTERMEDIARIES 218 PART II COLLECTIVE INVESTMENT SCHEMES AND SPREADING
OF INVESTMENT RISK 6.8. AUTHORISATION OF COLLECTIVE INVESTMENT SCHEMES
220 6.9. INVESTOR PROTECTION UNDER COLLECTIVE INVESTMENT SCHEMES . 227
6.10. CONCLUSION 228 CHAPTER SEVEN PRIVATISATION AS A MEANS OF PUBLIC
DISTRIBUTION OF SECURITIES 229 7.1. POLICY OBJECTIVES UNDERPINNING THE
PRIVATISATION PROGRAMME 231 7.2. DEFINING PRIVATISATION 238 7.3. THE
ZAMBIA PRIVATISATION AGENCY 243 7.4. CONSTITUTIONALITY OF THE
PRIVATISATION PROGRAMME IN ZAMBIA 249 7.5. PROCEDURES FOR PRIVATISATION
AND COMMERCIALISATION OF PARASTATAL COMPANIES 251 7.6. FURTHER EVIDENCE
POINTING TO THE POSSIBILITIES OF A TWIN SYSTEM OF CORPORATE LAW . 267
7.7. SUPERFICIALITY OF THE AGENCY THEORY . 271 7.8. RECOMMENDATIONS TO
ACHIEVE A BETTER MEANS OF PRIVATISING PARASTATAL COMPANIES IN ZAMBIA 274
7.9. CONCLUSION 278 CHAPTER EIGHT CONSTRAINTS ON THE REGULATORY
FRAMEWORK GOVERNING PUBLIC DISTRIBUTION OF SECURITIES 281 PARTI
DEVELOPMENT OF THE CAPITAL MARKET IN ZAMBIA 8.1. PERFORMANCE OF THE
LUSAKA STOCK EXCHANGE AND MARKET CAPITALISATION OF THE EXCHANGE 282 8.2.
SECTORAL ANALYSIS AND PORTFOLIO DIVERSIFICATION 291 8.3. MARKET
PERFORMANCE OF LISTED AND QUOTED COMPANY SECURITIES 294 8.4. EVIDENCE ON
PERFORMANCE OF OTHER LISTED AND QUOTED SECURITIES 298 8.5. EMPIRICAL
EVIDENCE ON CONSTRAINTS AFFECTING THE MARKET AND THE LAW 301 8.6.
LIMITED PARTICIPATION OF FINANCIAL INSTITUTIONS IN SECURITIES INVESTMENT
AS A CONSTRAINT 308 PART II POTENTIAL MARKET PLAYERS ON THE LUSAKA STOCK
EXCHANGE 8.7. LIMITED PARTICIPATION OF THE ZAMBIAN PUBLIC ON THE LUSAKA
STOCK EXCHANGE 314 8.8. THE LUSAKA STOCK EXCHANGE AS A FACILITATOR OF
THE PRIVATISATION PROGRAMME AND THE IMPACT OF THE PROGRAMME ON VOLUMES
OF SECURITIES TRADE 322 8.9. THE ROLE PLAYED BY OTHER FINANCIAL
INSTITUTIONS IN PROMOTING SECURITIES INVESTMENT 328 8.10. EVIDENCE ON
COMPETENCE AND DILIGENCE OF DEALERS, STOCKBROKERS AND ADVISERS 331 8.11.
CONCLUSION 339 CHAPTER NINE TOWARDS A REGIONAL STOCK EXCHANGE UNDER
REGIONAL INTEGRATION 341 9.1. THE COMMON MARKET FOR EASTERN AND SOUTHERN
AFRICA 346 9.2. THE DOCTRINE OF STATE SOVEREIGNTY VERSUS REGIONAL
INTEGRATION 364 9.3. OTHER FACTORS AFFECTING THE HARMONISATION OF
NATIONAL POLICIES OF COMESA MEMBER STATES 368 9.4. THE SADC OPTION AS A
THREAT TO THE COMESA REGIONAL INTEGRATION SCHEME 369 9.5. DRAWING
COMPARISONS AND MAKING DISTINCTIONS 372 9.6. CONCLUSION 379 CHAPTER TEN
CONCLUSION 383 APPENDICES A-K DATA COLLECTED BY WAY OF INTERVIEWS 389 L
QUESTIONNAIRE AND RESPONSES TO QUESTIONNAIRE 505 BIBLIOGRAPHY 52 9 INDEX
553
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| indexdate | 2024-07-09T18:51:34Z |
| institution | BVB |
| isbn | 0773475605 |
| language | English |
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| physical | XVI, 565 S. |
| publishDate | 2001 |
| publishDateSearch | 2001 |
| publishDateSort | 2001 |
| publisher | Mellen |
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| series | Studies in African Economic and social development |
| series2 | Studies in African Economic and social development |
| spelling | Mwenda, Kenneth Kaoma Verfasser aut Zambia's stock exchange and privatisation programme corporate finance law in emerging markets Kenneth Kaoma Mwenda Lewiston [u.a.] Mellen 2001 XVI, 565 S. txt rdacontent n rdamedia nc rdacarrier Studies in African Economic and social development 15 Wertpapierrecht (DE-588)4065682-2 gnd rswk-swf Sambia (DE-588)4076986-0 gnd rswk-swf Sambia (DE-588)4076986-0 g Wertpapierrecht (DE-588)4065682-2 s DE-604 Studies in African Economic and social development 15 (DE-604)BV001883046 15 GBV Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009409145&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Mwenda, Kenneth Kaoma Zambia's stock exchange and privatisation programme corporate finance law in emerging markets Studies in African Economic and social development Wertpapierrecht (DE-588)4065682-2 gnd |
| subject_GND | (DE-588)4065682-2 (DE-588)4076986-0 |
| title | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets |
| title_auth | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets |
| title_exact_search | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets |
| title_full | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets Kenneth Kaoma Mwenda |
| title_fullStr | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets Kenneth Kaoma Mwenda |
| title_full_unstemmed | Zambia's stock exchange and privatisation programme corporate finance law in emerging markets Kenneth Kaoma Mwenda |
| title_short | Zambia's stock exchange and privatisation programme |
| title_sort | zambia s stock exchange and privatisation programme corporate finance law in emerging markets |
| title_sub | corporate finance law in emerging markets |
| topic | Wertpapierrecht (DE-588)4065682-2 gnd |
| topic_facet | Wertpapierrecht Sambia |
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