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Overcoming financing constraints to corporate expansion: evidence from a company in an emerging Islamic market
journal contribution
posted on 2023-06-08, 13:31 authored by Bruce Hearn, Jenifer Piesse, Roger StrangeRoger StrangeThe sourcing of low-cost finance to facilitate corporate expansion on competitive terms is a major challenge to firms from emerging markets. There are additional constraints in Islamic markets as financial instruments must adhere to shari’ya law. This paper examines the approach taken by the Sudan Telecommunications Company (Sudatel) to obtain cost effective equity financing using secondary listings on multiple Middle East and North Africa (MENA) stock exchanges. We compare the costs of equity for Sudatel stock on the Sudan and Abu Dhabi Exchanges, and compare these figures with those for Sudatel’s two main regional competitors. Furthermore, we highlight the risk-return trade-off faced by investors in Sudatel stock on both Exchanges, and provide evidence of the potential benefits to investors from the overseas listing
History
Publication status
- Published
File Version
- Published version
Journal
Transnational CorporationsISSN
1014-9562Publisher
UNCTADIssue
3Volume
18Page range
1-26Department affiliated with
- Business and Management Publications
Full text available
- Yes
Peer reviewed?
- Yes
Legacy Posted Date
2012-11-13First Open Access (FOA) Date
2012-11-13First Compliant Deposit (FCD) Date
2012-11-06Usage metrics
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