CORPORATE FINANCING STRATEGIES EMPLOYED BY ZIMBABWEAN LISTED FIRMS IN THE MULTIPLE CURRENCY ERA

Risk Governance & Control: Financial Markets & Institutions

Farai Kwenda¹ 

关键词: Financial Strategy;    Rights Issue;    Dividends;    Multiple Currency;    Liquidity;   

DOI  :  10.22495/rgcv5i3c2art1

学科分类：社会科学、人文和艺术（综合）

来源: Virtus Interpress

【 摘 要 】

The aim of this study is to review the corporate financing strategies employed by Zimbabwean listed firms since the adoption of the multiple currency system which set the country on a recovery path after the decade-long political, social and economic crises. The adoption of the multiple currency system necessitated recapitalization and retooling because most firms’ balance sheets were wiped away during the hyperinflation era. The study is based on secondary data of 80 firms listed on the Zimbabwe Stock Exchange. The study found that rights issues and high retention ratios were the main strategies used by firms to recapitalize their operations. The recapitalization efforts have been by liquidity challenges that have characterised the multiple currency era.

【 授权许可】

CC BY-NC