Ushad Subadar Agathee

• University of Mauritius

Purpose This study aims to explore the quality of corporate governance disclosure under an “apply and explain” regime in the context of an emerging economy (Mauritius), following a transition from the traditional “comply or explain” approach within the national code of corporate governance. Design/methodology/approach The research relies on a cont...

Employing panel data analysis, the study investigated the impact of risk on speed and costs of adjustments on target leverage on listed firms from the African markets—a panel data set of 2790 observations for 12 years spanning from 2008 to 2019. Based on the results of the Unit root test and Granger causality test, there are bidirectional relations...

Purpose of Study: The purpose of this study is to investigate the impact of idiosyncratic and macroeconomic risks on financing decision on SADC countries. Methodology: Employing data from the African Financials database, the analysis is conducted over a ten-year period spanning from 2008 - 2019 for 309 companies. Unit Root Fisher Chi- Square Test a...

Purpose The purpose of this study is to investigate the impact of idiosyncratic and macroeconomic risks on capital structure on SADC countries. Design/methodology/approach Employing data from the African Financials database, the analysis is conducted over a ten year period spanning from 2009 to 2018 for 309 companies. Unit Root Fisher Chi-Square t...

Purpose This study constructs time series model, artificial neural networks (ANNs) and statistical topologies to examine the volatility and forecast foreign exchange rates. The Mauritian forex market has been utilized as a case study, and daily data for nominal spot rate (during a time period of five years spanning from 2014 to 2018) for EUR/MUR, G...

The aim of this paper is to assess the profitability of contrarian strategies on the Stock exchange of Mauritius. Using data from 2001 till 2009 for all 40 listed companies on the official market, the study shows little support in favour of the contrarian effect. In particular, the losers portfolio seems to outperform the winners portfolio in one o...

Cashman, Harrison and Scheiler (2014) stated that companies with less political risk will use more debts than other organisations in other countries with more exposure to political risk. In particular, when there are low political risks, there will be more leverage and when there is high political uncertainty, there will be low debts indicating a n...

This study examines the long-run performance of initial public offerings on the Stock Exchange of Mauritius (SEM). The results show that the 3-year equally weighted cumulative adjusted returns average −16.5%. The magnitude of this underperformance is consistent with most reported studies in different developed and emerging markets. Based on multiva...

The aim of this study is to assess the characteristics of the hot and cold IPO markets on the Stock Exchange of Mauritius (SEM). The results show that the hot issues exhibit, on average, a greater degree of underpricing than the cold issues, although the hot issue phenomenon is not a significant driving force in explaining this short-run underprici...

Purpose ‐ The purpose of this paper is to assess the presence of the momentum effect on the Stock Exchange of Mauritius (SEM) and its implications for investors. Design/methodology/approach ‐ Data for stock trading activities of all listed companies on the SEM from 2001 through 2009 were subjected to the Jegadeesh and Titman methodology for the sel...

This paper investigates the underpricing of IPOs on the Stock Exchange of Mauritius (SEM). Taking into account the whole population of firms which went public since the inception of the SEM until 2010, the results show an average degree of underpricing within the range 10–20%. Using a regression approach, we demonstrate that the aftermarket risk...

The aim of this paper is to examine whether the Capital Asset Pricing Model (CAPM) is able to explain the stock returns in the Mauritian stock market. The sample in the present study consists of all securities listed on the official market of the Stock Exchange of Mauritius (SEM). Using data from 1998 to 2007, the study provides minor support for t...

This article investigates the effects of any seasonality on stock market returns and volatility on the Stock Exchange of Mauritius. A standard GARCH model was used on daily SEMDEX returns from 1998 to 2006. The results obtained indicate that the return series are leptokurtic, indicating a higher peak and a thicker tail than a normal distribution. A...

One of the main objectives of accounting systems is to provide investors with relevant information that may be useful in decision making for efficient resource allocation. This paper investigates the value relevance of accounting number in Mauritius through the implementation of six models. Hence, using a sample of all Mauritian firms listed on the...

This paper provides an analysis of return distribution properties in the presence of non-normality of returns. Using secondary data, the study examines the behavior of returns in the emerging African Stock Exchanges, such as Botswana, Ghana, Mauritius, Nigeria and South Africa for the period 1998 to 2003. The statistical results show non-normality...

As more and more industries experience the globalisation of business activities, measuring productivity performance has become an area of concern for policy makers all around the world. This paper provides a cross-sectional analysis of the firms operating in the Mauritian Textile and Apparel sector in the period 2004. Itsmain interest lies in the p...

This paper aims to investigate the day of the week effects in an emerging market, in particular the Stock Exchange of Mauritius, using observations as from the year the SEM started its operation on a daily basis for a full calendar year to 2006. The study shows that the Friday returns appeared to be higher relative to other trading days. However, o...

The objective of this paper is to examine possible month of the year effect in an emerging market, in particular, the Stock Exchange of Mauritius (SEM). Monthly SEMDEX returns were computed from 1989 to 2006. The results show that returns on average are lowest in the month of March and highest in the month of June. However, equality mean-return tes...

The main aim of this paper is to examine the presence of semi-monthly effects on the Mauritian official stock market. Using data from August 2006 to May 2009, the results seem to suggest that the mean returns in the second half of the calendar month is significantly lower than the mean returns in the first half of the calendar month for the whole s...

This paper investigates the significance of infrastructure as a factor in destination development. The classical demand for international tourism function is extended to include a proxy for infrastructure. An application involving the island of Mauritius is presented whereby total tourist arrivals as well as arrivals from B Seetanah , T D Juwaheer...

Strategy matters! It is hard to think of an organisation without a strategy, and one without is pointless. Any organisation, whatever its size and shape, needs strategy to survive, compete and prosper successfully in any given context. Strategy, however, is not a given. It requires a process of thought, choice, decisive action and management, and i...