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    SMEs financing through the capital market in Zimbabwe: possibilities, benefits and constraints.

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    ChiworesoLM_SMEs_Financing_through_the_Capital_Market (1.432Mb)
    Date
    2020
    Author
    Chiworeso, Lewis M
    Type
    Thesis
    Metadata
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    Abstract
    The purpose of the study was to assess the possibilities, constraints as well as benefits of financing SMEs through the capital markets in Zimbabwe. The study conceptual framework was guided by the firms financing theory, the pecking order theory, the tradeoff theory as well as the agency theory. Data was collected through an online semi structured interview of a target population from three main groups comprising of SMEs owners, financiers and representatives from the financial regulators. Data was compiled and organized, thematic data analysis was used to interpret meaning. The research findings revealed that lack of information, costs as well as lack of financial education among SMEs owners are the major constraints hindering small business participation in the capital markets. The study recommended that capital market authorities should partner with government to establish an information gathering and dissemination center. Efforts should be made to increase the level of awareness of capital markets operations among financiers and small business owners. The research further proposes that future studies should investigate why SME markets seem to fail to attract many small firms and whether these reasons lie on the supply or the demand side of funds. And also future researchers may extend the frontiers of knowledge by making a comparative analysis between money and capital market operations regarding SMEs’ financing in a developing economy.
    URI
    https://hdl.handle.net/10646/4714
    Additional Citation Information
    Chiworeso, L. M (2020). SMEs financing through the capital market in Zimbabwe: possibilities, benefits and constraints. (Unpublished master's thesis). University of Zimbabwe.
    Publisher
    Not published
    Subject
    Small Enterprise Development Cooperation
    Financiers and representatives
    Small business support
    Financial regulators
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    • Faculty of Business Management Sciences and Economics e-Theses Collection [496]

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