The South Pacific Stock Exchange: Is it a Market or Status Symbol?
Article first published online: 30 JAN 2009
© 2009 CPA Australia
Australian Accounting Review
Volume 19, Issue 1, pages 54–63, March 2009
How to Cite
Mala, R. and White, M. (2009), The South Pacific Stock Exchange: Is it a Market or Status Symbol?. Australian Accounting Review, 19: 54–63. doi: 10.1111/j.1835-2561.2009.00040.x
- Issue published online: 30 JAN 2009
- Article first published online: 30 JAN 2009
Listing on a stock exchange is one of the most significant events in a company's life cycle. Using a case study approach we examine why companies in Fiji list on a stock exchange. The various factors that have been found to motivate companies to list include enhancing their image and reputation, increasing the firm's value and introducing better financial and managerial practices. Importantly, the accessing of new sources of finance has not been a determinant of a company's listing decision. The findings imply that in emerging economies, stock exchange listing can be perceived as a status symbol.