Factors, and Decisions of Listing in Stock Exchange - Study on Khartoum Stock Exchange

Abstract

and attitude toward companies decision of listing in stock exchange. Much of studies have been This study concentrated on Khartoum stock exchange. Where addressed the impact of factorsmade of the fact that general attitudes have been assessed with respect to organizations and institutions. But the failure of such general attitudes to predict specific behaviors directed at the target of the attitude has produced calls for abandoning the attitude concept. For this reason, this research undertakes theory of planned behavior to deal with this concept. as guide to measure predicting behavior. The study investigates the influence of factors of listing variables (earning forecast, word of mouth communication and elements of corporate governance) on the behavioral variable (decision of listing), while attitude variable (intention of listing) functions as a mediator variable. This study is descriptive in its nature where data collected through direct questionnaire survey. A total of 116 usable responses from the target sample were used for the purpose of this study. Factor and reliability analyses were performed and regression analysis was conducted to test the hypotheses. The findings provided empirical support for the theoretical framework. The results indicated that factors of listing variables played a significant an important role in shaping the attitude variable dimension (intention of listing). Intention of listing had significant influence on the behavioral variable (decision of listing). On the other hand, the study finds the mediation effect of intention of listing was significant between earning forecast and decision of listing only, and not significant with word of mouth communication and elements of corporate governance. However, the results supported the mediation effect of intention of listing on the relationship between earning forecast and decision of listing.