The finance literature suggests that analysts’ stock recommendations have negligibleimpact on market prices. Some studies suggest this lack of market impact may be partlydriven by the affiliations between investment banks and the firms their brokerage armscover (conflicts of interest)....

This paper investigates the relationship between leverage and the financial performance of listed firm in Kenya. We use annual data for the period 2002 – 2011. Using various panel procedures, our study finds reasonably strong evidence that leverage significantly, and negatively, affects the...

Background: Investors depend on rating agencies to provide an independent assessment of the ability of companies operating in the transition economy to meet their debt obligations. Any change in a firm's credit rating conveys informed signals about the financial health of the firm and that...

This paper investigates the relationship between leverage and the financial performance of listed firm in Kenya. We use annual data for the period 2002-2011. Using various panel procedures, our study finds reasonably strong evidence that leverage significantly, and negatively, affects the...