In this paper we investigate the effect of financial leverage and market size of selected stocks on stock returns. Ordinary Least Square (OLS) regression methods were used to model the relationship between the dependent variable and the independent variables. The leverage of the selected firms were estimated from the annual financial reports covering a period of five years (i.e.2006-2010) of selected five corporations operating in the manufacturing sector. Furthermore, average monthly stock prices of the selected stocks between 2006-2010 for Unilever, Pioneer Kitchenware, PZ Cussions, Aluworks and Camelot making up the five selected companies were used. The study established a negative and significant relationship between leverage and stock return when the overall industrial data is used. However at the individual firm level the relationship was not stable. Four out of the five selected companies (i.e. PZ, Unilever, Aluworks and Camelot) all had associated leverage coefficients to be negative. Pioneer Kitchenware however, had positive leverage coefficient. The study also found the relationship between Size and stock returns to be positive and significant. The size effect within the manufacturing sector was however very limited.

This paper conducts a time series analysis of annual data set from 1980-2010, to study the potential determinants of FDI inflows to Ghana. The paper used modern econometric methodology which includes unit root testing, and co-integration analysis. Both the long-run and short run determinants of FDI were analysed using the Vector Error Correction Model (VECM). The VECM also enabled the researchers predict the speedy with which the short-run and long-run disequilibrium is corrected. The robustness of the estimated coefficients was investigated and found to be robust. The research reveals that infrastructural development and political stability have long-run positive and significant impact on the level of FDI inflows in Ghana. The study further established FDI targeting Ghana to be predominantly resource seeking for now. The short-run estimate for natural resources is positive and significant. However, Ghana cannot continue to rely on its natural resources to attract FDI as the long-run relationship is negative. Factors associated with market and efficiency seeking FDI such as market size, and value of the cedi were either found to be insignificant or unstable coefficients on inflows. Political instability is found to significantly deter inflows implying that strengthening of democratic institutions can bring in economic dividends by serving as a driver of FDI. The state of infrastructure is found to be below the required level necessary and sufficient to serve as a driver of inflows hence the negative short term effect. The policy implication of this finding is that for Ghana to fully realize its potential as far as foreign direct investment inflows is concerned it needs to embark on massive investments in infrastructure.

Doubts remain among stakeholders in academia and the housing industry about the potential success of build-to-rent to generate positive outcomes for institutional investors and affordable dwellings for low- and moderate-income households. However, a systematic study on the viability of build-to-rent to deliver affordable housing in Australia is largely rare and non-existent in the literature. We fill this gap in the literature by investigating the financial viability of build-to-rent and its potential to generate affordable rental housing outcomes in Brisbane, Australia. Using rental prices from CoreLogic (Formerly RP data) and construction-related costing data from WT Partners Australia for 2019, we apply the whole-life costing approach to investment analysis and confirm that build-to-rent can be feasible in Australia under equity financing. Also, we find that under the current regulatory regimes and market structure, build-to-rent will fail to deliver affordable housing outcomes. Moreover, providing free land alone cannot help to make build-to-rent affordable. Thus, significant public subsidy and tax concessions, particularly on Goods and Services Tax (GST) on construction-related costs, may be required if build-to-rent developments are to generate affordable housing outcomes in Australia.

This paper examines the explanatory power of a uni-factor asset pricing model (CAPM) against a multi-factor model (The Fama-French three factor model) in explaining excess portfolio returns on non-financial firms on the Ghana Stock Exchange (GSE). Data covering the period January 2002 to December 2011 were used. A six Size-Book-to-Market (BTM) ratio portfolios were formed and used for the analysis. The paper revealed that, a uni-factor model like the (CAPM) could not predict satisfactorily, the excess portfolio returns on the Ghana Stock Exchange. By using the multi-factor asset pricing model, that is, the Fama-French Three Factor Model, excess portfolio returns were better explained. It is then conclusive enough that, the multi-factor asset pricing model introduced by Fama and French (1992) was a better asset pricing model to explain excess portfolio returns on the Ghana Stock Exchange than the Capital Assets Pricing Model (CAPM) and that there exist the firm size and BTM effects on the Ghanaian Stock market.

This paper investigates the applicability of the Fama-French Three Factor Model in explaining, portfolio returns on the Ghana Stock Exchange. Following the model and variables proposed originally by Fama and French (1992), two additional variables firm size and Book-to-Market (BTM) ratio are added in a six Size-BTM portfolios to the excess returns on the market portfolio. Data from the Ghana Stock Exchange database covering the period between 2002 and 2011 were used for the analysis. The results reveal that the portfolio returns on the Ghana stock exchange are better explained by the three factor model proposed by Fama and French (1992).