Recent Journal Article Publications (from 2020)
- Muzindutsi, P.F., Sheodin, A., Moodley, K., Naidoo, M., Ramjiyavan, P., Moonsamy, R., Tiffany A. Pillay, T.A., & Dube F. (2023). Contagion risk in Equity Markets during Financial Crises and COVID-19: A comparison of developed and emerging markets. Scientific Annals of Economics and Business, Vol. 69 (4), 615-629.
- Gyimah, K. N., Akande, J. O., & Muzindutsi, P.F. (2022). Lending methodologies and SMEs access to finance in Ghana; the mediating role of credit reference information. Cogent Business & Management, Vol. 9(1), https://doi.org/10.1080/23311975.2022.2143075
- Muzindutsi, P.F., Mbili S., Molefe N., Ngcobo H., & Dube, F (In press). The JSE Size-Based Indices and Country Risk Components under Bullish and Bearish Market Conditions. International Journal of Economic Policy in Emerging Economies, Forthcoming.
- Muguto, H. T., Muguto, L., Bhayat, A., Ncalane, H., Jack, K. J., Abdullah, S., … & Muzindutsi, P.F. (2022). The impact of investor sentiment on sectoral returns and volatility: Evidence from the Johannesburg stock exchange. Cogent Economics & Finance, Vol.10(1), 2158007.
- Oyetade, D., Obalade, A.A., & Muzindutsi, P.F. (2022). Changes in Basel Capital Requirements and Lending Ability of African Commercial Banks. Journal of Central Banking Theory and Practice, Vol.11(3), 179-201.
- Aboluwodi, D., Nomlala, B., & Muzindutsi, P.F. (2022). The COVID-19 Crisis and Interaction between the JSE, Real Estate, Energy, Commodity and Cryptocurrency Markets. Journal of Economics and Financial Analysis, Vol. 6(1), 55-76.
- Obalade, A.A., Nhlapho, R. & Muzindutsi, P.F. (2022). Cyclical Efficiency vis-à-vis Market Conditions: A Case of Casablanca Stock Exchange.” The Journal of Developing Areas, Vol. 56(3), 1-15.
- Kunjal, D., Peerbhai, F. & Muzindutsi, P.F. (2022). Political, economic, and financial country risks and the volatility of the South African Exchange Traded Fund market: A GARCH-MIDAS approach. Risk Management, Vol. 24, 236–258. https://doi.org/10.1057/s41283-022-00093-y.
- Obalade, A.A., Tshutsha, A., Mvuyana, L., Ndlovu, N., & Muzindutsi, P.F. (2022). Are Frontier African Markets Inefficient or Adaptive? Application of Rolling GARCH Models. Journal of Economics and Financial Analysis, Vol. 6(1), 19-35.
- Muzindutsi, P.F., Rajhununan, S., Dube, M., Ganie, B., Mahess, E. & Reddy D. (2022). The effect of economic, financial and political country risk factors on the JSE mining index: An ARDL approach. International Journal of Trade and Global Markets, Vol. 15(1), 22-31.
- Vengesai, E., Rupande, L., Muguto, H.T., & Muzindutsi, P.F. (2022). Country risk and the interaction between gold price and gold stock index return volatilities: evidence from the South African market. International Journal of Trade and Global Markets, Vol. 15(1), 32-41.
- Muguto, L., & Muzindutsi, P.F. (2022). A Comparative Analysis of the Nature of Stock Return Volatility in BRICS and G7 Markets. Journal of Risk and Financial Management, Vol. 15(2), 85.
- Oyetade, D., Obalade, A.A., & Muzindutsi, P.F. (2022). The Impact of Changes in Basel Capital Requirements on the Resilience of African Commercial Banks. Scientific Annals of Economics and Business, Vol. 69(1), 111-132.
- Dube, F., Nzimande, N. & Muzindutsi, P.F. (2021). F Application of artificial neural networks in predicting financial distress in the JSE financial services and manufacturing companies. Journal of Sustainable Finance & Investment, https://doi.org/10.1080/20430795.2021.2017257
- Vengesai, E., Obalade, A.A. & Muzindutsi, P.F. (2021). Country Risk Dynamics and Stock Market Volatility: Evidence from the JSE Cross-Sector Analysis. Journal of Economics and Financial Analysis, Vol. 5(2),63-84.
- Oyetade, D., Obalade, A.A. & Muzindutsi, P.F. (2021). Basel capital requirements, portfolio shift and bank lending in Africa. ACRN Journal of Finance and Risk Perspectives, Vol. 10, 296-319.
- Muzindutsi, P.F., Dube, F. & Manaliyo, J.C. (2021). Impact of Economic, Financial and Political Risks on Tourism Performance: A Case of South Africa. GeoJournal of Tourism and Geosites, Vol. 38(4), 1309-1316.
- Dube F., Nzimande N. & Muzindutsi, P.F. (2021) Application of artificial neural networks in predicting financial distress in the JSE financial services and manufacturing companies. Journal of Sustainable Finance & Investment, https://doi.org/10.1080/20430795.2021.2017257
- Oyetade, D., Obalade, A.A. & Muzindutsi, P.F. (2021). Basel IV capital requirements and the performance of commercial banks in Africa. Journal of Banking Regulation, 1-14. https://doi.org/10.1057/s41261-021-00181-1
- Kunjal, D., Peerbhai, F. & Muzindutsi, P.F. (2021). The Performance of South African Exchange Traded Funds Under Changing Market Conditions. Journal of Asset Management, Vol. 22, 350-359.
- Redda, E.H. & Muzindutsi, P.F. (2021). Monetary Union Feasibility in the East African Community: Evidence from GPPP. International Journal of Economics and Financial Issues, Vol. 11(6), 9-16.
- Apau, R., Moores-Pitt, P. & Muzindutsi, P.F. (2021). Regime-Switching Determinants of Mutual Fund Performance in South Africa. Economies, Vol. 9(4), 161.
- Muzindutsi, P.F., Zungu, Z, Khanyile, M., Dlamini, T., Sithole, A. & Obalade, A.A. (2021) Modelling Exchange Rate Movements in South Africa: An ARDL Application. International Journal of Monetary Economics and Finance, Vol., 14(4), 342-352.
- Kunjal D., Nyasha, J., Ghisyan, A., Govender, P.J., Murugasen, S., Naidoo, P., Patel, D.S. & Muzindutsi, P.F. (2021). The Effect of Managerial Overconfidence on Firm Value: Evidence from the Johannesburg Stock Exchange. Management and Economics Review, Vol. 6(1), 1-14. https://doi.org/10.24818/mer/2021.06-01.
- Muzindutsi, P.F. & Mposelwa, S. (2021) A Comparative Analysis of the Expectations Hypothesis of the Term Structure of Interest Rates between the BRICS and G7 Countries. Comparative Economic Research. Central and Eastern Europe, Vol. 24(2), 41-56. https://doi.org/10.18778/1508-2008.24.13.
- Apau, R., Muzindutsi, P.F. & Moores-Pitt, P.B.D (2021). Mutual fund flow-performance dynamics under different market conditions in South Africa. Investment Management and Financial Innovations, Vol. 18 (1), 236-249.
- Obalade A.A. & Muzindutsi, P.F. (2021) Are African Stock Returns Significantly Different over Time? Rolling ANOVA Tests. Journal of Developing Areas (JDA), Vol. 55(2), 131-145.
- Chipunza, K. J., Muguto, H. T., Muguto, L., & Muzindutsi, P. F. (2020). Stock Returns and Valuation Ratios at Sector Level in South Africa: The Regime-switch Modelling Approach. Global Business Review, https://doi.org/10.1177/0972150920976641.
- Gaston R.T., Obalade, A.A & Muzindutsi P.F. (2020) Financial Crisis and Return Volatility of the JSE General Mining Index: GARCH Modelling Approach. The Journal of Accounting and Management, Vol. 10 (3).
- Muzindutsi, P.F. & Obalade, A.A. (2020) Effects of Country Risk Shocks on the South African Bond Market Performance Under Changing Regimes. Global Business Review, 1-13. https://doi.org/10.1177/0972150920951116.
- Sgammini, M., & Muzindutsi, P.F. (2020). Effect of Exchange Rate Movements on the Performance of Investment Portfolios in South Africa. International Journal of Economics and Finance, Vol. 12(2), 469-486.
- Chipunza, K. J., Muguto, H. T., Muguto, L., & Muzindutsi, P.F. (2020). Return predictability and valuation ratios: sector-level evidence on the Johannesburg stock exchange. Cogent Economics & Finance, Vol. 8(1). https://doi.org/10.1080/23322039.2020.1817252.
- Muzindutsi, P.F., Jamile, S., Zibani, N. & Obalade, A.A. (2020) The effects of political, economic and financial components of country risk on housing prices in South Africa. International Journal of Housing Markets and Analysis, Vol. 13(4). https://doi.org/10.1108/IJHMA-05-2020-0060.
- Oyetade, D., Obalade, A.A. & Muzindutsi, P.F. (2020). Impact of the Basel IV framework on securitization and performance of commercial banks in South Africa. Banks and Bank Systems, Vol. 15(3), 95-105. https://doi.org/10.21511/bbs.15(3).2020.09.
- Obalade, A.A. & Muzindutsi, P.F. (2020) Static or adaptive? The month-of-the-year and intra-month effects in African stock markets. International Journal of Monetary Economics and Finance, Vol. 13 (3), 215-234.
- Garidzirai, R. & Muzindutsi, P.F. (2020) A Panel ARDL Analysis of the Productivity of Key Economic Sectors Contributing to Local Economic Growth in an Emerging Country. Studia Universitatis Babes Bolyai-Oeconomica, Vol. 1, 39-53.
- OBALADE, A.A. & Muzindutsi, P.F. (2020) Validating the Adaptive Market Hypothesis in the Tunisian Stock Market. International Journal of T Trade and Global Markets, Vol. 13(1), 42-51.
- Vengesai, E., & Muzindutsi, P.F. (2020) Effect of Disaggregated Country Risk Shocks on Financing Decisions of the JSE listed Firms. International Journal of Economics and Finance Studies, Vol. 12 (1) 32-49.
- Nhlapho R.N. & Muzindutsi, P.F. (2020) The Impact of Disaggregated Country Risk on the South African Equity and Bond Market. International Journal of Economics and Finance Studies, Vol. 12 (1) 189-203.
- Obalade, A.A., & Muzindutsi, P.F. (2019). Calendar Anomalies, Market Regimes, and the Adaptive Market Hypothesis in African Stock Markets. Central European Management, Vol. 27(4), 71–94.
- Vengesai, E., & Muzindutsi, P.F. (2019). Country Risk Components and Firm Investment Behaviour of JSE Listed Firms. The Journal of Accounting and Management, Vol. 9(2), 35-44.
- Obalade, A.A., & Muzindutsi, P.F. (2019). Time Varying Calendar Anomaly in African Stock Markets: Application of GARCH Models. Journal of Global Business and Technology, Vol. 9 (15).1-15.
- Rupande, L., Muguto, H.T. & Muzindutsi, P.F. (2019). Investor sentiment and foreign financial flows: Evidence from South Africa. Proceedings of Rijeka Faculty of Economics, Vol. 37 (2), 473-498.
- Obalade, A.A. & Muzindutsi, P.F. (2019). Adaptive Market Hypothesis and Day-Of-The-Week Effect In African Stock Markets: Markov Switching Model. Comparative Economic Research, Vol. 22(3), 145-162.
- Rupande, L., Muguto, H.T. & Muzindutsi, P.F. (2019). Investor Sentiment and Volatility: Evidence from the Johannesburg Stock Exchange. Cogent Economics & Finance, Vol. 7. 1600233. https://doi.org/10.1080/23322039.2019.1600233.
BOOK CHAPTERS
- Gyimah, K. N., Akande, J.O., & Muzindutsi, P.F. (2023). Evaluation of Lending Methodologies Used by Ghanaian Banks to Extend Credit to SMEs. In Financial Sector Development in Ghana: Exploring Bank Stability, Financing Models, and Development Challenges for Sustainable Financial Markets (pp. 265-293). Cham: Springer International Publishing.
- Nyebar, A., Obalade, A.A., & Muzindutsi, P.F. (2023). Effectiveness of Credit Risks Management Policies Used by Ghanaian Commercial Banks in Agricultural Financing. In Financial Sector Development in Ghana: Exploring Bank Stability, Financing Models, and Development Challenges for Sustainable Financial Markets (pp. 231-264). Cham: Springer International Publishing.
- Kishimba, K.J., Akande, J.O. & Muzindutsi, PF. (2022). Financial Sector Reforms and the Significance to Banking Sector in Tanzania. In: Mugova, S., Akande, J.O., Olarewaju, O.M. (eds) Corporate Finance and Financial Development. Contributions to Finance and Accounting. Springer, Cham. https://doi.org/10.1007/978-3-031-04980-4_7
- Obalade, A.A., Moeti, T., Moodley, V., Randeree, Y. & Muzindutsi, P.F. (2021). Interlinkages and diversification opportunities among emerging bond markets: BRIC and BRICS comparison. In International Symposia in Economic Theory and Econometrics (pp. 131-149). Emerald Publishing Limited.
- Obalade, A.A. & Muzindutsi, P.F. (2020). Are African Stock Markets Inefficient or Adaptive? Empirical Literature [Online First], IntechOpen, DOI: 10.5772/intechopen.94438. Available from: https://www.intechopen.com/online-first/are-african-stock-markets-inefficient-or-adaptive-empirical-literature.
Recent Conference Presentations
- Kunjal, D., Peerbhai, F. & Muzindutsi, P.F. (2022) Liquidity Responses to Country Risk Effects: An Evaluation of the South African Exchange Traded Fund Market. Presented at: Southern African Finance Association (SAFA) Annual Conference, 11 – 14 January 2022, Cape own South Africa.
- Muzindutsi, PF, et al. (2022) A Comparative Analysis of Housing Price Bubbles in the South African Major Cities. Presented at: SIBR 2022 (Tokyo) Conference on Interdisciplinary Business and Economics Research, 6th-7th January 2022, Tokyo, Japan.
- Apau, R., Moores-Pitt, P. & Muzindutsi, P.F. (2021). Markov-Switching VAR Estimation of South African Flow-Performance Dynamics. Presented at: the Biennial Conference of the Economic Society of South Africa conference, 14 – 16 September 2021, virtually.
- Aboluwodi, D., Nomlala, N. & Muzindutsi, P.F. (2021) COVID-19 Crisis and linkages between the JSE Markets and the Alternative Investment Markets. Presented at: the Biennial Conference of the Economic Society of South Africa conference, 14 – 16 September 2021, virtually.
- Muzindutsi, P.F., Mbili S., Molefe N., Ngcobo H., & Dube, F. (2021). The JSE Size-Based Indices and Country Risk Components under Bullish and Bearish Market Conditions. Presented at: SIBR 2021 (Tokyo) Conference on Interdisciplinary Business and Economics Research, 7th-8th January 2021, Tokyo, Japan.
- Muzindutsi, P.F., Zungu, Z, Khanyile, M., Dlamini, T., Sithole, A. & Obalade, A.A. (2020) Modelling Exchange Rate Movements in South Africa: An ARDL Application. Presented at: SIBR 2020 (Kuala Lumpur) Conference on Interdisciplinary Business and Economics Research, 2nd – 3rd October 2020, Kuala Lumpur, Malaysia.
- Muzindutsi, P.F., Rajhununan, S., Dube, M., Ganie, B., Mahess, E. & Reddy D. (2020). Disaggregated Country Risk and the JSE Mining Index: An ARDL Approach. Presented at 2020 (Sydney) Conference on Interdisciplinary Business and Economics Research, 10th-11th January 2020, Sydney, Australia.
- Obalade, A.A. & Muzindutsi, P.F. (2019) Static or Adaptive? The Month-Of-The-Year and Intra-Month Effects in African Stock Markets. Presented at SIBR Hong Kong 2018 Conference on Interdisciplinary Business and Economics Research, September 28 – 29, 2019, Hong Kong.