id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
ajeer-7479	Akala, Imanou; Pozniak, Laetitia	Access to stock markets impact on SMEs performance	2025	11	.pdf	application/pdf	7592	388	48	W statistics P-value CI Listed SMEs solvency (x) 0.92 0.334 95% Unlisted SMEs solvency (x) 0.076706* 0.005759* 95% Listed SMEs liquidity (x) 0.909 0.274 95% Unlisted SMEs liquidity (x) 0.969 0.879 95% Listed SMEs profit margin % 0.9278 0.466 95% Unlisted SMEs profit margin % 0.969 0.879 95% Listed SMEs ROA % 0.875 0.141 95% Unlisted SMEs ROA % 0.939 0.537 95% Listed SMEs ROE % 0.951 0.683 95% Unlisted SMEs ROE % 0.858 0.072 95% Table 7 presents the solvency, liquidity, profit margin, ROA, and ROE Shapiro-Wilk test results for listed and unlisted SMEs. The literature has shown that as they gain from long-term financing, listed SMEs would expand and surpass unlisted SMEs, which are left behind (Sommer, 2024) which is consistent with the signalling theory, enterprises IPO decision is not merely only a means of accessing external finance but also a strategic signalling mechanism to reduce information asymmetry and attract external stakeholders (Leland & Pyle, 1977).	cache/ajeer-7479.pdf	txt/ajeer-7479.txt