Chimwemwe Chipeta, PhD

Chimwemwe is a full professor of corporate finance, head of the finance division, and director of the Wits Fintech Hub in the School of Economics and Finance at the University of the Witwatersrand. He holds a PhD in Financial Management Sciences from the University of Pretoria and has 15 years of teaching and research experience in corporate finance and investments. Previously, he served as the Bank of Zambia Chair in Banking and Finance at Mulungushi University and later as a Visiting Scholar at the J. Mack Robinson College of Business at Georgia State University in the US. His research interests mainly focus on corporate finance, financial innovations (Fintech), and investments. Chimwemwe is NRF-rated (C2) and has published numerous papers in the field of finance and investments in high-impact journals such as Finance Research Letters, Emerging Markets Review, Journal of International Financial Markets, Institutions and Money, Research in International Business and Finance, and Investment Analysts Journal. He is the recipient of several awards, including the Research Excellence Award, and has received several externally funded grants. Chimwemwe has presented his research findings at numerous national and international conferences. Within the school, he has held leadership roles, including Research Coordinator and Chair of the SEBS Finance and Research Committees. He was the lead organizer and host of the SEBS Annual Postgraduate Conference. Chimwemwe has several years of practical experience in areas relating to degree program development, executive education, business plan development, and digital asset investments.

• National Research Foundation C2 Rating (2022)
• Recipient of the Research Excellence Award for the most cited researcher in the Faculty of Commerce, Law, and Management for an article published in 2018 (December 2019).
• National Research Foundation Y2 Rating (2016)
• Identified as one of the top 20 emerging researchers, University of the Witwatersrand (August 2013)

01/07/2008-30/06/2010: Senior Member of the Academy of World Business, Marketing Management and Development.

Accredited / Peer reviewed publications:

· Madera, L., & 12(10):1157–1174., C, (2023). Managerial Confidence and Capital Structure Announcement Effects on Share Prices on the JSE. South African Journal of Economic and Management Sciences. Forthcoming.

· Machokoto, C., Chipeta, C., & Ibeji, N, (2021). Institutional determinants of peer effects on cash holdings. Journal of International Financial Markets, Institutions and Money. 73 (July):1-31.  https://doi.org/10.1016/j.intfin.2021.101378. 2020 Web of Science JCR Impact Factor: 4.2. ABDC Rating: A

· Machokoto, C., Chipeta, C., Aftab, N., & Areneke, G. (2021). The financial conservatism of firms in emerging economies. Research in International Business and Finance. https://doi.org/10.1016/j.ribaf.2021.101483.  2020 Web of Science JCR Impact Factor: 4.0. ABDC Rating: B

· Chipeta, C., Aftab, N., & Machokoto, M. (2021). The implications of financial conservatism for African firms. Finance Research Letters. 42 (October):1-9. https://doi.org/10.1016/j.frl.2021.101926.  2020 Web of Science JCR Impact Factor: 5.6 ABDC Rating: A

· Machokoto, C., Chipeta, C., & Ibeji, N, (2020). Investment-cash flow sensitivity around the crisis: are African firms different? International Journal of Managerial Finance. 17(5): 733-756. https://doi.org/10.1108/IJMF-04-2020-0162. 2021 Scopus Cite Score: 3.1. ABDC Rating: A 

· Nkiwane, P., & Chipeta, C. (2020). Financial slack, method of payment and acquirer performance: The case of cross-border acquisitions into Africa. Investment Analysts Journal. 49 (2) 92-104. https://doi.org/10.1080/10293523.2020.1755817. 2020 Web of Science JCR Impact Factor: 0.897. ABDC Rating: B.

· Chipeta, C., & Nkiwane, P. (2019). The performance of cross border mergers and acquisitions into Africa. Emerging Markets Review. 39 (June 2019): 68-82. https://doi.org/10.1016/j.ememar.2019.03.004. 2020 Web of Science JCR Impact Factor: 4.0. ABDC Rating: A.

· Chipeta, C., & Muthinja, M. (2018). Financial innovations and bank performance in Kenya: Evidence from branchless banking models. South African Journal of Economic and Management Sciences. 21(1): 1-11. http://dx.doi.org/10.4102/sajems.v21i1.1681. 2020 Web of Science JCR Impact Factor: 0.99. ABDC Rating: B.

· Chipeta, C., & Muthinja, M. (2018). Financial innovation, firm performance and speeds of adjustment: New evidence from Kenya’s banking sector. Journal of Economic and Financial Sciences. 11(1): 1-11. http://dx.doi.org/10.4102/jef.v11i1.158.  

· Chipeta, C., & McClelland, D.E. (2018). In search of conclusive evidence on the trade off and pecking order theories of capital structure: Evidence from the Johannesburg Stock Exchange. Investment Analysts Journal. https://doi.org/10.1080/10293523.2017.1412608. 2020 Web of Science JCR Impact Factor: 0.897. ABDC Rating: B.

· Muthinja, M., & Chipeta, C. (2017). What drives financial innovations in Kenya’s commercial banks? An empirical study on firm and macro level drivers of branchless banking. Journal of African Business. https://doi.org/10.1080/15228916.2017.1405705. 2020 SJR Impact Factor: 1.18. ABDC Rating: C.

· Chipeta, C., & Deressa, C. (2016). Firm and country specific determinants of capital structure in Sub Saharan Africa. International Journal of Emerging Markets. 11(4): 649-673. 2021 Web of Science JCR Impact Factor: 2.5. ABDC Rating: B.

· Chipeta, C., & Deressa, C. (2016). The asymmetric effects of financing deficits and surpluses on the pecking order in Sub Saharan Africa. Investment Analysts Journal. 45(2): 81-94. 2020 Web of Science JCR Impact Factor: 0.897. ABDC Rating: B.

· Chipeta, C., & Deressa, C. (2016). Financial Reforms and firm performance on the JSE. Studies in Economics and Econometrics. 40 (1): 71-93. 2020 CiteScore: 0.4

· Chipeta, C. (2016). Post IPO dynamics of capital structure on the JSE. South African Journal of Business Management. 47(2):1-9. Web of Science JCR Impact Factor: 0.55. ABDC Rating: C.

· Szczygielski, J.J., & Chipeta, C. (2015). Risk factors in returns of the South African stock market. Studies in Economics and Econometrics. 39(1):47-70. 2020 CiteScore: 0.4

· Auret, C.J., Chipeta, C. & Krishna, S. (2013). Financial constraints and capital structure dynamics over the business cycle. Some evidence from the JSE. Studies in Economics and Econometrics. 37(1):1-30. 2020 CiteScore: 0.4

· Chipeta, C., Wolmarans, H.P. Vermaak, F.N.S. & Proudfoot, S. (2013) Structural breaks in the determinants of capital structure. Meditari Accountancy Research. 21(1): 1-15. 2020 Scopus Citescore: 4.13. ABDC Rating: A.

· Chipeta, C., & Mbululu, D. (2013) Firm heterogeneity, macroeconomic conditions and capital structure adjustment speeds. Investment Analysts Journal, 42(77): 67-79. 2020 Web of Science JCR Impact Factor: 0.897. ABDC Rating: B.

· Gladysek, O., & Chipeta, C. (2012). The impact of Socially Responsible investment index constituent announcements on firm price: evidence from the JSE. South African Journal of Economic and Management Sciences. 15(4): 1-11. 2020 Web of Science JCR Impact factor: 0.99. ABDC Rating: C.

· Chipeta, C., Wolmarans, H.P. & Vermaak, F.N.S. (2012). Financial liberalization and the dynamics of firm leverage in a transitional economy. Evidence from the JSE. South African Journal of Economic and Management Sciences. 15(2):171-189. 2020 Web of Science Impact factor: 0.99. ABDC Rating: C.

· Chipeta, C., & Mbululu, D. (2012). The effects of the National Credit Act and the global financial crisis on domestic credit extension: Empirical evidence from South Africa. Journal of Economic and Financial Sciences. 5(1):215-228. Impact factor: None

· Mbululu, D., & Chipeta, C. (2012). Day of the week effects on the JSE. Investment Analysts Journal. 75: 55-65. 2020 Web of Science JCR Impact Factor: 0.897. ABDC Rating: B.

· Chipeta, C., & Vokwana, T.C.Z. (2011): The impact of black economic empowerment transactions on shareholder wealth and firm profitability. African Finance Journal, 13 (Si-1): 71-91. 

Accredited Book Chapters:

· Kuttu, S., Coffie, W., Chipeta, C., & Afedzie, E. (2022).  Foreign direct investment, stock market development, and inclusive growth in selected sub-Saharan African countries. The Economics of Banking and Finance in Africa: Developments in Africa’s financial systems. Economics of Banking and Finance in Africa, Springer, pp 987–1012.

Non-Accredited Journal Articles (Accredited at time of Publication)

· Chipeta, C., & Jardine, A. (2014). A review of the determinants of operating and financial performance of Initial Public Offerings on the JSE. International Business and Economics Research Journal. 12(10):1161-1176. Impact Factor: None

· Kalidas, S. Mbululu, D., & Chipeta, C. (2013). Changing patterns in the day-of-the-week effects in African Stock markets, International Business and Economics Research Journal. 12(10):1157-1174 Impact Factor: None

 Chipeta, C., Wolmarans, H.P., & Vermaak, F.N.S. (2011). Impact of Financial Liberalization on Capital structure: Evidence from the JSEStructure African Journal of Business Management, 6(5): 1984–1998. Impact factor: None

Other Conference Papers/Proceedings:

 Mapela, L., & Chipeta, C. (2023). Managerial Confidence and Capital Structure Announcement Effects on Share Prices on the JSE Paperpresented at the Southern African Finance Association Conference. January      2023, Cape Town, South Africa

• Szczygielski, J.J., & Chipeta, C. (2019). ‘An investigation into the properties of returns and variance and the implications for time series modelling on the JSE’ Paper presented at the Southern African Finance Association Conference. January 2020, Cape Town, South Africa.
• Nkiwane, P. & Chipeta, C. (2018). ‘Capital Structure, Method of Payment and Acquiring Firm Performance: The case of Cross Border Acquisitions into Africa.’ Paper presented at the Academic International Conference on Business, Economics and Management, 25 September 2018, Boston, USA.
• Chipeta, C. & Nkiwane, P. (2018). ‘Do Cross Border Acquisitions into Africa Add Value?’ Paper presented at the International Conference on Business, 8 April 2018 Washington DC, USA.
• Chipeta, C. & McClelland, D.E. (2017). ‘Trade off versus pecking order theories of capital structure on the JSE’. Paper presented at the International Academic Conference on Business, 1 August 2017 New York, USA.
• Chipeta, C. (2016). ‘Testing the trade off against the pecking order theory of capital structure on the JSE’. Paper presented at the International Conference on Business, 3 October 2016, Las Vegas, USA.
• Chipeta, C. (2016). ‘Financial markets development, the rule of law and capital structure in Sub Saharan Africa’. Paper presented at the Southern African Finance Association Conference, 13 January 2016, Cape Town, South Africa.
• Muthinja, M., & Chipeta, C. (2015). ‘Mobile phone payments and the creative destruction of traditional electronic payment systems: Evidence from Kenya’s network externalities’. Paper presented at the International Conference on Banking and Financial Services, 30 September 2015, Port Elizabeth, South Africa.
• Chipeta, C. (2015). ‘Post IPO Dynamics of Capital structure on the JSE’. Paper presented at the International Conference on Business, Tourism and Social Sciences Conference, 9 June 2015, Harvard University, Boston, Massachusetts. United States of America.
• Krishna, S., Chipeta, C., & Auret, C.J. (2013). ‘Modelling capital structure adjustment speeds across macroeconomic states ' Paper presented at the ISBSS Conference, 17 March 2013, Tokyo, Japan.
• Chipeta, C. (2012). 'What determines the speed of adjustment towards the target capital structure?' Paper presented at the 9th African Finance Journal Conference, 20 April 2012, Nairobi, Kenya.
• Chipeta, C. (2012). 'A target adjustment model of capital structure in an emerging economy.' Paper presented at the ICAST 2012 Conference, 3-5 March 2012, Penang, Malaysia.
• Chipeta, C. (2011). 'The dynamics of firm leverage in a transitional economy.' Paper presented at the 8th African Finance Journal Conference, 14 April 2011, Windhoek, Namibia.
• Chipeta, C. (2011). 'Financial liberalization and capital structure: Evidence from the JSE'. Paper presented at the 20th Southern African Finance Association Conference, 14 January 2011, Cape Town. South Africa
• Chipeta, C. & Vokwana, T.C.Z. (2010): 'BEE deals. Firm and shareholder wealth effects.' A paper presented at the 7th African Finance Journal Conference, 18 March 2010, Cape Town, South Africa.
• Chipeta, C. (2009). 'Financial liberalization and capital structure: Evidence from the JSE.' Paper presented at the 6th African Finance Journal Conference, 19 July 2009, Cape Town, South Africa.
• Chipeta, C. (2008): 'The equity analysis scorecard: a balanced scorecard approach to equity research.' Paper presented at the Academy for World Business, Marketing and Management Development, 17 July 2008, Rio De Janeiro, Brazil
• Chipeta, C. (2008): 'Corporate governance mechanisms and disclosure requirements to attract foreign investment: A case for Malawi'. Paper presented at the 5th African Finance Journal Conference, 11 July 2008, Cape Town, South Africa.
• Chipeta, C. (2007): 'A preliminary investigation of the implication of the new National Credit Act on consumer credit extension: A South African Banking Perspective'. Paper presented at the International Banking Conference, 10 October 2007, Sun City, South Africa.
• Chipeta, C. & Van Wyk, H. (2007). 'An investigation into the adequacy of funding for post-secondary education: A case for Rehoboth, Namibia.' Paper presented at the South African Institute for Management Scientists Conference, 20 September 2007, Johannesburg, South Africa.

· Member of Senate Committee, [University of the Witwatersrand]: (2022 to date)

· Member of Faculty Board, [University of the Witwatersrand]: (2020 to date)

· Member of Advisory Committee for the Department of Finance, Risk Management and Banking, [University of South Africa]: (2013-2017).

· Member of SEBS Senior Advisory Committee, [University of the Witwatersrand]: (2012-2013).

· Member of SEBS Finance Committee, [University of the Witwatersrand]: (2012-2013).

· Member of SEBS NRF Rated Researchers Committee, [University of the Witwatersrand]: (2016-2018).

· Member of SEBS postgraduate Committee, [University of the Witwatersrand]: (2012-2019).

· Member of the Faculty Staffing and Promotions Committee, [University of the Witwatersrand]: (2014, 2016-2018).

· Member of the Faculty Graduate Studies Committees, [University of the Witwatersrand]: (2013-2014).

· Member of the Faculty Board [University of the Witwatersrand]: (2016, 2020 to date).

· Member of the SEBS Postgraduate Committee, [University of the Witwatersrand]: (2012-2014).

· Chair of the SEBS Research Committee, [University of the Witwatersrand]: (2016-2019).

· Chair of the SEBS Postgraduate Conference, [University of the Witwatersrand]: (2012-2019).

· Member of the Faculty Research Committee, [University of the Witwatersrand]: (2016-2019).

· Member of SEF Workload Committee, [University of the Witwatersrand]: (2020).

· Member of the SEF Research Committee, [University of the Witwatersrand]: (2020 to Date).

· Member of SEF Executive Committee: (2020 to Date).

· Member of SEBS Executive Committee: (2016 to 2019).

· Member of SEF Fund Raising Committee: (2020 to Date).

·

· An international Study on the curtailment of Corporate Investments around the Globe: Kozminski University Seminar, 28 November 2022.

· Guest speaker at University of Pretoria Department of Financial Management Research Seminar, 29

March 2017.

· Business Investments: Zambian National Teachers Union, Lusaka, Zambia, 12 January 2017

· Leveraging Mobile Technologies for Financial Inclusion: Mulungushi University, December 2015.

· Emerging Trends in Corporate Finance Research: University of South Africa, September 2013.

External Examiner: Degrees and courses

PhD Theses: 

· Y.O. Uwakata, Intra-African trade, investment and economic growth: the role of multilateral agreement, 2021, University of South Africa.

· A.M. Lipunga, Institutional model for public hospitals’ organisational governance reforms in Malawi, 2021, University of Malawi.

· F.E. Toerien, The value relevance of derivatives for South African listed companies, 2020, University of Pretoria.

· M. Sipuka, Re-industrialisation of the Nelson Mandela Bay regional economy, 2020, Nelson Mandela University.

· F. Marimuthu, Capital structure and financial performance of South African state-owned entities, 2019, University of KwaZulu Natal.

· Nsama Njebele, Analysis of factors that influence stock returns: a test of the Fama and French five factor model at the Lusaka Securities Exchange, 2019, The Copperbelt University.

· N.F. Munzhelele, Distribution policy and creation of shareholders’ wealth: a study of firms listed on the JSE, 2019, University of Pretoria.

· S.J. Ferreira, Reputational risk: depositor behaviour in South Africa, 2018, North West University.

· G. Amewu, Effects of executive compensation on firm risk and performance after successful mergers and acquisitions deals, 2018, University of the Witwatersrand Business School.

· A. Sibindi, Determinants of capital structure: an empirical study of South African financial firms, 2017,  University of South Africa.

· F. van der Colff: An artificial intelligence model to predict financial distress in companies listed on the JSE, 2017, University of Pretoria.

· S.W. Sabela, A three factor approach to determine financial distress of companies listed on the Johannesburg Stock Exchange, 2016, University of Pretoria.

· G. Boako, Studies on African equity markets and global shocks: co-movement, contagion, and diversification, 2016, University of the Witwatersrand.

· O.O. Luther, The relationship between capital structure, performance and replacement of CEO in firms listed on the Nairobi Securities Exchange, 2015, University of South Africa.

Masters Courses and Programmes

· External Examiner for MBA and MBL Finance programmes for the UNISA Graduate School of Business Leadership: 2018 to date.

· External examiner for the University of South Africa’s second year courses on Financial

Management: 2015.

· External examiner for the University of Kwa Zulu Natal Honours in Corporate Finance: 2014

· External examiner for the Development Finance Programme at Nelson Mandela Metropolitan

University: 2012.

Journal Editor and Referee activities:

I have reviewed for the following journals:

·  Finance Research Letters (IF=5.6)

·  International Journal of Emerging Markets (IF=2.5)

·  Investment Analysts Journal (IF=0.897),

·  Meditari Accountancy Research (IF=0.09).

·  South African Journal of Economics (IF=1.035),

·  South African Journal of Economic and Management Sciences (IF=0.9)

·  Studies in Economics and Econometrics (IF=None)

·  Southern African Business Review (IF=None)

Reviewer:

· National Research Foundation: Reviewer of candidate profile for NRF Rating Applications: 2021.

· James Hope University: Assessment of publications for promotions/appointments to Professorial positions: 2021.

· University of the Witwatersrand Business School: Assessment of publications for promotions/appointments to Professorial positions: 2018.

· University of KwaZulu Natal: Assessment of publications for promotions/appointments to Professorial positions: 2018.

· Midland State University: Assessment of publications for promotions/appointments to Professorial positions: 2018.

· Reviewer for Masters and PhD Colloquium for the Department of Business Management: (2016-2017).

· NRF Rating: C2: 2022-2027

· NRF Rating: Y2: 2016-2021

· Google Scholar H Index: 12 (03/03/2023)

· Total Citations: 510 (03/03/2023)

· Scopus H index: 6 (13/03/2022)

Recipient of:

· National Research Foundation Incentive Funding for C2 Rating: R30 000 (January 2022)

· University Research Committee Award for Minor Equipment: R143 000 (2020)

· Oppenheimer Memorial Trust Sabbatical Grant of R115 000 (July 2019)

· National Research Foundation Incentive Funding for Y2 Rating: R40 000 per Annum (2016 to 2017) and R20 000 per annum (2018 to 2021) 

· School Research Development Grant: R50 000 (2016)

· Andersen Capelli Grant: R45 000 (October 2014)