Perceived Risk and Listing of Manager’s Firms: an Application in Cameroon

Cameroon’s financial market is the main platform for securities exchange in central Africa. Thus, it represents an interesting environment that needs to be investigated, the dynamism of which calls for a certain curiosity as it is an environment marked by banks over liquidity, credit rationing to enterprises that yield to difficulties in subsidising the latter on the long term. Despite of its potential and the rights of all sorts vested in the enterprises of the financial market, we notice that Cameroonian managers of enterprises are unable to seize the opportunities offered to them through this financial disintermediation system.This study dwells on the understanding of the stock exchange phenomenon in Cameroon, especially as a descriptive factor of the sto ck exchange intention of the manager’s firms. In this context, the paper aims at determining to what extent perceived risk of manager can account for their attitudes about financials choices. To achieve this objective, a survey has been conducted by means of direct interviews with 97 managers. The results show a close relationship between perceived risk and decision of initial public offering. Keys words: Perceived risk, financial market, initial public offering, manager, firm