Date Added: Feb 2010
This paper analyzes the finances of Egypt's listed firms and the performance of the Egyptian stock exchange during the period 2003-07/08. Egyptian companies can be clearly divided into a top tier and a second tier. Egypt's top tier of listed firms tends to finance themselves mainly from operating cash flows, trade credits, and other short-term borrowing. This raises questions as to whether recent performance could have been even better had these firms done more in the way of long-term financing and long-term investment.