Senbet, L. W., & Gande, A. (2009). Financial Crisis and Stock Markets: Issues, Impacts and Policies. In Annual Conference of the Dubai Economic Council Financial Crisis, Its Causes, Implications, and Policy Responses.

has been cited by the following article:

• TITLE: Development of Cost of Debt and Risk Formula for a Period of Financial Turbulence Focus: The Cost of Global Financial Crisis

  AUTHORS: Keabetswe Ramantshane

  KEYWORDS: Cost, Financial Turbulence, Financial Crisis, Volatile, Financial Risk, Capitalism, Liquidation, Investors, Small Businesses, Commercial Banks, Mortgage Bonds, Stock Markets, Return on Investment, Return on Equity

  JOURNAL NAME: Technology and Investment, Vol.14 No.2, May 23, 2023

  ABSTRACT: Financial institutions specifically banks and small businesses have encountered difficulty in sustaining their ability to remain stable during the financial crisis. During this period most scholars addressed the cause and risk of financial turbulence but very few studies identified the cost of debt and risk of financial turbulence. The objective of this study is to enhance the Mahalanobis model to include the measurements of cost of debt when measuring financial turbulence which essentially has an impact on the stock market. The data collected in respect of the South African Reserve Bank (SARB) and Statistics South Africa (SAS) identifies the correlation of financial turbulence in banks as well as small businesses and analyses and interprets the relationship between total liquidation of companies and total assets of banks. Although different countries had different industries contributing to the financial crisis, this study is not industry based.