Guide for Authors

All journal information and instructions compiled in one document (PDF) in just one mouse-click Author information pack

• Ethics in publishing
• Conflict of interest
• Submission declaration and verification
• Changes to authorship
• Copyright
• Role of the funding source
• Funding body agreements and policies
• Open access
• Language (usage and editing services)
• Submission
• Referees
• Use of the Digital Object Identifier
• Proofs
• Offprints

Ethics in publishing

For information on Ethics in publishing and Ethical guidelines for journal publication see and

Conflict of interest

All authors are requested to disclose any actual or potential conflict of interest including any financial, personal or other relationships with other people or organizations within three years of beginning the submitted work that could inappropriately influence, or be perceived to influence, their work. See also Further information and an example of a Conflict of Interest form can be found at:

Submission declaration and verification

Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis or as an electronic preprint, see, that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, it will not be published elsewhere in the same form, in English or in any other language, including electronically without the written consent of the copyright-holder. To verify originality, your article may be checked by the originality detection service CrossCheck

Changes to authorship

This policy concerns the addition, deletion, or rearrangement of author names in the authorship of accepted manuscripts:
Before the accepted manuscript is published in an online issue: Requests to add or remove an author, or to rearrange the author names, must be sent to the Journal Manager from the corresponding author of the accepted manuscript and must include: (a) the reason the name should be added or removed, or the author names rearranged and (b) written confirmation (e-mail, fax, letter) from all authors that they agree with the addition, removal or rearrangement. In the case of addition or removal of authors, this includes confirmation from the author being added or removed. Requests that are not sent by the corresponding author will be forwarded by the Journal Manager to the corresponding author, who must follow the procedure as described above. Note that: (1) Journal Managers will inform the Journal Editors of any such requests and (2) publication of the accepted manuscript in an online issue is suspended until authorship has been agreed.
After the accepted manuscript is published in an online issue: Any requests to add, delete, or rearrange author names in an article published in an online issue will follow the same policies as noted above and result in a corrigendum.


Upon acceptance of an article, authors will be asked to complete an 'Exclusive License Agreement' (for more information see Permitted third party reuse of open access articles is determined by the author's choice of user license (see

Author rights
As an author you (or your employer or institution) have certain rights to reuse your work. For more information on author rights please see

It is a condition of publication in the journal that authors assign copyright to the Africagrowth Institute. This ensures that requests from third parties to reproduce articles are handled efficiently and consistently and will also allow the article to be as widely disseminated as possible. In assigning copyright, authors may use their own material in other publications provided that the journal is acknowledged as the original place of publication.

Role of the funding source

You are requested to identify who provided financial support for the conduct of the research and/or preparation of the article and to briefly describe the role of the sponsor(s), if any, in study design; in the collection, analysis and interpretation of data; in the writing of the report; and in the decision to submit the article for publication. If the funding source(s) had no such involvement then this should be stated.

Funding body agreements and policies

Elsevier has established a number of agreements with funding bodies which allow authors to comply with their funder's open access policies. Some authors may also be reimbursed for associated publication fees. To learn more about existing agreements please visit

Open access

Every peer-reviewed research article appearing in this journal will be published open access. This means that the article is universally and freely accessible via the internet in perpetuity, in an easily readable format immediately after publication. The author does not have any publication charges for open access. The Africagrowth Institute will pay to make the article open access.
A CC user license manages the reuse of the article (see All articles will be published under the following license:

Creative Commons Attribution-NonCommercial-NoDerivs (CC BY-NC-ND)
For non-commercial purposes, lets others distribute and copy the article, and to include in a collective work (such as an anthology), as long as they credit the author(s) and provided they do not alter or modify the article.

Language (usage and editing services)

Please write your text in good English (American or British usage is accepted, but not a mixture of these). Authors who feel their English language manuscript may require editing to eliminate possible grammatical or spelling errors and to conform to correct scientific English may wish to use the English Language Editing service available from Elsevier's WebShop ( or visit our customer support site ( for more information.


Our online submission system guides you stepwise through the process of entering your article details and uploading your files. The system converts your article files to a single PDF file used in the peer-review process. Editable files (e.g., Word, LaTeX) are required to typeset your article for final publication. All correspondence, including notification of the Editor's decision and requests for revision, is sent by e-mail.


Please submit the names and institutional e-mail addresses of several potential referees. For more details, visit our Support site. Note that the editor retains the sole right to decide whether or not the suggested reviewers are used.

(1) Manuscript should be typewritten using 1.5 spacing throughout, including tables, references, and footnotes. Assemble sections in the following order
Title page (Separate Page)
Abstract (Separate Page)
Text (Including Tables & Figures)
(2) Manuscript (Microsoft Word) should be submitted to EES First time authors should register themselves as Author.
(3) The Title page should include the name(s) of the author(s), and institutional affiliation for each author. It should also include name, address, telephone number and email of the author responsible for correspondence, as well as the name, address of the author to who requests for reprints should be sent.
(4) Each article should include an Abstract of not more than 100 words, beginning on a separate page. The text should also begin on a separate page. The first numbered section should follow the Abstract of the article.
Footnotes should be kept to a minimum and placed at the bottom of the page on which they are cited. Do not number author affiliations or acknowledgements of support or assistance.
(5) Tables and Figures should be placed on the page on which it is first referred to or as close as possible to such page and should be numbered sequentially with Arabic numerals. Each should be designed to fit on a page without undue compression. Authors may use a "landscape" page setup for tables.
It should be as self-explanatory as possible, incorporating any necessary descriptive material in an unnumbered footnote.
Tables - The table number and heading are displayed above the table, in bold typed and left aligned.
Figures - All explanatory material should be included in the legend and not in the figure itself. The figure number and heading are displayed below the figure, in bold typed and left aligned.
(6) Headings are numbered and formatted as follows:
1. MAIN HEADING (bold)
1.1 Sub Heading (bold)
1.1.1 Minor Heading (italics)
(7) References: the Harvard method must be used, namely short references in the text and more detailed references arranged in alphabetical order at the end of the manuscript (follow the guidelines below).
References in the text: Omit the page numbers if the entire publication is referred to (Cane, 1980); or … according to Cane (1987b). If a quotation is cited, (Abraham, 1985: 2).
The list of references should be in unnumbered alphabetical format and should begin on a new page.
Hakansson, N. (1979): "A Characterization of Optimal Multi-period Portfolio Policies", in Portfolio Theory, 25 Years After: Essays in Honor of Harry Markowitz, eds. E. Elton and M. Gruber Amsterdam: North-Holland, pp. 169-177
Gibbons, M. R., Ross, S. A. and Shanken, J. (1989): "A Test of the Efficiency of a Given Portfolio" Econometrica, 57(4), pp.1121-1152.
Merton, R. C. (1990): Continuous-Time Finance. Cambridge: Basil Blackwell.
Norton, C. (2000): "African Capital Market: The way forward", Working Paper, the University of Cape Town, South Africa.

Reference management software
Most Elsevier journals have a standard template available in key reference management packages. This covers packages using the Citation Style Language, such as Mendeley ( and also others like EndNote ( and Reference Manager ( Using plug-ins to word processing packages which are available from the above sites, authors only need to select the appropriate journal template when preparing their article and the list of references and citations to these will be formatted according to the journal style as described in this Guide. The process of including templates in these packages is constantly ongoing. If the journal you are looking for does not have a template available yet, please see the list of sample references and citations provided in this Guide to help you format these according to the journal style.

If you manage your research with Mendeley Desktop, you can easily install the reference style for this journal by clicking the link below:
When preparing your manuscript, you will then be able to select this style using the Mendeley plug-ins for Microsoft Word or LibreOffice. For more information about the Citation Style Language, visit

Use of the Digital Object Identifier

The Digital Object Identifier (DOI) may be used to cite and link to electronic documents. The DOI consists of a unique alpha-numeric character string which is assigned to a document by the publisher upon the initial electronic publication. The assigned DOI never changes. Therefore, it is an ideal medium for citing a document, particularly 'Articles in press' because they have not yet received their full bibliographic information. Example of a correctly given DOI (in URL format; here an article in the journal Physics Letters B):
When you use a DOI to create links to documents on the web, the DOIs are guaranteed never to change.


One set of page proofs (as PDF files) will be sent by e-mail to the corresponding author (if we do not have an e-mail address then paper proofs will be sent by post) or, a link will be provided in the e-mail so that authors can download the files themselves. Elsevier now provides authors with PDF proofs which can be annotated; for this you will need to download Adobe Reader version 9 (or higher) available free from Instructions on how to annotate PDF files will accompany the proofs (also given online). The exact system requirements are given at the Adobe site:
If you do not wish to use the PDF annotations function, you may list the corrections (including replies to the Query Form) and return them to Elsevier in an e-mail. Please list your corrections quoting line number. If, for any reason, this is not possible, then mark the corrections and any other comments (including replies to the Query Form) on a printout of your proof and return by fax, or scan the pages and e-mail, or by post. Please use this proof only for checking the typesetting, editing, completeness and correctness of the text, tables and figures. Significant changes to the article as accepted for publication will only be considered at this stage with permission from the Editor. We will do everything possible to get your article published quickly and accurately. It is important to ensure that all corrections are sent back to us in one communication: please check carefully before replying, as inclusion of any subsequent corrections cannot be guaranteed. Proofreading is solely your responsibility.


The corresponding author, at no cost, will be provided with a personalized link providing 50 days free access to the final published version of the article on ScienceDirect. This link can also be used for sharing via email and social networks. For an extra charge, paper offprints can be ordered via the offprint order form which is sent once the article is accepted for publication. Both corresponding and co-authors may order offprints at any time via Elsevier's WebShop ( Authors requiring printed copies of multiple articles may use Elsevier WebShop's 'Create Your Own Book' service to collate multiple articles within a single cover (

You can track your submitted article at You can track your accepted article at You are also welcome to contact Customer Support via