Efficient Market Hypothesis And The Nigerian Capital Market
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Efficient Market Hypothesis And The Nigerian Capital Market
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Author : Henry Inegbedion
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2012-03
Efficient Market Hypothesis And The Nigerian Capital Market written by Henry Inegbedion and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-03 with categories.
In the wake of the deregulation of the financial sector in Nigeria, following the enthronement of democratic governance, several policies were put in place to stimulate capital market activities. The series of policies, especially the twenty-five Billion Naira capitalization of Banks, led to unprecedented increase in trading on the floor the Nigerian Stock exchange. The perceived rapid returns to investors were suggestive of a speculative market and thus made the market very attractive. Although the studies conducted before this period indicated that the Nigerian Capital Market was efficient in the weak form, there was need for a robust replication of earlier studies to determine the extent to which such claims still held sway against the backdrop of persistent bullish runs; this is what this study sought to achieve. Results of this study showed that the Nigerian capital market is efficient in the weak form; thus showing consistency with most previous studies. It is thus reasonable to conclude that investors in the Nigerian Stock Exchange are assured of fair returns to their investment.
The Capital Market
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Author : Bob. Es Osaze
language : en
Publisher:
Release Date : 1991
The Capital Market written by Bob. Es Osaze and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with Capital market categories.
Efficient Market Hypothesis
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Author : Echekoba Felix Nwaolisa
language : en
Publisher:
Release Date : 2012
Efficient Market Hypothesis written by Echekoba Felix Nwaolisa and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012 with categories.
The Nigerian Capital Market In The African And Global Financial System
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Author : Bob. Es Osaze
language : en
Publisher:
Release Date : 2000
The Nigerian Capital Market In The African And Global Financial System written by Bob. Es Osaze and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Capital market categories.
Equity Financing Of Firms
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Author : Charles Ikechukwu Anaere
language : en
Publisher:
Release Date : 1998
Equity Financing Of Firms written by Charles Ikechukwu Anaere and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with Business enterprises categories.
The Efficient Market Hypothesis
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Author : Johan Svendsen (économiste.)
language : en
Publisher:
Release Date : 1996
The Efficient Market Hypothesis written by Johan Svendsen (économiste.) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with categories.
Empirical Test For Weak Form Efficient Market Hypothesis Of The Nigerian Stock Exchange
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Author : Kalu O. Emenike
language : en
Publisher:
Release Date : 2010
Empirical Test For Weak Form Efficient Market Hypothesis Of The Nigerian Stock Exchange written by Kalu O. Emenike and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
In recent years, the Nigerian Stock Exchange (NSE) has witnessed an unprecedented growth in market capitalization, membership, value and volume traded. By December 2007, the All Share Index has grown massively to 57,990.2 from 1113.4 in January 1993. This rising interest in investment opportunities in the NSE raises questions about its efficiency. This paper, therefore, tests the Weak-form Efficient Market Hypothesis of the NSE by hypothesizing Normal distribution and Random walk of the return series. Monthly All Share Index of the NSE is examined from January 1993 to December 2007. Our Normality tests include Skewness, kurtosis, Jarque-Bera and Studentized Range tests; whereas Random walk is tested using the non-parametric Runs test. Results of the Normality tests show that returns from NSE do not follow normal distribution. Runs test results reject the randomness of the return series of the NSE. Overall results from the tests suggest that the NSE is not weak form efficient. Reduction of transaction cost so as to improve market activities and Minimizing institutional restrictions on trading of securities in the bourse were therefore recommended.
Capital Market Dynamics In Nigeria
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Author :
language : en
Publisher:
Release Date : 2007
Capital Market Dynamics In Nigeria written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Capital gains categories.
The Efficient Market Hypothesis And Its Validity In Today S Markets
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Author : Stefan Palan
language : en
Publisher: GRIN Verlag
Release Date : 2004-12-21
The Efficient Market Hypothesis And Its Validity In Today S Markets written by Stefan Palan and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-12-21 with Business & Economics categories.
Thesis (M.A.) from the year 2004 in the subject Business economics - Investment and Finance, grade: 1 (A), University of Graz (Institute für Industrial Economics), language: English, abstract: This Master Thesis gives an overview of the research into the efficient market hypothesis from its first days in the 1950s to the present. The discussion of theoretical models and concepts is being complemented by a review of relevant empirical evidence from international capital markets. The thesis is completed by a brief outlook on newer research venues, including models employing behavioural finance approaches.
Weak Form Efficient Market Hypothesis
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Author : Emenike Kalu O.
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2013
Weak Form Efficient Market Hypothesis written by Emenike Kalu O. and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
In recent years, the Nigerian Stock Exchange (NSE) witnessed an unprecedented growth in market capitalization, membership, value and volume traded. By December 2007, the All-Share Index has grown massively to 57,990 from 1,113 in January 1993. This rising interest in investment opportunities in the NSE raises questions about its efficiency. Why do we care if a stock market is efficient or not? The stock market acts an intermediary and channels funds from savers to firms for investment purposes. An efficient stock market is a 'well-functioning' market, where prices of stocks represent their fair value. This book examines the efficiency of the NSE using a scientific method that can be replicated by stakeholders of stock market such as investors, investment analysts, fund managers, regulators, and students of the stock markets.