1887

n African Finance Journal - Testing the weak-form market efficiency and the day of the week effects of some African countries

USD

 

Abstract

The aims of this work are twofold. On the one hand, it aims to find evidence supporting the presence of the weak form efficiency of several emerging African stock markets by using both parametric as well as non parametric tests. The results indicate that none of the markets are characterised by random walks with the exception of the South African stock market. On the other hand, this study aims to detect the presence of the day of the week effects of these African stock markets. Results show the existence of day of the week effects, that is, the typical negative Monday and Friday positive effects in several stock markets.

Loading

Article metrics loading...

/content/finj/2010/si-1/EJC33729
2010-01-01
2016-12-05
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error