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首页> 外文期刊>Journal of African Business >Weak-Form Market Efficiency of the Nigerian Stock Market in the Context of Financial Reforms and Global Financial Crises
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Weak-Form Market Efficiency of the Nigerian Stock Market in the Context of Financial Reforms and Global Financial Crises

机译：金融改革和全球金融危机下的尼日利亚股票市场弱势市场效率

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摘要

The weak-form efficient market hypothesis for the Nigerian Stock Market (NSM) is explored using different statistical tests. The analyses use overall stock market returns collected over the period 2000-2010. It is shown that the NSM is not weak-form efficient which questions the benefits of the 2004 financial reforms. It is also shown that the degree of market inefficiency varies across the periods corresponding to the financial reforms and 2007 global financial crisis, for daily and monthly returns. The results are important to security analysts, investors, and security exchange regulatory agencies in their investment, stock market development, and policy-making decisions.View full textDownload full textKey wordsfinancial reforms, global financial crisis, market efficiency, NSM, political economy, stock market characterization, stock market developmentRelated var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/15228916.2012.727750
机译：使用不同的统计检验探索了尼日利亚股票市场（NSM）的弱形式有效市场假说。该分析使用了2000年至2010年期间收集的总体股票市场收益。结果表明，国家安全管理机制不是弱形式的，这质疑了2004年金融改革的好处。研究还表明，在与金融改革和2007年全球金融危机相对应的时期内，市场效率低下的程度在日收益率和月收益率方面均存在差异。这些结果对于安全分析师，投资者和证券交易所监管机构的投资，股票市场发展和决策制定至关重要。查看全文下载全文关键词金融改革，全球金融危机，市场效率，NSM，政治经济，股票市场特征，股市发展相关var addthis_config = {ui_cobrand：“泰勒和弗朗西斯在线”，servicescompact：“ citeulike，netvibes，twitter，technorati，delicious，linkedin，facebook，stumbleupon，digg，google，更多”，发布：“ ra- 4dff56cd6bb1830b“};添加到候选列表链接永久链接http://dx.doi.org/10.1080/15228916.2012.727750

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