Efficient Market Hypothesis and the Nigerian Capital Market: Examination of the Nigerian Stock Market for Market Efficiency,Used

Efficient Market Hypothesis and the Nigerian Capital Market: Examination of the Nigerian Stock Market for Market Efficiency,Used

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SKU: DADAX384843248X
Brand: LAP Lambert Academic Publishing
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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 twentyfive 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.

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