Title: THE EFFICIENCY OF PRICE DISCOVERY IN THE STOCK MARKET AND MACROECONOMIC VARIABLES
Abstract: The question of price discovery in asset markets in the western countries has been addressed in several studies. This study focuses on an emerging stock market because of the peculiar characteristics of stock markets in developing countries. Stock markets in developing countries are thin, they lack breadth and are shallow in terms of depth. The Nigerian Stock Exchange (NSE) possesses many characteristics common to emerging stock exchanges of the world. This study tests the efficiency of price discovery on the Nigerian stock market, and indirectly explores the question of whether or not the Nigerian stock market is rational.
Publication Year: 2016
Publication Date: 2016-01-01
Language: en
Type: article
Access and Citation
Cited By Count: 1
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot