Market efficiency testing on JSE ALT-X : the effect of 2009 recession

Vatiswa Mlonzi

ISBN 10: 3639370449 / ISBN 13: 9783639370447

Published by VDM Verlag Dr. Müller, 2011

About this Item

nach der Bestellung gedruckt Neuware - Printed after ordering - This book provides evidence of stock market reaction to earnings announcement during a recessionary period of the business cycle, provides evidence of the earnings' informativeness and provide evidence with regard to capital market efficiency of the Johannesburg Stock Exchange (JSE) ALT-X stock market. Empirical evidence demonstrates that there is substantial negative share price reaction to earnings announcements on the ALT-X stock market. The study in this book indicated that the information content of earnings is quite noticeable; however, during the event window chosen there was a constant stream of information, and no price recovery was observed in this study. The JSE ALT-X also shows the weak form of market efficiency. The research findings on which this book is based on have practical implications for investors, practitioners and academics alike. The findings shed light on the behaviour of a small ALT-X stock market in relation to finance theory.

Seller Inventory # 9783639370447

Bibliographic Details

• Title: Market efficiency testing on JSE ALT-X : the effect of 2009 recession
• Publisher: VDM Verlag Dr. Müller
• Publication Date: 2011
• Language: English
• ISBN 10: 3639370449
• ISBN 13: 9783639370447
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 22W x 15H x 0.7D centimeters 22 centimeters width by 15 centimeters height by 0.7 centimeters depth
• Weight: 195 grams

About this title

Synopsis

This book provides evidence of stock market reaction to earnings announcement during a recessionary period of the business cycle, provides evidence of the earnings' informativeness and provide evidence with regard to capital market efficiency of the Johannesburg Stock Exchange (JSE) ALT-X stock market. Empirical evidence demonstrates that there is substantial negative share price reaction to earnings announcements on the ALT-X stock market. The study in this book indicated that the information content of earnings is quite noticeable; however, during the event window chosen there was a constant stream of information, and no price recovery was observed in this study. The JSE ALT-X also shows the weak form of market efficiency. The research findings on which this book is based on have practical implications for investors, practitioners and academics alike. The findings shed light on the behaviour of a small ALT-X stock market in relation to finance theory.

About the Author

Vatiswa Mlonzi is a Human Resources Practitioner, the founder and Director of Lumengo Services, a talent management company. She was a team Leader of Women In Aviation a South African Airways initiative. Meiya Nthoesane is a leadership & coaching executive, the founder of MBS Leadership Coaching Academy, and a fellow of Ford Foundation