JAFS_Vol 08 N 01
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JAFS_Vol 08 N 01
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Browsing JAFS_Vol 08 N 01 by Author "عزري حميد"
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Item اختبار كفاءة أسواق رأس المال في إفريقيا عند المستوى الضعيف– دراسة حالة مصر، نيجيريا وجنوب إفريقيا خلال الفترة 2015-2023(جامعة الوادي University of Eloued, 2024-06) عزري حميدThis study aimed to test the efficiency of the most important stock exchanges in Africa, mainly represented in Egypt, Nigeria and South Africa, at the weak level during the period 2015-2023. The study samples represented daily historical data for the closing prices of the Egyptian Capital Market Index EGX30, the main index of the Nigerian Capital Market, NSE, and the main index for the capital market in South Africa, JSE. To answer the study’s problem, the normal distribution test, the unit root, and autocorrelation of returns were used, in addition to the BDS test and the variance ratio. This study concluded that the capital markets in Egypt, Nigeria, and South Africa do not follow the Natural distribution, random run, and therefore they are inefficient at the weak level during the study period.