International Journal of Business and Applied Social Science

ISSN: 2469-6501 (Online)

DOI: 10.33642/ijbass
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  • Call for Papers: VOL: 5, ISSUE: 12, Submission Deadline December 31, 2019

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VOLUME: 5; ISSUE: 11; NOVEMBER 2019

Table of Contents

Articles

Author(s): Brinwa Kra, Xing Lu, Haiyan Yin

Abstract:
This study investigates daily stock market anomalies in the African stock markets, using two most representative stock index ETFs, each over at least eleven-year time period spanning from pre-financial crisis era to ten years into the financial crisis. This research attempts to test the presence of the weekend effect on stock returns in the African stock exchanges during the financial crisis. The results indicate a significant negative effect on Mondays. Our results shed some light on the degree of market efficiency in one of the major emerging capital markets in the world.
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