Efficiency of the Nigerian Capital Market: Implications for Investment Analysis and Performance

Sunday Eneojo Samuel () and Richard Uzoefuna Oka ()
Additional contact information
Sunday Eneojo Samuel: Department Of Accounting, Kogi State University, Anyigba, Nigeria
Richard Uzoefuna Oka: Department Of Accounting, Kogi State University, Anyigba, Nigeria

Transnational Corporations Review, 2010, vol. 2, issue 1, 42-51

Abstract: This paper appraises the nature and efficiency of the Nigerian capital market and its implications for investment analysis and performance. It examines the implications of the efficient-market hypothesis and types and levels of market efficiency. Data was collected using a survey questionnaire. A multi-stage and random sampling technique was used to select a sample including four categories of people and firms relevant to the study. Data were analyzed using a Likert scale and descriptive statistics. The null hypothesis was analyzed using a five-point Likert scale with a 5% error term, and the study found that information has contributed to the efficiency of the Nigerian capital market to a great extent. It is therefore suggested that the Nigerian Stock Exchange and the Nigeria Securities and Exchange Commission should be more purposeful and aggressive in educating and enlightening the investing public on the workings and technicalities of the market while also committing to continuous training and retraining of their staff¡£

Keywords: Nigerian capital market; efficient capital market; market efficiency; securities; investment (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:

Downloads: (external link)
http://tnc-online.net/journal/html/?87.html (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oul:tncr09:v:2:y:2010:i:1:p:42-51

Access Statistics for this article

More articles in Transnational Corporations Review from Ottawa United Learning Academy 1568 Merivale Rd. Suite # 618, Ottawa, Ontario, Canada K2G 5Y7.
Bibliographic data for series maintained by Denny Liao ( this e-mail address is bad, please contact ) and Jen Ma ().