This study is concerned with investigating the structural relationship between stockmarkets and economic variables in different countries. In investigating the relationships, the following six questions are posed:- Are stock markets in the United States, the United Kingdom, West Germany, France,...

Stock markets are affected by many interrelated factors such as economics and politics at both national and international levels. Predicting stock indices and determining the set of relevant factors for making accurate predictions are complicated tasks. Neural networks are one of the popular...

ENGLISH ABSTRACT: This study investigates whether any exploitable pauems exist in a sample of tenAfrican stock markets that could lead to abnonnal gains. Southern Africa isrepresented by Botswana, Namibia. Mauritius and Zimbabwe, East Africa by Kenya,West Africa by Ghana and the BRVM, and North...

Measuring the performance of any financial portfolio is only relevant ifcompared relative to another similar portfolio. Over the years the norm in theindustry has been to use market capitalisation indices as benchmarks tomeasure performance.Market capitalisation indices, such as the FTSE/JSE...

ENGLISH ABSTRACT: Econophysics is a relatively new branch of physics. It entails the use of models in physics applied toeconomics. The distributions of financial time series are the aspect most intensely studied byphysicists. This study is based on a study by Kleinert and Chen who applied the...

ENGLISH ABSTRACT: This present study investigates the directional link between stock market development and economic growth in Zambia for the period 2002-2009, using quarterly data. While there is numerous empirical research conducted on this topic, none of it constitutes an in-depth study of...

In recent times many theories have surfaced posing challenging threats to the Efficient Market Hypothesis. We are entering an exciting era of financial economics fueled by the urge to have a better understanding of the intricate workings of financial markets. Many studies are emerging that...

Conventional estimates of the marginal propensity to consume (MPC) out of changes in net worth average about 4 cents on the dollar. If this is true, the $14 trillion rise in household net worth between 1995 and 2000 created an additional $567 billion in household consumption. This increase in...

Comprising nearly one-third of the nation's gross domestic product from 1995 to 1999, the growth of the Information Technology industry took a backseat to dot.com mania. Its companies, however, were just as influential in creating the stock market bubble. Characterized by high technology, high...

This study examines the reactions of market makers and investors to large dividend increases to identify the motives for dividend increases. Uniquely, this study simultaneously tests the signaling and agency abatement motivations as explanations of the impact of dividend increases on stock...