An Event Study Of The Zimbabwe Stock Exchange (ZSE): Implications For Post-dollarisation Market Efficiency

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dc.contributor.authorChowa, Taonaziso
dc.contributor.authorNyanhete, Alois I.
dc.contributor.authorMhlanga, Richard
dc.date.accessioned2016-01-22T07:51:38Z
dc.date.accessioned2023-06-26T12:15:41Z
dc.date.available2016-01-22T07:51:38Z
dc.date.available2023-06-26T12:15:41Z
dc.date.issued2014-03
dc.descriptionPublished Journal Articleen_US
dc.description.abstractThis paper investigates the impact of earnings (full-year, half-year and dividend) announcements and cautionary statements on returns of ZSE listed companies post-dollarisation of the economy in 2009. A standard CMRM based event study methodology (EVM) is applied to weekly returns from January 2010 to December 2012. Findings suggest that earnings announcements and cautionary statements have no impact on returns of companies traded on the ZSE characterised by a very weak correlation of between ‘good/bad news’ and the direction of significant CARs. We conclude that alleged insider trading, high costs of trading and market undervaluation make it difficult for EVM to detect abnormal returns, thereby painting picture of compliance with the weak to semi-strong forms of the Efficient Market Hypothesis (EMH).en_US
dc.identifier.citationChowa T., Nyanhete A.I., and Mhlanga R. 2014. An Event Study Of The Zimbabwe Stock Exchange (ZSE): Implications For Post-dollarisation Market Efficiency. Mediterranean Journal of Social Sciences, Vol 5 No 3en_US
dc.identifier.urihttp://196.220.97.103:4000/handle/123456789/614
dc.language.isoenen_US
dc.publisherMCSER Publishingen_US
dc.subjectDollarisationen_US
dc.subjectPublic Announcementsen_US
dc.subjectEvent studyen_US
dc.subjectZSEen_US
dc.subjectMarket efficiencyen_US
dc.subjectPEADen_US
dc.subjectCMRMen_US
dc.subjectAbnormal Returnen_US
dc.titleAn Event Study Of The Zimbabwe Stock Exchange (ZSE): Implications For Post-dollarisation Market Efficiencyen_US
dc.typeArticleen_US
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