IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF FINANCE AND INVESTMENT RESEARCH (WJFIR )

E-ISSN 2550-7125
P-ISSN 2682-5902
VOL. 8 NO. 1 2024
DOI: https://doi.org/10.56201/wjfir.v8.no1.2024.pg105.126

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Efficient Market Hypothesis and Stock Prices: A Time Variant Analysis from Nigeria

LENYIE, Leesi

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Abstract

This study examined the effect of Efficient Market Hypothesis on stock prices in the Nigeria stock

keywords:

Efficient Market Hypothesis, Stock Prices, Changes in money supply, Changes in expected inflation rate, Changes in monetary policy rate

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References:

Abakah, E. J. A., Alagidede, P., Mensah, L. & Ohene-Asare, K. (2018). Non-linear approach to
Random Walk Test in selected African countries. International Journal of Managerial
Finance,14(3), 362-376.

Adam, K., Marcet, A. & Beutel, J. (2017). Stock price booms and expected capital gains. American
Economic Review, 107(8), 2352- 2408.
Adebanjo, J.F., Awonusi, F. & Eseyin, O. (2018). The weak form market efficiency and the
Nigerian stock exchange. Afro Asian Journal of Social Science, 9(4), 1-17.

Adigwe, P., Ugbomhe, U. & Alajekwu, U. (2017). Test of weak form stock market efficiency in
selected African stock markets (2013-2015). Saudi Journal of Business and Management
Sciences, 2(2), 60-69.

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