Thesis (MDF (Development Finance))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: This study examines whether there is a solution to the challenges being faced in the capital
markets in Zambia. Literature on how other countries have overcome these challenges is
reviewed to determine whether there is a solution to these challenges. The study also tests
for the market efficiency of the Lusaka Stock Exchange (LuSE). The Random Walk Model
is used to test for weak form efficiency using the Augmented Dickey-Fuller (ADF) Test. The
ADF Test is conducted for the period May 1995 to October 2008 using individual stocks,
depending on the date the stock was listed on the LuSE. The result of this study shows that
there is a solution to some of the challenges being faced in the capital markets in Zambia.
The results also show that the LuSE market is a weak form of efficiency. / AFRIKAANSE OPSOMMING: Hierdie studie ondersoek die vraag of daar ʼn oplossing is vir die uitdagings waardeur die
kapitaalmarkte in Zambië in die gesig gestaar word. Literatuur oor hoe ander lande hierdie
uitdagings te bowe gekom het, word nagegaan om te bepaal of daar ʼn oplossing is vir dié
uitdagings. Die studie toets voorts die markdoeltreffendheid van die Lusaka-aandelebeurs
(LuSE). Die stogastiese bewegingsteorie word gebruik om met behulp van die Augmented
Dickey-Fuller (ADF)-toets vir swak vormdoeltreffendheid te toets. Die ADF-toets is met
behulp van individuele effekte gedurende die tydperk Mei 1995 tot Oktober 2008 uitgevoer,
na gelang van die datum waarop die effek op die LuSE genoteer is. Die slotsom waartoe
hierdie studie kom, is dat daar ʼn oplossing is vir sommige van die uitdagings waarvoor die
kapitaalmarkte in Zambië te staan kom. Die resultate toon ook dat die LuSE-mark swak is
wat betref vormdoeltreffendheid.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:sun/oai:scholar.sun.ac.za:10019.1/971 |
| Date | 03 1900 |
| Creators | Nglazi-Tembo, Wendy |
| Contributors | Mlambo, Chipo, University of Stellenbosch. Faculty of Economic and Management Sciences. Graduate School of Business. |
| Publisher | Stellenbosch : University of Stellenbosch |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Rights | University of Stellenbosch |
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