This study uses data from the BRVM and BCEAO databases collected between 1998 and 2020 to analyze the weak and semi-strong forms of the informational efficiency in the BRVM exchange. To examine the weak form of efficiency, the Augmented Dickey Fuller test, the Runs test, and the variance ratio are used. For the semi-strong form, the Johansen ((...)

In this empirical investigation, we examine the relationship between trading volume, return and volatility for eleven African Stock Exchanges. This study covers the period from September 24, 2010 to September 24, 2020, i.e., a total of 3037 daily observations per country. The relationship between trading volume and return is examined using the(...)

This study uses the Wilcoxon's signed ranks test to identify the effect of the Covid-19 outbreak on the stocks returns of companies listed on the West African Economic and Monetary Union's (WAEMU) stock market by considering two event dates (January 23, 2020 and March 2, 2020). To account for the temporal volatility in the event approach, the(...)