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Impact of Covid-19 Pandemic on Nigerian Capital Market: The Imperative of Testing the Efficacy of Efficient Market Hypothesis

In this paper we reviewed the efficacy of Efficient Market Hypothesis (EMH) on the outbreak of Covid-19 on Nigerian Capital Market. The EMH is a theory based on informational efficiency by the capital markets owing to their quick and instantaneous incorporation of new information. The study tested the market in two parameters: to confirm the randomness (efficiency of the market) using run-test, and to confirm the effect of Covid-19 protocols on some economic fundamentals using regression analysis. The result of the run-test of the daily Nigerian capital market data (April, 2020 to July 2020) r…

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    from https://femsbukjournals.org.ng/bbr/article/impact-of-covid-19-pandemic-on-nigerian-capital-market-the-imperative-of-testing-the-efficacy-of-efficient-market-hyp