Most previous studies which have examined the equity
investment and share valuation process have been
undertaken for the large and sophisticated capital
markets of developed countries. Very little
attention has been paid to this process in emerging
stock markets; research on the Nigerian stock market
has remained especially limited. The limited
research that has been undertaken for the Nigerian
stock market has focused on small samples of data,
studied a short time horizon and analysed relatively
few equities. This book should help shed some lights
on the information efficiency of the Nigerian stock
market and should also illuminate the share
valuation practices adopted by investors when they
price Nigerian equities. It is especially of
interest to foreign and local investors who may be
contemplating investing in this market and to
regulators and government authorities who are
seeking to attract foreign investors into the
country. Finally, it is of interest to the stock
brokers, fund managers & accounting profession
since it provides some insights about the level and
quality of disclosures in company reports which
investors find useful.
investment and share valuation process have been
undertaken for the large and sophisticated capital
markets of developed countries. Very little
attention has been paid to this process in emerging
stock markets; research on the Nigerian stock market
has remained especially limited. The limited
research that has been undertaken for the Nigerian
stock market has focused on small samples of data,
studied a short time horizon and analysed relatively
few equities. This book should help shed some lights
on the information efficiency of the Nigerian stock
market and should also illuminate the share
valuation practices adopted by investors when they
price Nigerian equities. It is especially of
interest to foreign and local investors who may be
contemplating investing in this market and to
regulators and government authorities who are
seeking to attract foreign investors into the
country. Finally, it is of interest to the stock
brokers, fund managers & accounting profession
since it provides some insights about the level and
quality of disclosures in company reports which
investors find useful.