May 2014

Market reaction to chief executive officers (CEOs) appointments on Johannesburg securities exchange (JSE): stock price and volume approach

The study is aimed at assessing the market reaction to the announcement of the appointment of CEOs of companies listed on the Johannesburg securities exchange (JSE). To achieve this objective an event study was conducted.  The dataset consist of 43 firms who satisfied the inclusion criteria, who have announced the appointment of CEO within the period January, 2000 to December, 2012. In this study both the volume...

Author(s): Nthoesane M.G. and Kruger J.W.

May 2014

The effect of currency devaluation on output: The case of ethiopian economy

This paper assesses the short and long run effects of currency devaluation on output growth in Ethiopia. The study is conducted by using quarterly time series data over the period ranging from 1998.Q1 to 2010.Q4 and employing a vector auto regression (VAR) model. By controlling the monetary and fiscal policies, it is found that currency devaluations are contractionary in the long run and neutral in the short-run. Other...

Author(s): Yilkal Wassie Ayen