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N. Bhana
AbstractThe objective of this study is to determine if the buy and sell recommendations of stockbroker and investment advisory services have provided clients with superior returns during the period 1979-88. Superior returns were associated primarily with...
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N. Bhana
AbstractThe objective of this paper is to determine the price behaviour of new listings on the JSE during the period 1985-1987. The results clearly indicate that those investors who acquired new issues at the initial offering price attained significant s...
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N. Bhana
AbstractThe objective of this study is to determine whether companies listed on the Johannesburg Stock Exchange overreacted to unexpected favourable and unfavourable company-specific news events during the period 1970 - 1984. The JSE appears to be ineffi...
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N. Bhana
AbstractAlthough a great deal of trading in rights transactions takes place on the various stock exchanges of the world there is a dearth of empirical evidence which might determine an observable trading strategy related to such transactions. The traditi...
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N. Bhana
AbstractThe objective of this study was to carry out an investigation into the abnormal return behaviour of a sample of 50 acquired companies on the Johannesburg Stock Exchange during the period 1976-1985. Insiders appear to take market positions on pros...
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N. Bhana
AbstractIn the event of total trade sanctions South Africa should have no difficulty in countering the ban on mineral exports, especially precious metals. Furthermore, earnings from precious metals are likely to increase in the short term followed by a g...
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N. Bhana
AbstractThis investigation uses an ex ante 'buy the market' investment strategy to compare the risk-return characteristics of a South African portfolio with an internationally diversified portfolio representing 18 countries during the 1969 - 1983 period....
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N. Bhana
AbstractThe De Kock Commission has recommended that exchange control regulations be relaxed so that South African investors may acquire foreign securities. The possible gains accruing to South African investors from international share portfolios represe...
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N. Bhana
AbstractSouth African investors have been precluded from investing in foreign securities by the Exchange Control Regulations of 1961. Furthermore, the monetary policy pursued by the authorities has resulted in an inefficient financial market. Investments...
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N. Bhana
AbstractThe efficient market hypothesis submits that the expected returns on shares and other financial assets are identical for all the days of the week. Studies of share returns on the New York Stock Exchange have revealed that the expected returns are...
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