Please use this identifier to cite or link to this item: https://hdl.handle.net/10646/3240
Title: Zimbabwe stock exchange trading automation and its impact on the development of the local capital market: A Zimbabwean perspective
Authors: Musimwa, Romeo
Kaseke, Nyasha
Keywords: Stock Exchange Automation
Capital Market Development
Liquidity
Price Discovery
Issue Date: Jan-2016
Publisher: University of Zimbabwe, Faculty of Commerce
Citation: Musimwa, R. & Kaseke, N. (2016). Zimbabwe stock exchange trading automation and its impact on the development of the local capital market — A Zimbabwean perspective. University of Zimbabwe Business Review, 4 (1), 25-40.
Abstract: This study investigated the possible impact that trading automation of Zimbabwe Stock Exchange (ZSE) could have on the development of the local capital market from an ex-ante perspective. An assessment of the current level of development of the local capital market was looked at with a view of making recommendations for further improvement from the current levels. In measuring capital market development, four parameters namely, liquidity, volume and value traded, price discovery process and regulation of the market, were used as proxies for capital market development. In determining the current level of capital market development in Zimbabwe, a Capital Market Diagnostic Model was used. A survey was used to collect data from the capital market stakeholders through a structured questionnaire. The results indicated that trading automation has got statistical significant relationships with local market liquidity, volumes and value traded, price discovery process and local market regulation. The study concluded that trading automation of ZSE will result in capital market development, improvement in liquidity, volume and value traded, price discovery process as well as regulation of the local market.
URI: http://hdl.handle.net/10646/3240
ISSN: 1819-2971
Appears in Collections:GSM Staff Publications



Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.