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Risk and Return: The Case of Securities Listed on the West African Economic and Monetary Union Regional Exchange of Securities (BRVM)

The purpose of this research is to study the relationship between risk and return on the BRVM. The empirical results, obtained using the Asymmetric Response Model (ARM) model, show the asymmetric nature of the return of the securities that are rated on them. This does not reflect the level of risk taken by investors, which is much higher than the return obtained. While this result is consistent with the distancing characteristics of risk and return observed in emerging markets, it highlights above all the need to rebalance the relationship between risk and return at the RSE in order to make it more attractive for investors.


Auteur(s) : Hervé Ndoume Essingone1 & Mouhamadou Saliou Diallo2
Pages : 97-108
Année de publication : 2019
Revue : Applied Economics Finance
N° de volume : 6
Type : Article
Mise en ligne par : DIALLO Mouhamadou Saliou