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Determinants of Market Efficiency of Ethiopian Commodity Exchange: The Case of Coffee Market

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dc.contributor.advisor Belayneh, Temesgen (PhD)
dc.contributor.author Yalew, Yordanos
dc.date.accessioned 2021-01-11T12:23:40Z
dc.date.available 2021-01-11T12:23:40Z
dc.date.issued 2020-06
dc.identifier.uri http://etd.aau.edu.et/handle/123456789/24615
dc.description.abstract The Ethiopian commodity exchange (ECX) is the one and only modern market in Ethiopia that launched trading operation in April 2008 with a vision to revolutionize the country’s agriculture through an efficient, dynamic, forward-looking and orderly marketing system. Coffee is one of the important commodities traded in ECX. Market efficiency is one of the cost benefit analysis measurement tools that are used to determine by some factors. Among these factors Identity preservation model, transaction cost, warehouse system. Price discovery, risk management, rule and regulation and trading system had been used for this study. Recently market reform was made on ECX specifically on the coffee trade. So this research tried to measure the effect of the identified factors on market efficiency specifically on the coffee market. A total of 161 questionnaires were distributed to ECX members and NMDTs participating on coffee trade. Only 148 questionnaires were returned at the end of the data collection process, which gave the response rate of 91.92 per cent. Quantitative approach and Descriptive and explanatory research design was employed. Data collected were analyzed using descriptive statistics then correlation and regression by using SPSS version 20. A survey questionnaire was prepared to collect a primary data. Identity preservation has the strongest effect on ECX coffee market efficiency (0.281) followed by Price discovery (0.267), Trading system (0.264), and rule and regulation (0.232). However, there were no significant relationships between transaction cost (-0.028), warehouse system (-0.018) and risk management (-0.012) in ECX coffee market efficiency. The findings of this survey will be used to make recommendations to ECX family to enhance their level of insight about the exchanges coffee market efficiency en_US
dc.language.iso en_US en_US
dc.publisher Addis Ababa University en_US
dc.subject Market efficiency en_US
dc.subject ECX en_US
dc.subject Identity Preservation en_US
dc.title Determinants of Market Efficiency of Ethiopian Commodity Exchange: The Case of Coffee Market en_US
dc.type Thesis en_US


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