Browsing by Author "Bekele, Meskerem"

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    Factors Affecting the Market Efficiency of Ethiopian Commodity Exchange (ECX)
    (Addis Ababa University, 2018-06-25) Bekele, Meskerem; Belayneh, Temesgen (PhD)
    In marketing, efficiency is one of cost benefits analysis measurement tools that are used to determine by some factors. Among these factors, price discovery, quality grading, risk management, clearing and settlement, market data dissemination, and transaction cost has been used for this study. Today, the attitude of marketing philosophies are changed thus the researcher have tried to find out really these factors of market efficiency affect the market interaction. Efficiency in marketing is the most used measure of market performance. Improved marketing efficiency is a common goal of farmers, marketing organizations, consumers, and society. The research had the objective of identifying and explaining the factors of Market Efficiency of ECX. In order to address its objectives, the research has been generally set conceptual framework. Triangulation of data in the realm of qualitative and quantitative research methods employing interview and questionnaire data analysis have been employed respectively. Four key informants representing other department heads have been purposively selected. In addition, random sampling has been used to analyze data collected through questionnaires of ECX members and 185 market actors have been involved in the study. The finding of the study shows that there is a direct and positive relationship between most of factors of market efficiency. All the factors of market efficiency measures have positive effect on market efficiency, among which clearing and settlement has the highest effect with coefficient followed by market data dissemination, risk management, price discovery, and quality grading respectively. But, transaction cost has a negative effect on the market efficiency. ECX recommended developing a market efficiency strategy and policy in concerning about the strong and lesser performance of each factors of market efficiency and also including others variable which is not in this study. ECX advised that to give them a chance to be active participants in the trading system in the presents of challenging was happened. Especially, Exporters may have determined some factors of market efficiency due to experience sharing with abroad business interaction. In the case of information and transportation infrastructures ECX recommended that in revised and developed system to have a good culture of working together with other governmental organization to enhance the market efficiency and make synergy effect.