{"id":{"repo_id":"cape-town","oai_identifier":"oai:open.uct.ac.za:11427/14414"},"canonical_url":"https://search.dev.ndltd.org/etd/cape-town/oai:open.uct.ac.za:11427/14414","repository":{"repo_id":"cape-town","name":"University of Cape Town","base_url":"https://open.uct.ac.za/oai/request"},"display":{"title":"The efficiency of the South African market for rights issues: an application of the Black-Scholes model","abstract":"Capital market efficiency is an important aspect of modern financial theory. This is because in an efficient capital market, scarce resources are optimally allocated to productive investments in a way that is beneficial to market participants. Yet there appears to be a dearth of research into the market efficiency of rights issues in South Africa, despite the fact that the majority of equity issues on the JSE are via a rights issue. The problem is that if the market is inefficient it is failing in its role of being an efficient allocator of scarce resources. The objective of this study is to establish whether the South African market for rights issues is efficient.","abstract_html":"Capital market efficiency is an important aspect of modern financial theory. This is because in an efficient capital market, scarce resources are optimally allocated to productive investments in a way that is beneficial to market participants. Yet there appears to be a dearth of research into the market efficiency of rights issues in South Africa, despite the fact that the majority of equity issues on the JSE are via a rights issue. The problem is that if the market is inefficient it is failing in its role of being an efficient allocator of scarce resources. The objective of this study is to establish whether the South African market for rights issues is efficient.","abstract_has_math":false,"creators":["Alston, Rowan Gilbert"],"institution":"Department of Finance and Tax","degree_name":null,"degree_level":null,"degree_discipline":null,"degree_department":null,"school":null,"contributors":[],"advisors":[],"committee_chairs":[],"committee_members":[],"year":1996,"date_issued":"1996","date_published":"1996","updated_at":"2026-07-22T22:23:45Z","subjects":[],"languages":["eng"],"rights":[],"rights_urls":[],"identifier_entries":[]},"links":{"outbound_url":"http://hdl.handle.net/11427/14414","outbound_label":"Handle","outbound_source":"dc:identifier.uri"},"metadata_groups":[{"id":"people","label":"People","entries":[{"key":"dc:creator","label":"Author","values":["Alston, Rowan Gilbert"]}]},{"id":"academic_context","label":"Academic Context","entries":[{"key":"dc:date.accessioned","label":"Dc Date Accessioned","values":["2015-10-28T05:42:39Z"]},{"key":"dc:date.available","label":"Dc Date Available","values":["2015-10-28T05:42:39Z"]},{"key":"dc:date.issued","label":"Date","values":["1996"]},{"key":"dc:publisher.department","label":"Dc Publisher Department","values":["Department of Finance and Tax"]},{"key":"dc:publisher.institution","label":"Dc Publisher Institution","values":["University of Cape Town"]},{"key":"dc:type","label":"Dc Type","values":["Master Thesis"]},{"key":"dc:type.qualificationlevel","label":"Dc Type Qualificationlevel","values":["Masters"]},{"key":"dc:type.qualificationname","label":"Dc Type Qualificationname","values":["MCom"]}]},{"id":"language_rights","label":"Language and Rights","entries":[{"key":"dc:language.iso","label":"Language (ISO)","values":["eng"]}]},{"id":"identifiers","label":"Identifiers","entries":[{"key":"dc:identifier.uri","label":"Identifier URI","values":["http://hdl.handle.net/11427/14414"]}]},{"id":"additional","label":"Additional Metadata","entries":[{"key":"dc:description","label":"Description","values":["Bibliography: leaves 87-93."]},{"key":"dc:description.abstract","label":"Abstract","values":["Capital market efficiency is an important aspect of modern financial theory. This is because in an efficient capital market, scarce resources are optimally allocated to productive investments in a way that is beneficial to market participants. Yet there appears to be a dearth of research into the market efficiency of rights issues in South Africa, despite the fact that the majority of equity issues on the JSE are via a rights issue. The problem is that if the market is inefficient it is failing in its role of being an efficient allocator of scarce resources. The objective of this study is to establish whether the South African market for rights issues is efficient."]},{"key":"dc:title","label":"Title","values":["The efficiency of the South African market for rights issues: an application of the Black-Scholes model"]}]}],"canonical_facts":{"dc:creator":["Alston, Rowan Gilbert"],"dc:date.accessioned":["2015-10-28T05:42:39Z"],"dc:date.available":["2015-10-28T05:42:39Z"],"dc:date.issued":["1996"],"dc:description":["Bibliography: leaves 87-93."],"dc:description.abstract":["Capital market efficiency is an important aspect of modern financial theory. This is because in an efficient capital market, scarce resources are optimally allocated to productive investments in a way that is beneficial to market participants. Yet there appears to be a dearth of research into the market efficiency of rights issues in South Africa, despite the fact that the majority of equity issues on the JSE are via a rights issue. The problem is that if the market is inefficient it is failing in its role of being an efficient allocator of scarce resources. The objective of this study is to establish whether the South African market for rights issues is efficient."],"dc:identifier.uri":["http://hdl.handle.net/11427/14414"],"dc:language.iso":["eng"],"dc:publisher.department":["Department of Finance and Tax"],"dc:publisher.institution":["University of Cape Town"],"dc:title":["The efficiency of the South African market for rights issues: an application of the Black-Scholes model"],"dc:type":["Master Thesis"],"dc:type.qualificationlevel":["Masters"],"dc:type.qualificationname":["MCom"]},"updated_at":"2026-07-22T22:23:45Z"}