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

Hervé Ndoume Essingone, Mouhamadou Saliou Diallo


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.

Full Text:


DOI: https://doi.org/10.11114/aef.v6i1.3778


  • There are currently no refbacks.

Paper Submission E-mail: aef@redfame.com

Applied Economics and Finance    ISSN 2332-7294 (Print)   ISSN 2332-7308 (Online)

Copyright © Redfame Publishing Inc.

To make sure that you can receive messages from us, please add the 'redfame.com' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders. If you have any questions, please contact: aef@redfame.com