INFORMATION AND COMMUNICATION TECHNOLOGY ADOPTION AND STOCK MARKET CAPITALIZATION IN SELECTED SUB-SAHARAN AFRICAN COUNTRIES
Keywords:
ICT Adoption, consumer impulse behavior, Internet Users, Broadband Users, Mobile Phone Users.Abstract
The literature on stock market performance have shown diverse channels through which stockperformance can be enhanced, one of it is adoption of information communication technology.The effect of ICT adoption on the stock market capitalization has been one of the most commonly debated topics among economists and policy makers in African countries and the outcome has been controversial. The study empirically investigated the information communication technology adoption on stock market capitalization in selected sub-Saharan African countries. The ex-pos facto research design was employed in the study. Annual data from 2008 to 2022 for 8 selected countries in SSA sourced from World Bank’s World Development Indicators and Internation Telecommunication Union Database were used for the study. Stationary tests were carried out to determine the stationarity and order of integration of the data values. Fixed Effect Estimation Technique was employed to evaluate the parameters in the model. The results showed that broadband users had
