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Now showing items 1-10 of 17
Impact of mergers and acquisitions in the financial sector of the Nairobi Securities Exchange - an event study approach
(Strathmore University, 2015-11-30)
This paper examines the impact of mergers and acquisitions in the financial services firms listed on the NSE on shareholder wealth in Kenya during the period 2000-20015. With the use of event study methodology, we reject ...
Capital structure and stock returns - evidence from the Nairobi Securities Exchange
(Strathmore University, 2014-03-24)
Capital structure and stock return are important aspects in financial management. This study examines how debt ratios move in relation with movement in stock prices for listed firms in Kenya. The Fama-Macbeth regression ...
Underpricing of initial public offerings at the Nairobi Securities Exchange between 1994 and 2014
(Strathmore University, 2015-11)
Under pricing of initial Public Offerings is characterized by the closing price being higher than the offer price on the first day of trading. Research carried out in different financial markets has generated varied results ...
Dividend yield strategy in the Nairobi Securities Exchange
(Strathmore University, 2015-11)
This study aims to test the viability of dividend yield investing as an alternative investment strategy to exploit observed overreactions in the• market. The study adopts the Dogs of the Dow investment strategy that entails ...
The effect of an IPO on the share performance of industry rivals - an event study analysis of the Nairobi Securities Exchange
(Strathmore University, 2015-11)
The research project analyzes the impact an Initial Public Offering has on the share performance of industry rivals. Access to funds is one of the key processes of firms and an IPO is one of the channels that firms seeking ...
Examining the relationship between market liquidity and equity returns - a case study of firms listed on the Nairobi Securities Exchange
(Strathmore University, 2014-03)
This study uses a panel regression of 42 actively traded equities listed on the Nairobi Securities Exchange over 58 days to relate a stock's bid-ask spread and its return. The study results show that in the NSE, there is ...
The Effectiveness of profit warnings in predicting decline in share prices in theNSE: an event study approach.
(Strathmore University, 2017)
Profit warnings are issued by companies to inform shareholders that the current year’s profit will be significantly lower than the profit of the previous year or the anticipated profit for the current year (Jensen, 2005). ...
Return volatility and the pricing of equities at the Nairobi Securities Exchange
(Strathmore University, 2014-03-12)
Using the monthly return series between 1999 and 2013 I find evidence that volatility is priced on the Nairobi Securities Exchange. The GARCH-M model yields positive and significant ARCH and GARCH parameters and the shocks ...
Corporate governance and dividend payout - analysis of firms listed at the Nairobi Securities Exchange
(Strathmore University, 2014-03)
The study aims to examine the effect of corporate governance on dividend payout of firms listed at the Nairobi Securities Exchange. Based on agency theory, the study considers the effect of two conflicting hypotheses, the ...
Stock market overreaction and the size effect - evidence from the Nairobi Securities Exchange
(Strathmore University, 2015-11)
Investors have traditionally been viewed as economically rational individuals who make decisions based on all available information. More recent studies propose that investors are irrational and systematically overreact ...