BBSE Research Projects
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The impact of on the capital structure of listed firms in Kenya
(Strathmore University, 2017)The Nairobi Securities Exchange is considered one of the most developed stock markets in Sub-Saharan Africa. This development is attributed to the significant reforms that were made between the years of 1990 and 1999. The ... -
Stock market liquidity and asset returns: The case of the NSE 20 share index
(Strathmore University, 2017)This research aims to measure the liquidity levels on a sample of stocks from the Nairobi Securities exchange and also investigate the relationship between returns and liquidity on some of the stocks listed under the NSE ... -
Investigating the impact of complementary currencies on business growth in informal economies: Case of lindi-pesa in lindi, Kibera slum, Nairobi County
(Strathmore University, 2017)This study sought to investigate the role of complementary currencies in promoting business growth in an informal area, the case of Lindi-Pesa in Lindi Location, Kibera Slum, Nairobi County. The methodology that was ... -
Impact of fiscal and monetary policy on stock market performance in Kenya
(Strathmore University, 2017)Given the important role of the stock market to an economy, this study aims to explore the impact of fiscal and monetary policy on the stock market in Kenya. The study uses Structural Vector Error Correction model (VECM) ... -
Healthcare expenditure and economic growth: The kenyan case (1970 - 2016).
(Strathmore University, 2017)Given that a large chunk of the National Budget is allocated to the health care sector (31.3 Billion of the 2016/7 National Budget) it is important to establish whether it is of any consequence to output. There exists a ... -
Firm-level determinants of liquidity: The case of NSE-listed Kenyan banks
(Strathmore University, 2017)What are the key determinants of Liquidity in Kenyan Commercial banks? In the aftermath of the Global Financial Crisis as well as recent events in the Kenyan context, Liquidity and its management have been a crucial concern ... -
Effects of election years in Kenya on performance of shares at the Nairobi securities exchange in Kenya: the mediating role of market
(Strathmore University, 2017)The Efficient Market Hypothesis is a core theory which explain s how the securities markets work. Itv proposes that capital markets are efficient to varying degrees where in this context, the term efficient means that the ... -
An assessment of the interest rate channel on monetary policy transmission in Kenya 2006-2015
(Strathmore University, 2017)For the government to achieve its desired level of economic growth, appropriate monetary policy needs to be formulated and implemented. Theoretical and empirical literature highlights the importance of the interest rate ... -
A Comparative Study of Crank-Nicolson scheme and Monte-Carlo Option Pricing
(Strathmore University, 2017)This study examines the rate of convergence and the accuracy of the two primary option pricing methods used currently by professionals; Monte-Carlo and Crank-Nicolson scheme using the Black-Scholes price as the benchmark ... -
Construction of multidimensional poverty index of Kenya using the Alkire-Foster method
(Strathmore University, 2017)In this paper, we use one specification of the Alkire-Foster approach, which is referred to as the Multidimensional Poverty Index (MPI), to calculate the poverty index of Kenya. This index was computed for 104 countries ... -
Impact of demographic changes on equity returns in Kenya
(Strathmore University, 2017)Unprecedented changes in demographic structure can have significant impact on real economic activity and more so the capital market. For example; the baby boom era in the U.S, after World War II, was accompanied by a general ... -
Forecasting equity prices for selected companies at the Nairobi Securities Exchange
(Strathmore University, 2017)Information asymmetry is the main cause of uncertainty in security exchanges all over the world. There are “informed investors” and “uninformed investors” with the latter having imperfect information. Due to this uncertainty, ... -
Industry portfolios, information diffusion and the predictability of stock returns in Kenya
(Strathmore University, 2017)This paper tests the hypothesis that stock return predictability exists in the Kenyan market. In particular, it investigates whether in the presence of gradual information diffusion, which is as a result of investors’ ... -
Impact of oil prices on the exchange rate in Kenya
(Strathmore University, 2017)The aim of this study is to estimate the impact of global oil prices on the exchange rate of Kenya for a monthly series from April 2000- April 2016. The modelling exercise follows 3 steps. In first step, the paper investigates ... -
Stock market development and economic growth in African frontier markets
(Strathmore University, 2017)There are three perspectives that have been used to explain the relationship between financial development and economic growth: the finance-led growth hypothesis, the growth driven finance hypothesis and the bi-directional ... -
An evaluation of entrepreneurship education as a tool used by the government to promote growth and development of SMEs in Kenya: A case study of the KPMG top 100 SMEs
(Strathmore University, 2017)The primary aim of this was to evaluate entrepreneurship education as a government policy tool, to stimulate growth and development of SMEs in Kenya. The SMEs considered for this study are all considered the best in their ... -
On the profitability of technical trading rules based on artificial neural networks: evidence from the Kenyan stock market
(Strathmore University, 2017)The aim of this study is to investigate the profitability of technical trading rules based on artificial neural networks in the Kenyan stock market. The technical trading rule is also compared to the buy-and-hold strategy ... -
The effect of stock price volatility on bank loan dynamics: a case of Kenya
(Strathmore University, 2017)The study seeks to evaluate dynamic linkages between stock prices and bank lending behavior prevalent in Kenya. As such the focal variables are loans to the private sector and share prices. However, because of the existence ... -
Relationship between openness and inflation in Kenya: Testing Romer hypothesis using Autoregressive Distributive Lag
(Strathmore University, 2017)Romer (1993) formulated the hypothesis that the relationship between inflation and openness is negative. The objectives of this paper are to determine if openness has any effect on inflation in Kenya and to establish the ... -
Hedging foreign exchange rate risk using currency futures: A case of Kenyan multinational firms
(Strathmore University, 2017)Currency futures contracts can be used in hedging exchange rate risk for firms. This study estimates the appropriate futures price that Kenyan multinational firms would have used during the year 2015 when the Kenya Shilling ...
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