The impact of on the capital structure of listed firms in Kenya

Omondi, Veronica Sandra
Journal Title
Journal ISSN
Volume Title
Strathmore University
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 reforms include shifting from being self-regulated to having a regulatory body (Capital Markets Authority), elimination of "call-over" trading and "open outcry" trading through introduction of a Central Depository and Settlement System, tax concessions, relaxation of exchange controls and reduction of listing costs. The above reforms resulted in a development of the Nairobi Securities Exchange evidenced by the increase of the value of shares traded, market capitalization ratio and turnover ratio (Nyasha & Odhiambo, 2014).
A Research project submitted in partial fulfillment of the requirements for the Degree of Bachelor of Business Science in Financial Economics at Strathmore University
Stock market development, Capital structure, Market capitalization