Estimating risk premia for corporate governance risk in the Kenyan equity market

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dc.contributor.authorNjeri, Kevin Kuria
dc.date.accessioned2017-09-04T08:39:21Z
dc.date.available2017-09-04T08:39:21Z
dc.date.issued2017
dc.descriptionA Research project Submitted in partial fulfillment of the requirements for the degree of Bachelor of Business Science in Finance at Strathmore Universityen_US
dc.description.abstractThis study estimates the premia demanded by investors for corporate governance risk in the Kenyan equity market. Using the OECD/G20 corporate governance principles, corporate governance indices are constructed for the 10 of the NSE 20 share index constituents for the period 2008 to 2015. The indices use objectively observable principles that cover shareholder and stakeholder rights, disclosure and transparency as well as board responsibilities. The arbitrage asset pricing framework is then applied to determine the risk premia associated with corporate governance risk. The findings show that for the period under consideration, corporate governance risk attracted a premium of approximately between 4.64% and 15.16% in the NSE. The risk premia suggest disclosure and transparency standards rank above other elements of corporate governance in order of importance to investors in Kenya’s equity market.en_US
dc.identifier.urihttp://hdl.handle.net/11071/5374
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectCorporate governance risken_US
dc.subjectOECD/G20 governance principlesen_US
dc.subjectArbitrage Asset Pricing Frameworken_US
dc.subjectRisk premiaen_US
dc.titleEstimating risk premia for corporate governance risk in the Kenyan equity marketen_US
dc.typeLearning Objecten_US
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