Stock returns and trading volumes - the case of the Nairobi Securities Exchange

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dc.contributor.authorOpaka, Waka Rodger
dc.date.accessioned2016-04-08T07:22:32Z
dc.date.available2016-04-08T07:22:32Z
dc.date.issued2015-12
dc.descriptionSubmitted in partial fulfillment of the requirements for the Degree of Bachelor of Business Science in Finance (BBS-F) at Strathmore Universityen_US
dc.description.abstractThis study examines the causal and contemporaneous relationship between stock returns and trading volumes at the Nairobi Securities Exchange. The study makes use of panel data from 44 NSE-listed stocks over the period running from July 2009 to February 2014. Analysis of data is done by use of the Granger and Sims test for causality as well as estimating a contemporaneous relationship equation. The findings indicate an unambiguous causal relationship between stock returns and trading volumes, running from the former to the latter. It is also found that trading volumes do not make the market move. These results, therefore, imply that incorporating trading volume information in investment or stock purchase and sales decisions adds little value to investors' portfolios.en_US
dc.identifier.urihttp://hdl.handle.net/11071/4399
dc.language.isoenen_US
dc.publisherStrathmore Universityen_US
dc.subjectStock returnsen_US
dc.subjectTrading volumesen_US
dc.subjectNairobi Securities Exchangeen_US
dc.titleStock returns and trading volumes - the case of the Nairobi Securities Exchangeen_US
dc.typeOtheren_US
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