Impact of mergers and acquisitions in the financial sector of the Nairobi Securities Exchange - an event study approach

dc.contributor.author	Chege, Kamau Brian
dc.date.accessioned	2016-03-30T08:06:28Z
dc.date.available	2016-03-30T08:06:28Z
dc.date.issued	2015-11-30
dc.description	Submitted in partial fulfillment of the requirements for the Degree of Bachelor of Business Science in Financial Economics at Strathmore University	en_US
dc.description.abstract	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 the "semi-strong form" of Efficient Market Hypothesis (EMH) of the Nairobi Securities Exchange. We find that thirty days and ten days prior to the announcement of a merger and acquisition, shareholders receive considerable and significant positive cumulative average abnormal returns (CAARs). Also the results show that significant negative CAARs after the announcement of the deals. The overall results indicate that bank mergers and acquisitions have an effect on the shareholder wealth as the y significantly affect the share prices of the acquiring firm.	en_US
dc.identifier.uri	http://hdl.handle.net/11071/4364
dc.language.iso	en	en_US
dc.publisher	Strathmore University	en_US
dc.subject	Mergers	en_US
dc.subject	Acquisitions	en_US
dc.subject	Nairobi Securities Exchange	en_US
dc.subject	Event Study Approach	en_US
dc.title	Impact of mergers and acquisitions in the financial sector of the Nairobi Securities Exchange - an event study approach	en_US
dc.type	Other	en_US

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