Impact of the announcement of senior management changes on company value in the financial sector of the Nairobi Securities Exchange

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dc.contributor.authorJesai, Veronica Akena
dc.date.accessioned2019-05-02T16:51:15Z
dc.date.available2019-05-02T16:51:15Z
dc.date.issued2018
dc.descriptionA Research project submitted in partial fulfillment of the requirements for the degree of Bachelor of Business Science in Actuarial Science at Strathmore Universityen_US
dc.description.abstractThis study examines the effect of a senior management change on the share price of a company. Previous international studies have shown mixed and inconsistent results, hence the interest to test if the same would apply in a Kenyan setting. The analysis was performed on a sample of 13 companies listed in the financial sector of the Nairobi Securities exchange that made a senior management change. Announcement between the years 2000 and 2016.The study used an event study approach and the market model, to investigate whether abnormal returns, average abnormal returns and cumulative average abnormal returns were significant. Using the standard event study methodology, statistically insignificant positive and negative abnormal and average abnormal returns were found, while statistically significant positive and negative cumulative average abnormal stock returns were found. From the study findings it became apparent that a senior management change has an impact on actual stock performance in Kenya. A possible recommendation for these listed companies therefore, would be to plan a succession strategy taking these effects into accounten_US
dc.identifier.urihttp://hdl.handle.net/11071/6455
dc.language.isoen_USen_US
dc.publisherStrathmore Universityen_US
dc.subjectStock security exchangeen_US
dc.subjectFinanceen_US
dc.subjectManagementen_US
dc.titleImpact of the announcement of senior management changes on company value in the financial sector of the Nairobi Securities Exchangeen_US
dc.typeUndergraduate projecten_US
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