dc.contributor.author | Maina, Samuel K | |
dc.date.accessioned | 2018-10-01T08:58:29Z | |
dc.date.available | 2018-10-01T08:58:29Z | |
dc.date.issued | 2006 | |
dc.identifier.citation | Degree of Master of Business Administration | en_US |
dc.identifier.uri | http://hdl.handle.net/11295/103882 | |
dc.description.abstract | Empirical investigations on stock markets traditionally focus primarily on stock prices and
their behavior over time. Based on the available set of information about a company, its
stock price reflects investor's expectations on the future performance of that firm. The
arrival of new information causes investors to adapt their expectations and is the main
source of price movements.
This study has not been done in Kenya hence the need to establish the nature of the
relationship between a firm's investor base and its stock price. for firms listed on the NSE.
The findings of this research will therefore bridge the knowledge gap that exists on this
particular issue. The objective of the study was to investigate and document the
relationship between stock prices and the number of shareholder) of firms quoted at the
NSE . More precisely, the study ought to establish the correlation between the two
variable stock prices and the number of shareholder
For purposes of this study the population wa all the 48 companies quoted at the Nairobi
Stock Exchange (NSE) (Appendix 1) over the period 1997-2003.The study relied entirely
on secondary data, which was obtained from the financial statement and other records of
companies quoted at the NSE. The data that was collected mainly comprise of yearly stock
prices and number of shareholders for all the companies included in the study for the seven-year period 1997-2003.
The findings in this study show a negative relationship which is not linear between the two variable stock prices and number of shareholders hence it is contrary to what Merton found out that an increase in the number of investors holding a security should increase the company's value.Companies with the highest number of shareholders tend to report some of the lowest stock prices over the years under study holding other factors constant. | en_US |
dc.language.iso | en | en_US |
dc.publisher | University of Nairobi | en_US |
dc.title | An empirical investigation into the relationship between stock prices and the number of shareholders of firms quoted at the NSE. | en_US |
dc.type | Thesis | en_US |