dc.contributor.author | Ng'ang'a, Alice M | |
dc.date.accessioned | 2013-05-07T11:07:43Z | |
dc.date.available | 2013-05-07T11:07:43Z | |
dc.date.issued | 2008-08 | |
dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/19776 | |
dc.description.abstract | This document examines the impact of macroeconomic risk on stock prices in the Nairobi
Stock Exchange (NSE). One important factor which affects the determination of prices
and the growth of capital markets is macroeconomic risk. Following works done on
advanced stock markets, this study seeks to investigate the impact of macroeconomic risk
factors on stock returns in various industrial classification; financial and investment,
commercial and services, and industrial and allied sectors under the NSE for the period
January 2000 to December 2005. Using the arbitrage pricing methodology developed by
Ross (1976) and Chen et al (1986), the study revealed that investors in the NSE
considered three main macroeconomic risk factors in the short run. That is, money
demand, exchange rate and the risk premium in the determination of the various
industrial stock prices during the period under consideration. | en |
dc.description.sponsorship | University of Nairobi | en |
dc.language.iso | en | en |
dc.subject | Nairobi Stock Exchange (NSE) | en |
dc.subject | Macro-economic risk | en |
dc.subject | Industrial stock | en |
dc.subject | Stock prices | en |
dc.title | The impact of macro-economic risk on stock prices in Kenya, 2000-2005 | en |
dc.type | Thesis | en |
local.publisher | Department of Economics, University of Nairobi | en |