dc.contributor.author | Njoroge, Cecilia | |
dc.date.accessioned | 2013-05-12T11:59:26Z | |
dc.date.available | 2013-05-12T11:59:26Z | |
dc.date.issued | 2003 | |
dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/22519 | |
dc.description.abstract | This study examines the impact of right issue announcements on share prices of
companies listed at the Nairobi Stock Exchange. The Study is based on a sample
of six rights issues between 1996 and 2002.
The study examines whether the average abnormal returns surrounding the rights
issue announcement was statistically different from zero. The market model was
used to derive the expected returns and a t-test statistic was used to test the
hypothesis.
Data analysed for six companies showed negative price adjustment for companies,
which issued rights issue. The results document a negative abnormal return prior
to the announcement day of the rights issue and a moderate setback thereafter. | en |
dc.description.sponsorship | The University of Nairobi | en |
dc.language.iso | en | en |
dc.subject | Impact of rights issues on stock prices | en |
dc.subject | Nairobi stock exchange | en |
dc.title | Impact of rights issues on stock prices: the case of Companies listed at the Nairobi stock exchange | en |
dc.type | Thesis | en |
local.publisher | School of Business | en |