| dc.description.abstract | The study has been undertaken to assess the impact of Total Quality Management (TQM) on
stock prices in the respective sectors of specific companies listed at the Nairobi Stock Exchange
(NSE). These sectors are namely Fast Moving Consumer Goods (FMCG), Petroleum, Rubber
Processing, Media and Publishing, and Cement Processing. From each sector two companies
have been drawn to form the experimental group comprising listed companies that have initiated
TQM programs and the control group listed companies that do not have TQM programs in place.
This study then tries to establish a relationship between TQM, as indicated by Operating Return
on Assets (ORDA), and market returns (computed using the Holding Period Return - HPR).
Thereafter an F-test is used to assess the actual impact of TQM on holding period returns (HPR) by
comparing stock HPR before and after TQM implementation.
It has been found that the implementation ofTQM programs has impacted positively on two sectors
namely FMCG and Media & Publishing, which have- seen their stock prices surge after
implementation ofTQM programs | en |
