dc.contributor.author | Kabiru, James Ndungu | |
dc.contributor.author | Ochieng, Elly Duncan | |
dc.contributor.author | Kinyua, Hellen Wairimu | |
dc.date.accessioned | 2016-06-07T10:23:50Z | |
dc.date.available | 2016-06-07T10:23:50Z | |
dc.date.issued | 2015 | |
dc.identifier.citation | European Scientific Journal11.28 (Oct 2015). | en_US |
dc.identifier.uri | http://search.proquest.com/openview/ba80cabef34059311d51d46563886ee7/1?pq-origsite=gscholar&cbl=1576353 | |
dc.identifier.uri | http://hdl.handle.net/11295/96060 | |
dc.description.abstract | The performance of the financial markets is significantly impacted by
the political environment during eneral ellections. This paper focussed on the
effect of general ellections on the stock retuns at the Nairobi Securities
exchange. Emperical results have given inconsistent results on whether
general election events negatively of positively impact the stock return. The
study adopted event study methodology and analysed secondary data
collected from the NSE around the 1997, 2002, 2007 and 2013 general
election dates in Kenya. The study found that market reaction to elections is
highly negative or positive depending on the volatility of the election
environment. Analysis of the cumulative abnormal returns (CAR) found that
the 2002 and 2013 general elections were insignificant, while the CAR
around the 1997 and 2007 general election events were found to be
significant at 5% level of significance. The study, thus recommends that
stock market, investors and other stakeholders not to overlook electioneering
events, and to implement policies that will cusion the security market against
political risks during general elections to enhance investor confidence. | en_US |
dc.language.iso | en | en_US |
dc.rights | Attribution-NonCommercial-NoDerivs 3.0 United States | * |
dc.rights.uri | http://creativecommons.org/licenses/by-nc-nd/3.0/us/ | * |
dc.subject | General Elections | en_US |
dc.subject | Stock Returns | en_US |
dc.subject | Nairobi Securities Exchange | en_US |
dc.title | The effect of general elections on stock returns at the Nairobi securities exchange | en_US |
dc.type | Article | en_US |