dc.contributor.author | Njuru, James M | |
dc.date.accessioned | 2013-05-10T11:56:19Z | |
dc.date.issued | 2007 | |
dc.identifier.citation | MBA | en |
dc.identifier.uri | http://erepository.uonbi.ac.ke:8080/xmlui/handle/123456789/21339 | |
dc.description.abstract | The paper sought to test for existence of underreaction anomaly at NSE using a company
self-selected event, the stock dividend announcements. Underreaction anomaly refers to
the tendency of stock prices to continue reacting to important announcements in the days
following the announcement date. A sample of21 stock dividend announcement events at
NSE covering a 7-year period from 1st January 1999 to 31st December 2005 were tested
using comparison period return approach (Cl'Ra.). A continuation of positive returns in
the days following the stock dividends announcement date was observed for the majority
of the announcements. A test for stability of the results over time showed that no single
year was driving the results. This observation provides evidence consistent with existence
ofunderreaction to stock dividend announcements at NSE. | en |
dc.description.sponsorship | University of Nairobi | en |
dc.language.iso | en | en |
dc.publisher | University of Nairobi | en |
dc.subject | Stock dividend | en |
dc.subject | Nairobi stock exchange (NSE) | en |
dc.subject | Kenya | en |
dc.title | Test for 'underreaction' to stock dividend Announcements at NSE | en |
dc.type | Thesis | en |
local.publisher | School of Business, College of Humanities and Social Sciences | en |