Financial Management: Initial Public Offer And Stock Market Returns - Couverture souple

Masinde, Joseph

 
9783659364006: Financial Management: Initial Public Offer And Stock Market Returns
Couverture souple
ISBN 10 : 3659364002 ISBN 13 : 9783659364006
Editeur : LAP LAMBERT Academic Publishing, 2013

Synopsis

Initial Public Offers (IPOs) attract much attention in World stock markets. The IPOs do not go unnoticed in emerging markets since they are focal points, particularly if listed alone, and stirs the whole market. As such a single large IPO can have a significant effect in a less developed market. Therefore, this study sought to evaluate the effects that IPO announcements had on the market return of listed stocks at the Nairobi Stock Exchange(NSE). In addition, the study assessed the effects of the turnover and volume traded on the market return. The study incorporated all the seven recently floated IPOs at the NSE between January 2006 and March 2009. The main results from the fitted linear regression model showed that all IPOs had a significant effect on the market return. In particular, Co-operative Bank, KenGen, and Volume traded had a negative effect while the remaining IPOs, elections and turnover had a positive impact on the market returns. This will be a source of valuable information to the capital Markets Authority, Nairobi Stock Exchange as well as investors for decision making, legal and Policy formulation.

Les informations fournies dans la section « Synopsis » peuvent faire référence à une autre édition de ce titre.

Présentation de l'éditeur

Initial Public Offers (IPOs) attract much attention in World stock markets. The IPOs do not go unnoticed in emerging markets since they are focal points, particularly if listed alone, and stirs the whole market. As such a single large IPO can have a significant effect in a less developed market. Therefore, this study sought to evaluate the effects that IPO announcements had on the market return of listed stocks at the Nairobi Stock Exchange(NSE). In addition, the study assessed the effects of the turnover and volume traded on the market return. The study incorporated all the seven recently floated IPOs at the NSE between January 2006 and March 2009. The main results from the fitted linear regression model showed that all IPOs had a significant effect on the market return. In particular, Co-operative Bank, KenGen, and Volume traded had a negative effect while the remaining IPOs, elections and turnover had a positive impact on the market returns. This will be a source of valuable information to the capital Markets Authority, Nairobi Stock Exchange as well as investors for decision making, legal and Policy formulation.

Biographie de l'auteur

Joseph Masinde is an accomplished Accounting and Finance Specialist.He is a Certified Public Accountant with ICPAK, Bcom(Accounting ) and Masters in Business Administration (Finance) of Egerton University.Currently, Kabarak University Accountant and Part-time Lecturer. Previously worked with Egerton University Sacco as CEO.

Les informations fournies dans la section « A propos du livre » peuvent faire référence à une autre édition de ce titre.

Éditeur
LAP LAMBERT Academic Publishing
Date d'édition
2013
Langue
anglais
ISBN 10 
3659364002
ISBN 13 
9783659364006
Reliure
Broché
Nombre de pages
84
Coordonnées du fabricant
non disponible
Personne responsable
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