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A Comparative Study of the Effects of Foreign Remittance and Foreign Aid on Kenya’s Economic Development
No full textA Report Submitted to the School of Humanities and Social Sciences at the United States International University- Africa in Partial Fulfillment of the Requirements for the Award of a Degree of Masters of Arts in International RelationsForeign aid (Official Development Assistance) has conventionally been an indispensable source of development resource for Kenya. Consequently, since the country’s independence both bilateral and multilateral donors have extended ODA to Kenya in terms of either grants or loans. Nonetheless, these resources have been ineffectual in precipitating real development, besides being highly volatile. In recent years, international remittance inflows have been increasingly considered as imperative source of resources for development. Remittances enhance economic growth by establishing means through which recipient Kenyan households could engage in risky ventures that have high profitability potential.
Not surprisingly, Diaspora remittance is considered central to Kenya’s development agenda and Diaspora engagement in Kenya’s financial sector and it is one of the hallmarks of the country’s development goal under Vision 2030 agenda. Consequently, debates have risen surrounding the issue as to which one between ODA and remittances offer Kenya the most resilient source of development finance. Nonetheless, no definitive study has been conducted to settle the issue.
The purpose of this study is to compare and analyze the effects of foreign remittances and foreign aid on the economic development of the recipient states. The study intends to focus on three research questions, namely; (i)What has been the effect of foreign aid on Kenya’s economic development. (ii) What has been the effect of remittances on Kenya’s economic development? (iii) How does foreign aid compare with remittances in its effect on Kenya’s economic development
The Effect Of Organizational Factors On The Implementation Of Strategy In Small And Medium Enterprises: A Case Study of SME’s In Nairobi County
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirements for the Masters of Business Administration (MBA)The general objective of this study was to analyse the effect of organizational factors on the implementation of strategic plans in SME’s in Nairobi Central Business District. Strategic management process is very important for Small and Medium Enterprises that want to achieve high performance in a highly transparent world today. The context of the study was to establish the extent to which organizational culture influence implementation of strategic plans in SME’s in Nairobi Central Business District. To examine how organizational structure of the SME’s influence realization of efficiency in implementing strategic plans. To determine the influence of corporate leadership on strategic plan implementation in the SME’s in Nairobi Central Business District.
A descriptive research design was used to conduct the study and help solicit information organizational factors that affect SMEs. A descriptive research is that which describes an occurrence, and is used to document and describe the phenomenon of interest. For this study the target population was the employees of various SMEs located within the CBD. According to the African SME report, there were approximately 30,252employees within the CBD as of December 2016. The sampling technique used was stratified sampling technique on a sample size of 100 respondents drawn from various industries. This figure was arrived at using Yamane’s formula. From the sample of 100 respondents, only 89 responds were collected giving this study a response rate of 89%. The quantitative data was analysed using Statistical package for social sciences (SPSS). The study used descriptive data analysis techniques as well as inferential statistics such as Pearson’s Correlation and Multiple Regression which tested the relationship between the dependent variable and the independent variables.
The study established that culture plays a major role in successful implementation and it creates a link between the strategic fit and the culture in the organization. It was also noted that majority of the elements of culture played a key role in embracing changing business environment which is a catalyst for the need to implement strategy for the organization to remain relevant in the industries in which they operate. Analysis of the second objective that related organizational structure and strategy implementation revealed that when a structure is in place, it encourages employee participation within the process and thereby making implementation relatively smooth. A clear structure was also seen to enhance responsibility and roles distribution effectively during strategy implementation by virtue of all employees knowing exactly what responsibility lies of their shoulders. The third
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objective clearly shows that an organizations leadership is the key pillar when it comes to maters strategy. The leadership is involved with deciding the strategy that should be implemented and communicating it throughout the organization to ensure everyone’s tasks are aligned to the vision and mission of the organization. Corporate leadership was found to be rigid when it came to reacting to unexpected circumstances that may occur to deter the organization from the intended direction. There was a strong positive correlation between strategy implementation and corporate leadership.
The study concluded that there is a strong alignment between aspects of culture such as values, traditions and ethics, with changing organization needs that in turn provide direction and promote strategy implementation. The study concludes that various SMEs respect the different individual cultures which was clearly seen by the diverse range of opinions and ideas. It concludes that strategy follows structure. This study concludes that corporate leadership has a major role to play in strategy implementation in SMEs. There needs to be more involvement for there to be successful match between the organizations capability and strategy coupled with the right spirit and vision to inspire the followers and enhance effectiveness.
This study recommends that SMEs instill culture among its employees to foster success in implementation. It also deemed it crucial for organisations to have clearly defined structures that facilitate all aspects of strategy incorporated in the structure to advice and outline the roles of all employees in the task of successful strategy implementation. There is also need for SMEs leadership should take the lead role in giving direction and facilitating flow of information while also evaluating performance during strategy implementation to enhance the chances of a successful outcome
The Effect of Foreign Exchange Risk Management on the Financial Performance of Commercial Banks in Kenya: A Case of Stanbic Bank
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Masters in Business Administration(MBA)The objective of the study was to establish the effect of foreign exchange risk management on the financial performance of commercial banks in Kenya. The objective of the study were: What are the different methods of foreign exchange risk management used by commercial banks? What is the effect of foreign exchange risk on financial performance of commercial banks in Kenya? What are the methods used by commercial banks to predict forex and to manage the effect on financial performance?
The research used a descriptive research design. The target population comprised 100 employees in finance and treasury at Stanbic bank Kenya. The study used applied the sample size formula and arrived at a sample size of 80 employees out of which only 70 responded. The study made use of secondary data. The multiple linear regression analysis was applied to examine the extent of influence of the independent variable on the dependent variables.
The findings on the first objective revealed that majority agreed that the firm sets extensive budgeting systems to handle currency risk projections, it was also revealed that the institution has an up-to-date system that helps in handling currency risk projections. The study was set to financial instruments and techniques used by the bank to hedge against foreign exchange risk. The findings revealed that the frequently used hedging techniques are Cross-Currency Swaps, Options, and price adjustments.
The findings on the second objective revealed that majority agreed that liquidity risk has an effect on return on assets and return on equity, sound and dynamic financial risk management practices has translated into competitive advantage, and they apply more weight to assess the risk exposure during decision making. In addition, it was also revealed that the firm faces both internal and external financial risks.
For the third objective on the methods used to predict and manage foreign exchange, the findings revealed that majority frequently used foreign exchange exposure theory to manage foreign exchange. On the performance of the bank the findings revealed that most of the respondents agreed that the bank had the required level of capital to enable it withstand risks, management is efficient to determine the level of costs and profitability, and has seen increased ROE and ROA over the years. A correlation analysis was done between financial performance and methods of foreign exchange risk management, and methods used by commercial banks to predict forex and manage the effect on financial
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performance revealed that there was a significant positive relationship between performance and Risk management
The study concluded that uncertainty on the firm often carrying out foreign exchange exposure projections is an issue that firms need to address with immediate urgency. Stanbic bank is committed to hedge against forex risk by utilizing techniques such as Cross-Currency Swaps, Options, and price adjustments. It was also concluded that despite forex risk being an issue in the financial sector, liquidity risk also has an effect on return on assets and return on equity. The study also concluded that the bank has also increased performance and this could be as a result of the set funds to enable it to mitigate the risks, management is efficient to determine the level of costs and profitability,
The study recommended that the banks need carry out regular foreign exchange exposure projections in order to minimize some of the risks associated with foreign exchange risks. The firms also need to utilize the financial instruments and techniques effectively in order to better hedge against foreign exchange risk. The institution also needs to put special emphasis on liquidity management in order to minimize its risks as it has an effect on return on assets and return on equity.There is a need for education on the methods used to predict and manage foreign exchange and select the most appropriate method. Banks need to undertake effective cash management in order to have the required level of capital to enable it withstand risks.
For further studies there is a need to undertake a similar study in other commercial banks so as to be able to generalize the findings
Factors Influencing Consumer Choice of Islamic Insurance (Takaful) In Kenya
No full textA Research Proposal Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Masters in Organization Development (MOD).The purpose of this study was to determine factors influencing choice of Takaful insurance in Kenya. The study was guided by the following research questions: How does customer awareness influence customers’ choice of Takaful insurance? How does insurance price influence Takaful insurance? How does religion influence choice of Takaful insurance?
This study adopted the descriptive survey research design. The study had a population of 10, 112, and utilized stratified sampling technique to pick a sample size of 384. A closed ended structured questionnaire was used to collect primary data. Data was analyzed using for descriptive statistics (frequencies and percentages) and inferential statistics (correlation and regression) using Statistical Package for Social Sciences (SPSS) version 22. The findings have been presented using tables and figures
The findings on influence of customer awareness and choice of Takaful insurance revealed the existence of a positive relationship between customer awareness and choice of Takaful insurance, r (0.775); p < 0.05. The study looked at choice of Takaful, customer awareness of Takaful insurance option; knowledge of insurance options, liking of insurance options, and customers’ conviction of Takaful insurance. All these components were statistically significant
The second research question examined how insurance pricing influences customers’ choice of Takaful insurance. The findings show there exists a significant relationship between insurance price and choice of Takaful, r (0.695); p < 0.05. The study examined price perceptions on choice and price competition on choice of Takaful insurance. All these components were statistically significant.
The third research question examined the influence of religion on choice of Takaful insurance. The findings show that there exists a significant relationship between religion and choice Takaful insurance. The influence of religion considered Sharia compliance on issues like riba, Islamic brotherhood, and cooperate trust. All these components contributed to the statistically significant relationship between religion and choice of Takaful
This study concludes that there exists a statistically significant relationship between customer awareness and choice of Takaful. Knowledge enhanced customers’ ability to comprehend Takaful products and options as compared to other conventional insurance products. This study concludes that perception also plays an important role for customers choosing Takaful insurance.
This study concludes that price perception and price competition were statistically significant in enhancing customers’ choice of Takaful insurance. Price perception determine whether customers rate the insurance premiums as affordable, cheap or expensive. When prices insurance prices are perceived to be expensive, customers’ choice of insurance premiums diminish, while when the perceived price of insurance of affordable, customers’ choice for insurance increases. This study also concludes that the teachings of Islam, particularly on riba (interest) significantly influence customers’ choice of Takaful insurance. Most customers who use Takaful insurance are doing so in compliance to Shariah principle on riba. Similarly, most customers who choose Takaful insurance are doing so in compliance to Islamic teaching on brotherhood and cooperate risk, rather than other fundamentals as provided by conventional insurance firms
The study recommends that management at Takaful insurance should put mechanisms in place to enhance current customers, and potential customers’ knowledge on Takaful insurance benefits, options, risks, in addition to how Takaful principles work. There is also need to enhance awareness of customers’ perception that Takaful is only an Islamic insurance entity. This study recommends that to enhance uptake of Takaful insurance, management at Takaful insurance of Africa should device mechanisms for channelling positive Takaful price perception at the market place, and to potential customers’. There is also need to enhance competitive pricing of Takaful insurance premiums to be in line with what other conventional insurance firms are offering on the market. Finally, this study recommends that management at Takaful Insurance of Africa should develop mechanisms of reaching out to other religious groups outside Islam. To effectively compete and develop a wide pool of heterogeneous clients, the organization should reach Christians that are the majority on the components of insurance options that Takaful is very competitive compared to conventional insurance
Factors That Affect Employee Engagement: A Case Study of National Construction Authority (NCA)
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment for the Degree of Masters in Business Administration (MBA)The purpose of the study was to investigate factors that affect employee engagement in National Construction Authority (NCA). The study was guided by three research questions as follows; What is the effect of organizational communication on employee engagement at NCA? What is the effect of supervisor feedback on employee engagement at NCA? What is the effect of organization policies and practices on employee engagement at NCA?
The study employed a descriptive research design. The target population for the study was four hundred and twenty three (423) employees of NCA working both at the headquarters and regional offices. The study used probability sampling techniques namely stratified and simple random sampling techniques to select a sample size of two hundred and six (206). The main data collection tool was structured questionnaire. Collected data was analyzed using Statistical Package for Social Sciences (SPSS 23). Data was analyzed using descriptive statistics like percentages and frequencies. Analyzed data was presented in form tables and pie charts.
On organizational communication and employee engagement, the study found that in downward communication, internal memorandum and emails were the most common means of communication, followed by team briefing, company reports and company newsletters. In upward communication, emails were the most common means of communication followed by use of employee survey, staff suggestion scheme and departmental meetings. In horizontal communication, departmental meetings were the most common means of communication followed by telephone, annual employee forum and internal memorandum and emails. It was found that NCA had open communication channels and organizational communication affected employee engagement since good communication influenced the level of employee efficiency, improved work relations, increased employee engagement, commitment and performance, which in turn influenced the level of employee productivity.
On supervisor feedback and employee engagement, the study found that the most common form of supervisor feedback mechanism was formal feedback while the least common was informal feedback. Feedback was given using different means including emails, telephone, social media, meetings among others. Feedback was delivered in the right language and managers always articulated performance expectations and outcomes clearly. Suggestions were usually invited during feedback sessions and employees were always given an opportunity to express their views. Supervisor feedback affected employee engagement at NCA as it motivated and empowered employees, enhanced employee engagement as well as employees performance.
The study found that organizational policies and practices affected employee engagement as they promoted innovativeness and talent development and that management was always concerned with employee’s welfare, valued and treated employees respectfully. However, only a few of the respondents agreed that employees were usually involved in decision making or praised by supervisors when they did well or that company values, policies and practices encouraged employee engagement or consultation done before key and major changes or decisions are made. The study also found that supervisors involved employees in development of policies and management provided them with equal opportunity for advancement and growth.
The study concludes that organizational communication, supervisor feedback, organizational policies and practices significantly affect employee engagement. High engagement levels transform to better productivity, when employees are engaged at work, they feel a connection with the organization, as they believe that the work they’re doing is important and therefore work harder. Factors such as involvement in decision making, communication channels, supervisor feedback mechanism, equal career advancement and training opportunities and how the organization promotes innovativeness all had an influence on employee engagement.
The study recommends the following: the level of bureaucracy especially in organisational communication at NCA should be broken to allow more open communication. Secondly, for proper employee engagement and employee performance, the organisation should establish regular and timely two-way feedback mechanism so that the needs of the organization as well as the employee expectations can be met. Lastly, the organizational policies and practices should be flexible enough to allow employee consultation and involvement
Extent Of Customer Satisfaction With Mobile Banking: A Case Study of Barclays Bank of Kenya’s Hello Money
No full textJournal ArticleThe purpose of this study was to analyse extent of customer satisfaction with mobile banking: a case study of Barclays bank of Kenya’s hello money. The study adopted a descriptive research design. This study focused on one of the industry leaders in Kenya’s banking industry: Barclays Bank of Kenya. This study focused on the 119,611 Barclays Bank of Kenya’s customers who have signed up for Hello Money. The preferred data collection instrument was the questionnaire and it was used to collect primary data. SPSS 17 was the tool through which data was converted into percentages and frequencies were executed.
The research findings established that there was wide acceptance for this mode of self-service technology. The study concludes that system availability is poor as the customers were not able to transact at their convenience, but rather when the system is available. The study concludes that there is a significant level of disinterest in the contact centre, with customers not having feedback to their perception of the quality of issue resolution, quality of advice, promptness of answering phone calls, promptness of email responses and overall professionalism of the contact centre staff. The study concludes that system availability is poor as the customers were not able to transact at their convenience, but rather when the system is available.
The study concludes that there is a significant level of disinterest in the contact centre, with customers not having feedback to their perception of the quality of issue resolution, quality of advice, promptness of answering phone calls, promptness of email responses and overall professionalism of the contact centre staff.
There is need to ensure that it offers the ubiquity that it sells by increasing its uptime. More emphasis needs to be placed on training users; There is need to review the transaction speeds offered; whether too fast or too slow, or whether they should offer different options The contact centre should complement the adoption of technological self-service channels
Effect of Social Media Marketing On Consumer Loyalty in the Banking Industry: A Case of Equity Bank
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree Masters in Business Administration (MBA)The purpose of this study was to evaluate the effectiveness of social media marketing on customer loyalty at Equity Bank in Kenya. This study was guided by the following objectives; to determine the effects of social media tool used on consumer’s brand loyalty, to determine the elements consumers look for in social media marketing message and to determine how social media can be used as a means to increase consumer loyalty to brand. The study employed a descriptive survey design. Purposive and simple random sampling was adapted to select the 138 respondents although only 94 responded. The data collected was both quantitative and qualitative in nature. The data was analysed using descriptive statistics by employing Statistical Package for Social Scientists and presented using frequencies tables, bar graphs and tables.
On analysis of the first objective it was established that majority use social media site to get answers, and use of brand positioning in social media has helped many remember the brand. It was also established that social media site has enabled many users create a strong bond with equity bank as well as exchange information with other online users. Use social media sites to regularly has enabled many respondents to engage with online friends and meet new people. Social media site has also influenced brand awareness, communication with customers. Online reviews have also affected perception on product quality.
On analysis of the second objective majority of the respondents strongly agreed that they use Equity social media site because it enables them to exchange information with other online users along common areas of interest e.g. through online chats, it was also established that and equity bank promotes its products and services online. In addition, respondents agreed that they did not like using Equity social networking site because it was not easy to interact with, the message is not clear and understandable, and they get recommendations/views from friends first before buying or using any product or services.
On analysis of the third objective it was established that majority of the respondents strongly agreed that Equity offers timely feedback on their social media site, Equity also offers transparency on their social media site and it was easy to access equity social media. Many also claimed to use Equity banks social media site because they post effective informative. It was also noted that the bank has an online reward program, and many preferred online friends to equity social media site because they offer their online freebies/discounts. Many use of equity’s social media has enabled many create a social network, although information gotten from equity’s social media site is trustworthy.
The study concluded that Social media site offer valid information to consumers especially from an organization site this has also aided in brand positioning in social media that has helped respondents remember the brand. Social media site help create a strong bond with organizations and facilitate exchange of information with other online users. Equity bank use social media site to exchange information with other online users along common areas of interest. In addition, recommendations/views from friend forms the first area of reference before buying or using any product or services. Social media sites are timely, transparency and easy to access. Many organizations also use social media site because they post effective informative and use of equity’s social media has enabled respondents create a social network.
It was recommended that Institutions need to continuously use Social media site to offer valid information to consumers especially from an organization site. This should be used to create a strong bond with organizations. Equity bank need to ensure that the information available is relevant so as to facilitate exchange with other online users. The bank also need to ensure that the site is easy to navigate and download content, as well as prompt feedback to the consumer. The bank need to continuously utilize social media sites due to their timeliness, transparency and ease of access. The firm also needs to utilize social media site to post effective information and use of equity’s social media has enabled respondents to create a social network so as to attract more attention from other social media users. For Further Studies it was recommended that there is a need to expound this study to other banks so as to be able to generalize the findings
Influence of Information Communication Strategies On Business Process Management: A Case of M-KOPA Solar Ltd
No full textA Research Project Report Submitted to Chandaria School of Business in Partial Fulfilment of the Requirement for the Degree of Master of Business Administration
(MBA)The purpose of this study was to determine the influence of information communication
strategies on business process management. This study was guided by the following
questions: How does emerging technologies influence business process management? How does social media strategies influence business process management, and finally, what influence does business automation have on business process management?
The descriptive survey research design was adopted for this study. The study had a
population of 104 out of which stratified sampling was used to select a sample size of
respondents. A structured questionnaire was used collect primary data which was analyzed through descriptive and inferential statistics using Statistical Package for Social Sciences (SPSS) version 22 which is the latest data analysis tool on the market. The analyzed data has been presented using tables and figures.
The first research question sought to determine the influence of emerging technologies on business process management. The findings show the existence of a positive relationship between emerging technologies and business process management. The study examined cloud computing, near field technologies, virtual reality, and ambient intelligence, which contributed to the relationship significantly.
The second research question sought to determine the influence of social media strategies on business process management. The findings show that there exists a significant relationship between social media strategies and business process management. The study examined the use of Facebook, Twitter, LinkedIn and YouTube and found they contribute significantly to business process management at M-KOPA.
The third research question sought to determine the influence of business automation on business process management. The findings show the existence of significant relationship between automation and business process management. The study examined automated workflow management, process efficiency and process effectiveness contributed significantly to business process management
This study concludes that emerging technologies examined in this study including cloud
computing, near field technologies, ambient intelligence and virtual reality are significant
in advancing business process management. This study concludes that social media
strategies examined including Facebook, Twitter, LinkedIn, and YouTube significantly contributes to business process management. Facebook and Twitter enables organizations to advertise their products and services to clients that could not be reached with traditional channels like TV and radio. This study concludes that business automation which included workflow management and process management significantly contributed to business process management. Workflow management enables organizations to integrate different components of organization operations into singular modules thus enhancing efficiency in business process management.
This study recommends that management at M-KOPA should invest more in emerging
technologies especially in cloud computing as this will enable the organization collaborate with other designer’s similar products and services in the global environment and exchange ideas on how to drive efficiency while lowering the cost of doing business. Secondly, this study recommends that M-KOPA should invest more in Facebook and Twitter content management particularly in passing information concerning M-KOPA products and services. Social media content should be developed in a manner that advances organizational strategic objectives, particularly in simplifying business process management. Finally, this study recommends that M-KOPA should enhance the process of full automation of product assembly lines. This will cut down the cost of out-sourcing production to other firms. Automation will also enhance workflow efficiency, and process management that is essential for cost reduction in business process management. Investing in workflow systems will eliminate traditional legacy systems that reduce organizations’ competitiveness on the global market
Factors Influencing Sustainable Competitive Advantage in the Fast-Moving Consumer Goods Sector: A Case of Bidco Africa
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The purpose of this study was to investigate Factors influencing Sustainable Competitive Advantage in the Fast-Moving Consumer Goods sector: A case of Bidco Africa. The study was to be guided by the following research objectives: To find out if Advertising helps FMCG companies to attain a sustainable competitive advantage in the industry; To identify if Packaging is a contributing factor for a sustainable competitive advantage to be met; To examine if Branding leads to the attainment of a sustainable competitive advantage. The study adopted a descriptive research design. The sampling technique was the systematic random sampling, whereby every 4th case of the respondents was selected for inclusion in the sample. A sample size of 30 respondents was considered for the study. The study implemented primary data collection and the pre-testing of the questionnaire was done using a small sample of 30 respondents. Quantitative data was collected, coded and entered into the computer for analysis using the Statistical Package for Social Sciences (SPSS). Descriptive statistical methods such as mean, frequency, percentages were used. In addition, regression analysis was also used. The study found that BIDCO brand in terms of quality assurance, taste and odor, and manufacturer’s reputation was likely to positively contribute to the company sustainable competitive advantage. This was because these were the intangible aspects that the majority of the customers used to differentiate BIDCO products with the rest of the FMCG players. It is concluded that the three factors (advertising, packaging and branding) significantly influenced the sustainable competitive advantage of BIDCO. More specifically, advertising contributed the most to the sustainable competitive advantage of BIDCO followed by packaging and branding respectively. The most significant factor influencing sustainable competitive advantage at BIDCO is advertising, followed by packaging and branding respectively. The study recommends that the management of BIDCO should segment their customers and use the specific channel of communication to advertise to respective segments. BIDCO management should continuously study customer tastes and preferences to inform their packaging. BIDCO management should also allocate adequate resources to drive their brand in the FMCG sector
Effects of Stock Split Announcements on Stock Prices of Public Quoted Firms in Kenya
No full textA Research Project Report Submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters in Business Administration (MBA)The general objective of this study was to examine effects of stock split announcements on stock prices of public quoted firms in Kenya. The purpose of this study was to establish the effects of stock split announcement on stock prices of public quoted firms in Kenya. The study was guided by the following research questions; does stock split announcement result in change of share price of public quoted firms in Kenya? and What is the effect of stock split announcement on the stock volumes of public quoted firms in Kenya?
Descriptive research design was used seeking to explain the relationship between stock split announcement and stock prices as well as stock volumes. Event study methodology was employed to determine the effects of the split announcement. Stock price changes were analysed to with an aim to determine if stock splits announcement bring about any adjustment or changes in the Kenyan market. Daily stock price and volumes traded were were recorded during the study period of 90 days comprising of 45 days before the split and 45 days after the split.
The study established that announcement of stock split positively impacts on the share prices but seldomly affects volumes traded. The study recommends that CMA should consider having a policy to encourage firms to split their shares to increase their liquidity and encourage retail investors to be active in the market. More researches should be encouraged in this area and NSE should avail historical information freely which may also encourage transparency and confidence in the market