EPH - International Journal of Business & Management Science
Market efficiency hypothesis suggests that markets are rational and their prices fully reflect al... more Market efficiency hypothesis suggests that markets are rational and their prices fully reflect all available information. Due to the timely actions of investors prices of stocks quickly adjust to the new information, and reflect all the available information. So no investor can beat the market by generating abnormal returns. But it is found in many stock exchanges of the world that these markets are not following the rules of EMH. The functioning of these stock markets deviate from the rules of EMH. These deviations are called anomalies. Anomalies could occur once and disappear, or could occur repeatedly. This literature survey is of its own type that discusses the occurrence of different type of calendar anomalies, technical anomalies and fundamental anomalies with their evidences in different stock markets around the world. The paper also discusses the opinion of different researchers about the possible causes of anomalies, how anomalies should be dealt, and what ere the behaviour...
EPH - International Journal of Business & Management Science
Why do rockets need so much power to lift off? Why do humans walk on two legs? To answer these qu... more Why do rockets need so much power to lift off? Why do humans walk on two legs? To answer these questions, we are likely to call upon the theories of gravity and evolution. These theories are generally held in high regard for their powers of explanation and prediction, but what is it that gives them their authority? In fact, what is a theory? Furthermore, what is the relevance of accounting theory to accounting?
The International Journal of Business & Management
This study focused on one dimension for commercial banks to go into M&A; that is risk diversifica... more This study focused on one dimension for commercial banks to go into M&A; that is risk diversification and the effect of these factors on the financial performance of commercial banks listed in the NSE. The study purpose was to assess the effect of mergers and acquisition dimensions on financial performance of commercial banks listed at Nairobi Securities Exchange, Kenya. The study was guided by the following specific objectives; to, evaluate risk diversification on financial performance. This study employed an explanatory research design. The study population comprises of commercial banks that merged or were acquired between 2010 and 2020. These are 5 commercial banks in total. A census sample was employed to select all the banks targeted. This study used secondary data which was collected through the use of data sheets. Data analysis involved analysis of quantitative data using descriptive statistics, namely percentages, mean, standard deviation. Inferential statistics namely simple regression and Pearson's correlation were used to analyze the data. Simple Regression analysis was used to explore the relationship between the variables. The results were presented using tables and figures. The study will be of great significance to, the Government, Policy Makers, Management of Organizations, Investors and Scholars. The model indicated a significant relationship between Risk diversification and financial performance of the listed commercial banks. The study concludes that risk diversification enhances financial performance of commercial banks listed at Nairobi Security Exchange, Kenya. The study recommended that management of banks participating in M&A should entrench quality of management for enhanced diversification.
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Papers by joshua wafula