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Actuarial Science Student’s Research Paper accepted in World Finance Conference

Michael Chuchu, a fourth year Bachelor of Business Science in Actuarial Science student at Strathmore School of Finance and Applied Economics due to graduate in June this year, is privileged to have his research paper accepted in the World Finance Conference 2016 in New York.  


Professionally Michael, who is working as an intern in an Actuarial Department at CIC Insurance group, has sat and passed 8 Core Technical (CT) exams (CT 1- CT 8) from the Institute and Faculty of Actuaries (UK). This is the highest achievable number of exams that can be done by an undergraduate student.


Michael’s research paper is titled; Inter-sector Volatility Spillover among Equities on the Nairobi Securities Exchange


The paper investigates the existence and magnitude of volatility spillovers among equity sectors on the Nairobi Securities Exchange. It involves grouping the NSE equities into broad sectors, and using an econometric model to evaluate the spillover of return volatility between one sector and another.


Based on the results, the biggest volatility spillover is from the commercial and services sector to the industrial sector. The results also show significant spillovers from the industrial and agricultural sectors to the financial and commercial and services sectors, as well as from the financial and commercial and services sectors to the industrial sector.


The research could potentially inform portfolio risk management and diversification strategies and decisions in the Kenyan market.


The conference considers papers in all the areas of finance, banking and economics. The conference will be held at St John’s University, Manhattan, New York between 29th and 31st of July, 2016


The Link to the List of the Accepted Papers- Random Order click here.


Michael likes playing football and indulging in bodybuilding activities.


Congratulations Michael on this achievement.