Effect of Momentum on the Equity Returns in Kenya: A Review of Literature

Abstract

: This Paper review literature on momentum and equity returns, it focuses on theoretical review analyzing the main theories anchoring this study, namely Efficient Market Hypothesis (EMH), Behavioral Finance Theories, and Fama and French Theory. The paper further explores the concept of momentum and the concept of equity returns and finally the empirical studies of various studies and identifying the gaps in these studies.