Gatumo, Francis Mambo, PhD

Areas of interest/specialization: Finance


Telephone: 0722776095


Dr. Francis Mambo Gatumo is an Associate Professor of finance. My research interest is in the area of investments and behavior finance.….

Academic Degrees:

• DBA at California Miramar University in USA

• MBA at York University in CANADA

• Bachelor of Aommerce (Accounting option) at University of Nairobi


Journal Articles

• The role of Audit committees - Certified Public Accountants Journal

• Coauthored the Mabati Rolling mills case hosted in the European Case Clearing House (ECCH)

• Coauthored the Alpha Medical Manufacturers Ltd case- hosted by the European Case Clearing House (ECCH)

• Written the Athi River Mining ltd Case

• Coauthored the Magana Farm case

• Prepared the Athi River Mining Case

• Coauthored the National Oil Company of Kenya (NOCK) Case

• Coauthored Farmchem ltd Case

• Prepared teaching notes on Wanainchi Online Ltd, Nakumatt Supermarkets, Theta Ridge Coffee Ltd, Ecolab Ltd, Magana flowers Ltd and Mabati Rolling Mills Ltd

Current Journals:

Gatumo (2017). How do Public offerings perform in Kenya? An analysis of offer and closing prices. Journal of Business and management Volume 18 (1)

Gatumo (2017). What influences short run performance of initial public offerings in Kenya. Journal of Business and management. Vol. 19 (5)

Gatumo (2017). Do initial public offerings in Kenya outperform the market? A longitudinal analysis of returns. Journal of Business and Management Vol. 19(5)

Gatumo (2017). Secrecy in pricing of initial public offerings: An empirical review of Nairobi securities Exchange. Journal of Business and Management. Vol. 19(7).

Gatumo (2017). General elections and stock markets: Did August 2017 general elections in Kenya influence the stock market? Journal of Business and Management Vol. 19(11)

Gatumo (2019). Impact of March handshake on the Capital Markets in Kenya. Journal of Business and Management Vol 21(1)

Gatumo & Omukaga (2019). The Dividend Puzzle: Evidence from listed construction and Allied firms in Kenya. Journal of Business and Management Vol 21(10

Gatumo & Omukaga (2019). A review of free cash flow Hypothesis on the investment firms listed in Kenya. Journal of Business and Management. Vol 21(1)


• Introduction to Finance: Theory and Practice (with printer)

• Introduction to Pensions (on going)

Courses Teaching (courses taught)


• Doctor of business administration (dba)

• Seminar in finance (fin 7010)


• Managerial finance (fin 6000),

• International financial markets (fin 6030)


• Pensions and insurance (fin 4120)

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