Dr. Munene Laiboni


Director, Research Support and Dissemination

E-mail Address


Academic Qualification

  • PhD – Finance (Kenyatta University)
  • Master of Business Administration – Finance (Bowling Green State University)
  • Bachelor of Science – Actuarial Science (Maseno University)

Membership of Professional Bodies/Associations

  • Society for Financial Econometrics


Dr. Munene Laiboni is a Lecturer of Finance and Econometrics at the School of Business, KCA University. He holds a PhD in Finance from Kenyatta University, Nairobi, Kenya, an MBA in Finance from the Allen W. and Carol M. Schmidthorst College of Business at Bowling Green State University, Ohio, USA, and a Bsc in Actuarial Science from Maseno University, Maseno, Kenya.

Dr. Laiboni has a deep passion for research and outreach and has been instrumental in establishment and management of the research function at KCA University. He has pioneered processes for assurance of quality in graduate students’ dissertations, organized and facilitated several events for capacity development in research for both faculty and graduate students, and contributed to the establishment of the School of Graduate Studies as well as the Division of Research, Innovation and Outreach at KCA University.

His research is largely focused on empirical asset pricing, financial econometrics, development finance, stochastic volatility modelling, and leveraging on impact evaluation methodologies in tackling socio-economic challenges to actualization of Sustainable Development Goals in the Global South.

He is proficient in STATA, IBM-SPSS, R (R Studio), and N Vivo.

Selected Publications: Books, Refereed publications & Non Refereed publications

Laiboni, G.M., (2021). “An Error Correction – Vector Autoregressive Moving Average Approach to Forecasting the Term Structure of Interest Rates in Kenya  (Upcoming)

Laiboni, G.M., Simiyu, C. (2021). “Does Liquidity Moderate the Speed of Transmission of Own Shocks and Volatility? Evidence From the Nairobi Securities Exchange” (Under Review)

Laiboni, G.M., and Sang, P.K (2021). Volatility Spillover influences and Response Asymmetries of Interest Rates, Exchange Rates, and Banking Stock Returns: Evidence from Banks Listed in the Nairobi Securities Exchange.  International Journal of Interdisciplinary Research in Social Science 1(1), XV – XXI

Laiboni, G.M., Simiyu, E. and Korir, J. (2020). Dynamic linkages of stock market sectors: evidence from the Kenyan stock market. Journal of Finance and Economics, 8(1), 33-39.

Laiboni, G.M., & Jagongo, A. (2015). The Relationship between Inflation Pressure and Interest Rates: An Empirical Analysis of the Fisher Hypothesis in Kenya. European Journal of Business and Management, 7(35).

Conferences & Chapters

  • Panel Data Analysis Workshop, held on 18th – 21st November 2019 at Kenya School of Monetary Studies. Organized by KCA University
  • Laiboni, G.M., Simiyu, E. and Korir, J. (2019). “Investigating the Transmission of Shocks and Volatility between the Stock and Foreign Exchange Markets in Kenya Proceedings of the 1st International Business Research and Industrial Conference, 318-330. held on 20th – 21st June, 2019 at North Coast Beach Hotel. Organized by Kenyatta University.
  • Time Series Analysis with Applications in Macroeconomics and Finance Workshop, held 26th – 30th November, 2018 at Strathmore University. Organized by Strathmore University
  • International Conference on Accounting, Finance and Information Technology, held 17th – 19th October, 2018 at Kenya School of Monetary Studies. Organized by KCA University
  • Panel Data Analysis Workshop, held 9th – 11th July 2018 at Kenya School of Monetary Studies. Organized by KCA University
  • Carnegie African Diaspora Fellowship (CADF) Research and Supervision Workshop Series, held July 19th, 21st & 26th and August 1st & 15th 2017. Co-organized by KCA University and Daystar University
  • 2nd KCA University Faculty Colloquium, held 17th March 2017 at KCA University
  • Qualitative and Quantitative Data Analysis Workshop, held 28th February – 3rd March 2017 at Daystar University. Organized by Daystar University
  • International Conference on Accounting and Policy held 7th – 9th September, 2016 at Safari Park Hotel. Organized by KCA University
  • Integrated Public Use Microdata Series (IPUMS) Demographic Health Survey (DHS) data use training Workshop, held 18th – 19th July 2016 at African Population and Health Research Center. Organized by University of Minnesota
  • Successful Grant Proposal Writing Training Workshop held 14th – 16th September 2015 at African Population and Health Research Center. Organized by African Population and Health Research Center
  • 1st KCA University Faculty Colloquium, held 20th March 2015 at KCA University
  • 2nd Strathmore University International Mathematics Research Conference, held 23rd – 27th July 2012 at Strathmore University. Organized by Strathmore University


Lagged Disturbances and Volatility of Sectoral Returns in the Nairobi Securities Exchange, Kenya.

Available athttps://ir-library.ku.ac.ke/handle/123456789/21434

Dr. Munene Laiboni