Master of Commerce Graduate Trio Bond and come up Trumps!

BY: .

Academic brotherhood got a master’s degree trio over rocky roads and on to the highway to academic success.

Mr Kudawashe Chipunza, Ms Lorraine Rupande and Mr Hilary Mugoto struck up a bond that proved to be the glue in seeing them all through to Master of Commerce cum laude degrees.

‘Though the journey was challenging, the master’s cohort cushioned me and I am grateful for the support from my friends,’ said Chipunza.

Chipunza’s thesis was titled: “The Impact of Internationalisation on Stock Volatility and Liquidity: Evidence from the Johannesburg Stock Exchange”.  The research investigated whether stocks on the Johannesburg Stock Exchange (JSE) exhibited an increase in share liquidity and lower volatility subsequent to listing on a foreign exchange. The study was supervised by Ms Kerry-Ann McCullough.

For Rupande, the fact that she did not have experience in statistic software programming vital for data analysis crucial for her research meant that she needed the help of her friends to guide her in this new skill.

‘The most significant hurdle in my research was programming,’ she said. ‘My research required that I analysed my data using the Eviews statistical software, however this software’s built in facilities were incompatible with the model I used so I had to write a programme code to use for this analysis.

‘The main problem was that I did not have any background in software programming so I had to invest a lot of time in learning how to do the programming in Eviews, with the help from my friends and supervisor. I can say this was a worthwhile investment and I acquired a skill that I can use for further research or to help others in that area,’ she said.

Rupande’s thesis was titled: “Positive Feedback Trading and Momentum Profits on the Johannesburg Stock Exchange (JSE)”. The research, supervised by Ms Ailie Charteris, explored Positive Feedback Trading, a trend-chasing investment strategy of buying shares when prices rise and selling when prices fall in the absence of supporting fundamental information.

Mugoto said having a plan which detailed the progress of his research coupled with the role of his supervisor, Ms Ailie Charteris, ensured he stayed on course.

‘I had this beautiful mind map of what I wanted to prove and the probable implications that my research was going to have in the field of finance. That motivated me and nurtured a desire to see all that come to fruition. However, the whole process was not without its challenges.’

Mugoto’s research was titled: “Investor Sentiment as an Explanation for the Size and Value Anomalies on the JSE”. The central focus of the research was on behavioural finance, more specifically, investor sentiment and its impact on the stock market.

 Thandiwe Jumo