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Role of Financial Institutions on Growth of Small and Medium Enterprises in Japan
No full textSmall-scale enterprises highly influence the growth of a country. Small-scale enterprises are fundamental in creating employment opportunities for many people, notably in rural areas. Consequently, the study was determined to examine the role of financial institutions in the growth of small and medium enterprises in Japan. The study did a literature review to explore the findings from the preceding studies. The study findings from the majority of the studies showed that financial institutions play a critical role in the growth of small and medium enterprises. The financial institutions provide services and loans that spur the growth of small and medium enterprises. In addition, the financial institutions are involved in providing the startup capital and this increases the sustainability of the small firms. In some instances, the financial institutions provide capacity building to the small enterprises, increasing their skills and knowledge in the management process. The small-scale enterprises encounter many difficulties and the financial instructions become a channel for accessing funds. The factors that limit small and medium enterprises from accessing the loans from the financial institutions is mainly lack of collateral. The study concluded that financial institutions determined the growth of small and medium enterprises in Japan to a large extent. The study recommended that drastic and effective financial policies which directly increase accessibility to available credits from financial institutions ought to be set in Japan. The government needs to sale up a framework that will make the financial institutions increase their lending to the small and medium enterprises. A specialized borrowing system needs to be developed in the financial institutions to carry out small-scale lending functions.
Keywords: Financial institutions, growth, small scale enterprises, Japa
Moderating Effect of Financial Innovations on the Relationship Between GDP Per Capita and Financial Performance of Commercial Banks in Kenya
No full textProfitability of commercial banks in Kenya have been declining since 2010 which was largely attributed to macro-economic factors, fiscal policies introduced by central bank of Kenya and market activities such as issuance of bonds and capping of interest rates. There has also been increased integration due to embracement of financial innovations in the banking sector however the moderating effects of financial innovations on the relationship between GDP per capita and financial performance is still uncertain. The objective of this study was to investigate the moderating effect of financial innovation on the relationship between GDP per capita and financial performance of commercial banks in Kenya. The study was based on two theories: Keynesian Economics theory and Constraint Induced Financial Innovation Theory. The study utilized secondary data for 10-year period as from 2011 to 2020. The target population of the study was 42 commercial banks that are licensed and supervised by the Central Bank of Kenya. Secondary panel data on financial performance of Commercial Banks was obtained from the individual institutions’ financial reports while data on macroeconomic factors was obtained from both Central Bank of Kenya and Kenya National Bureau of Statistics. Return on assets was used to measure financial performance. The study found a significant and positive relationship (b=0.594, t=2.939, p=0.022) between GDP per capita and ROA. The study found no moderating effect of financial innovations on the relationship between GDP per capita and financial performance of commercial banks. The study recommends that banks should implement the highest degree of innovations, which will enable them achieve very high ROA.
Keywords: Financial Innovations, GDP per capita, Financial Performance, Commercial Banks, Moderating effect
Safaricom Limited’s Mobile Money Services and Access to Trade Credit by Microenterprises in Nairobi City County Kenya
No full textThe purpose of this study was to determine the impact of mobile money services on access to trade credit by microenterprises in Kamukunji market, Nairobi City County, Kenya. The specific objectives of the study were; to assess whether digital payment-buy goods application (till number), saving and loan product (mshwari), mpesa for business application, pochi la biashara application have influence on access to trade credit by microenterprises in Kamukunji market. The study was guided by; Technology Acceptance theory, Unified Theory of Acceptance and use of technology, Diffusion innovation Theory and Technology, organization and Environment theory. The study employed a descriptive research approach and targeted 4,080 registered microenterprises in Kamukunji Market, Nairobi City County as per the City County Business Register of 2021. The sample size of the study was 351 microenterprises. A self-administered questionnaire was employed for the study's primary data. Data analysis was aided by SPSS using both descriptive statistics and inferential statistics. The results were displayed through tables and charts. The findings demonstrated that, savings and loan service, digital payment service, mpesa for business and pochi la biashara jointly explained 82 percent of the variation in access to trade credit among businesses in Kamukunji market. The study also established positive and significant relationship between all the independent variables and access to trade credit among businesses in Kamukunji market. The study concludes that Safaricom Ltd mobile money services have significant effect on access to trade credit by microenterprises in Kamukunji market, Nairobi City County Kenya. The study thus recommends that businesses in Kamukunji County and other microenterprises in other counties should strive to embrace Safaricom Ltd mobile money services such as savings and loan service, digital payment, mpesa for business, pochi la biashara since they enhance access to trade credit for the businesses. There is need to do further studies in area related to cost of accessing trade credit under the fintech firms and huge data available for assessing creditworthiness of borrowers.
Keywords: Mobile Money Services, Savings and loan, Digital payment, Mpesa for business, Pochi la biashara
Leadership Style and Financial Performance of Commercial Banks in Kenya
No full textThis study aimed at establishing the influence of leadership style on the financial performance of commercial banks operating in Kenya. The study adopted a positivist philosophy, correlational and cross-sectional research deigns and a target population comprising management staff working in commercial banks. 385 respondents were selected from 10,395 management staff. Primary data was collected using structured questionnaires with data being analyzed using both descriptive and inferential statistics. Parametric test statistics was adopted to establish the significance influence of variable effect at 95% level of significance as well as to test the study hypothesis. The regression of coefficients indicates that transformational leadership has a positive and significant partial effect on financial performance of commercial banks in Kenya with Democratic Leadership having a positive and significant partial effect on financial performance of commercial banks in Kenya. The study also shows that autocratic leadership has a positive and significant partial effect on financial performance of commercial banks in Kenya while Laissez-Faire leadership has a negative and significant partial effect on financial performance of commercial banks in Kenya. The study recommends that that top managers of the commercial banks need to take up effective transformational and democratic leadership style in their management programs. This can be achieved through staff training and development using both in-house and open training programs as well as continuing development programs. Banks should join hands with training and educational institutions in regard to development of leadership modules under their training programs
Financial Inclusion of the Poor and Marginalized Population in Banking: A case of Agency Banking in Malaysia
No full textThe purpose of the study was to investigate factors affecting financial inclusion of banks in Malaysia with specific focus on mobile banking, agency banking, financial awareness, and products diversification as an instrument in financial inclusion in Malaysia. The research was supported by theory of financial innovation, modern development theory and agency theory. The population of the study was 35 respondents who comprised 19 branch managers, 16 operation managers and the C.E.O and since the sample was very small, the research applied census approach. The research used primary data which was collected using a questionnaire that was filled by the operation managers, branch managers and the CEO. The study adopted a descriptive research design. Data was analyzed using descriptive statistics. The data was presented in tables and results disseminated in percentages. The study established that the four factors; mobile banking (80%), agency banking (64%), instant credit facility (100%) and promotion of bank products (100%) were significant factors influencing financial inclusion for banks in Malaysia. The study recommends that financial education should be regularly provided to the residents from all corners of the study area, there is need for the bank to consider agency outlets as some said that branches are far from them thus holding cash in hand, the bank management to improve on their lending policies particularly in adopting simplified loan application procedures and advancing instant credit facilities to enable its members execute their businesses and investments with efficiency, and leverage on new technology such as mobile banking to break physical barrier and achieve efficiency in service delivery. The study findings were significant to banks in improving their financial inclusion, and future researchers.
Keywords: Financial Inclusion, mobile banking, agency banking, instant credit facility, promotion on financial inclusio
Intervening Effect of Employee Retention on the Relationship between Strategic Leadership and Performance of Health Care Workers in North Eastern Kenya
No full textThe efficiency of the healthcare workers determines the overall performance in a healthcare setting. The performance of the employees can be affected by internal and external factors. Thus, the study sought to examine the intervening effect of employee retention on the relationship between strategic leadership and performance of health care workers in north eastern Kenya. The study was anchored on job embeddedness theory. The research study adopted a correlation research design. The study target population was 3,000 Health care workers and 10 County leadership who included health managers working with County Health Department of Garissa, Wajir and Mandera. The sample size for the health care workers was 353 obtained using Yamane Formular. A census was undertaken for the health managers in the counties. Questionnaires were used to collect the data. Both descriptive and inferential analysis was done on the collected data. The study findings indicated there is a partial intervening effect of employee retention on the relationship between strategic leadership and performance of health care workers in North Eastern Counties of Kenya. The study concluded employee retention is influenced by employee empowerment, recognition, and remuneration. The regression model of strategic leadership on health worker performance was positively and significantly related. The study recommended the need of encouraging the health workers to remain in North Eastern regions despite the circumstances. There is a need of the county governments and other health care stakeholders to emphasize empowerment, recognition, remuneration and training and development of the health care workers.
Keywords: Employee Retention, Strategic Leadership, Performance, Health Care Workers, Keny
Servant Leadership Attributes for Non-Profit Organizations in a Developing Country: An Exploratory Survey
No full textThe study was undertaken in response to calls in extant literature for extension of servant leadership empirical work into new contexts. The study was done as an exploratory research in a developing country context, Kenya using an integrated set of servant leadership attributes drawn from previous work on servant leadership with the aim of finding out which servant leadership attributes are applicable to the non-profit sector and how the NGO institutional characteristics condition the application of the servant leadership practices. Data was obtained from 365 respondents drawn from 72 religious non-profit organizations in Kenya and analysed using exploratory factor analysis. Ten attributes of servant leadership were extracted with their corresponding set of operational indicators. The institutional context was found to condition servant leadership practices among the non-profit organizations through institutional isomorphism. The extracted 10 factors indicate that servant leadership attributes are relevant for applications in the non-profit sector and require the conceptual and theoretical input of the contingency and institutional theories.
Keywords: Institutional context, Non-profit organizations, Religious non-profit organizations, Servant leadership, Servant leadership component
Stakeholder Engagement, Resource Mobilization and Leadership Style on Sustainability of the Anglican Church Funded Projects in Kenya
No full textChurches play a critical role in the alleviation of socio-economic challenges of people in various places of the world through church funded projects. In Kenya, for instance, Anglican Churches invest huge resources each year in the sustainability of income-generating projects. These projects include provision of education, healthcare and food. This is done alongside the Church’s core function of the spiritual nourishment of its members. At times, Church-funded projects are brought to a sudden halt with the transfer of an individual minister in the church or after the demise of donors or withdrawal of funds by donors. These circumstances lead to serious sustainability challenges of projects such as quality assurance or the overshooting of estimated project cost budget. It is against this background that this study was designed. The study sought to assess the influence of stakeholder engagement, resource mobilization and leadership style on the sustainability of the Anglican Church-funded projects in Kenya. The study was anchored on stakeholder engagement theory. The study adopted a positivism philosophy and a cross-sectional survey design. The unit of analysis was the Anglican Church while the universe of the study was Mombasa Region in Kenya. Stratified random sampling was used to select 397 church members while purposive sampling was used to select 11 church committee members and 22 parochial church councils. The primary data was obtained using structured questionnaires. The study achieved a response rate of 95.81%. Data was analyzed using descriptive and inferential statistics. The findings indicated that stakeholder engagement positively and significantly influenced sustainability of church funded projects. The study also established that resource mobilization had a significant enhanced moderating effect on the relationship between stakeholder engagement and the sustainability of the Anglican Church-funded projects in Kenya. The regression coefficients for democratic leadership and transformational leadership style were positive, implying that they had an increasing impact on sustainability of projects. The combined variables indicated that stakeholder engagement, resource mobilization and leadership style had a positive and significant effect on sustainability of projects. This implies that there exists a positive significant relationship between stakeholder engagement and sustainability of projects. The study therefore concluded that the completion of projects was above average at 87% in the years 2016, 84% in 2017 and the rate for the year of 2018 was 86% respectively. This success rate led to a higher level of satisfaction by the beneficiaries of the church projects. However, a budget variation was noted in small projects which had a budget variation of less Ksh 500,000 while major projects had variations of between Ksh 500,000 and 1,000,000 for the three years under study. As part of the recommendation, adoption and application of democratic and transformational leadership practices was advised. The leadership of the church should motivate members to unremittingly participate in project implementation cycle and provide regular and progressive feedback to members and other stakeholders. This is useful in orienting development projects towards objective realization, helping church members get on track and stay focused, enhancing familiarization and in enhancing overall project sustainability. The study will inform policy to church policy makers, Church authorities and stakeholders
Innovation Strategies and Performance of Insurance Brokerage Firms in Nairobi County, Kenya
No full textThe insurance industry in Kenya has been recognized as a major player in the Kenyan economy. The insurance brokerage industry remains one of Kenya's most flamboyant financial sectors, especially in Nairobi County. However, there has been the saturation of intermediaries in the insurance sector, especially in Nairobi County. Thus, the study sought to examine the influence of innovation strategies on the performance of insurance brokerage firms in Nairobi County, Kenya. The study used the descriptive survey technique. The target population constituted 216 insurance Brokers companies within Nairobi as per the year 2019 (Commissioner of Insurance, 2018). The sample size was 140 institutions found using the Yamane (1967) formula. The questionnaire was used for primary data collection. Secondary data sources included IRA publications, company financial statements and company websites. Descriptive statistics and inferential statistics were used for the data analysis. The study established that product innovation, service innovation and market innovation had a positive and significant influence on the performance of insurance brokerage firms in Nairobi. The study concluded that the importance of product innovation in the company's growth and development could not be overstated. A new service idea is considered an innovation if it is a deliberate change in the service provided, provides a new or significantly improved benefit to the customer, significantly improves the service firm's profitability, and can be replicated from customer to customer. Market innovation improves the organization's performance because it operates at a lower cost as there is no need for inventing anything new. The study recommended that the organizations develop winning products, which are products that are in an appealing market, target a profitable customer segment, address the suitable unmet needs, and assist customers in getting the job done better than any competing solution. The organization should aim their marketing innovations to better address customer needs, open up new markets, or newly positioning a firm's product on the market to increase its sales.
Keywords: Product innovation, service innovation, marketing innovation, performance, insurance brokerage companies, Nairobi County, Keny
Strategic Analysis of Opportunities and Risks for New Zealand Drug Firms
No full textFirms have ambitions that they will grow and become a global entity with high returns. Several New Zealand companies such as Merck & Co., Novartis and Roche have been successful whereas others have tried and not succeeded for different reasons. There are usually several factors to put under consideration and many crossroads on the road to success of becoming a profitable multinational company. Whichever way a company decides to follow, clear strategies are usually paramount. This paper presents a comparative analysis of the opportunities and risks of expanding to either China or Africa. The paper an analysis the opportunities and risks that New Zealand drug firms looks into in its aspiration to expand its market base after sales recorded indicated a stall. For sustainability, New Zealand drug firms looks into expanding its products to either China or Africa, which are foreign markets. The paper further outlines on the factors that favor market entry into the foreign market and makes a justification for the preferred choice.
Keywords: Strategic Analysis, Opportunities and Risks, China, Africa & New Zealand Drug firms