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Effect of Corporate Governance Practices on Performance of Manufacturing firms in Ireland
No full textCorporate governance is a useful tool to minimize the conflicts of interests between stakeholders and management. The purpose of the study was to examine the impact of corporate governance practices on the performance of manufacturing firms in Ireland. The inferences of the study were based on the findings of the preceding studies. The study results showed that corporate governance practices have a positive effect on performance. The implementation of corporate governance standards improves the financial performance of the company as well as positively impacts the internal efficiency of the firms. Good corporate governance is fundamental for a firm as it improves company image, increases shareholders' confidence and reduces the risk of fraudulent activities. Moreover, it was established by the study that good corporate governance principles incorporate transparency, accountability, responsibility, independence and fairness. Corporate governance is the combination of mechanisms, procedures and relations utilized by different institutions to regulate and run a firm. The main purpose of better corporate governance is to increase value for investors and stakeholders in the long run. The study noted that corporate governance is a useful tool to minimize the conflicts of interests between stakeholders and management. The study recommended that manufacturing firms in Ireland ensure that corporate governance practices are effective. The firms need to build a system of rules and practices that determine how a company operates and aligns the interest of all its stakeholders. Further, it is suggested that the firms need to have a good corporate governance system that ensures it follows a sound, transparent, and credible financial reporting system
Keywords: Corporate governance policies, performance, manufacturing firms, Irelan
Imihigo/Performance Contract: A Results of Decentralization and Effective Tool for Orgnizational Performance, Case Study of Rwanda
No full textThis study intends to cover the relationship between decentralization introduced since 2000 and Imihigo/performance contract launched in 2006 in all government institutions from the context of Rwanda. The Decentralization Policy is explicit on the process of Imihigo planning, which follows through the existing Local Government structures from Village to District level. The spirit of the policy visualizes a systematic bottom-up process where Imihigo at each Sub-District entity are strengthened at the next layer in the administrative hierarchy up to the District level. Alternatively, the system of Imihigo and decentralization in Rwanda have close interlink and this one enhanced Rwanda’s decentralization, ensuring that local leaders are accountable and that achieve annual targets they set themselves. It is an important mechanism for implementing national and local development strategies in order to improve the lives of citizens. Rwanda’s Decentralization reforms have focused on transferring power, resources and responsibilities for decision-making to citizens and elected leaders, creating enabling environment for citizens’ participation in governance and development, as well as establishing systems and structures for effective, efficient, equitable and accountable service delivery. Imihigo/performance contract concerns to all Government institutions, from households at right from isibo/village level to Ministries and agencies, are required to design and prepare their Imihigo (performance contracts), implement them effectively and to have them evaluated. Mostly, Ministers, Mayors and government agencies leaders develop Imihigo/performance contract in consultation with their staffs and therefore, sign it with the staffs concerned. District performance contract/Imihigo are resulting from consultative meetings from households where citizens, council at al level, JADF members are expressing their needs/priorities and analyze them where District consolidate the needs compare to the available budget but also link them to national priorities under strategic documents such as Vision 2050, NST 1 and District Development Strategy as well as Action Plan. To address this objective, imihigo/performance contract is perceived as the core independent variable while decentralization policy is considered as dependent variable. A questionnaire was developed and disseminated to sampled respondents used purposive sampling dealing directly or indirectly with the selected subject. Again, this purposive sampling technique was used to select the respondents and participants in focused group discussions basing on the knowledge, expertise and familiarity they have in imihigo from expression of needs to evaluation of District. The primary data is composed of information got from questionnaires respondents and interview held with selected respondents among them those who retired from District leadership at various level but also those who still in the government office. The secondary data of this research was extracted from textbooks on performance contracts or management, concept notes on performance contracts-imihigo, evaluation reports and published papers, article and books. A sample of 78 out of 80 respondents were finalized with no missing values. Empirical findings suggest that for the institutions with focus on local government or decentralized entities performance depends mainly with diverse factors includes but not limited to financial constraints, ineffective coordination and collaboration between institutions both public and private including JADF and other supporting organs. While decentralization and performance contract/imihigo are well aligned and interlinked but seems there is a disconnect which affect expected outcomes therefore, government programs and actions are not effectively implemented to the extent some of the social, economic development of citizens might be humped by the aforementioned challenges. Findings of the study are vastly recommended for the active participation of both citizens but also staff (in charge, professional, expert and director/DG) responsible for umuhigo/ performance contract for them to ensure they understand effectively the nature of umuhigo, partner’s, design both implementation plan, concept note and reporting as well as the availability of all supporting documents for the smooth organizational performance and effective implementation of imihigo/performance contract. However, more have been achieved in social, economic development pillars due to performance contract and details will be discussed at later stage. However, future studies can be conducted with more explanatory factors for persisting low citizen participation and yet, decentralization policy objective aims at empower citizens, engage them to actively participate in the local government affairs, consider them at center of governance, hold accountable leaders. Managerial implication of the study defines that different government institutions, should reconsider the stated factors for tangible outcome or results from effective implementation of performance contract/imihigo through being closer to citizen’s, engaging them actively to the local government affairs as decentralization policy expected it. Furthermore, there is a need to analyze deeper how decentralization influences performance contract since its adoption and also the tangible facts and great achievements in pillar of social, economic and development. 
Effects of Employee Counselling Program on Performance of Employees in State Corporations in Kenya: A Case of Kenya Ports Authority
No full textOrganizations implement employee counselling programs to assist workers address work and personal issues and challenges that may negatively affect their productivity. Early identification and management of issues facing employees will benefit both the employees and employers. Employee Counselling Programs enable employees to balance their work and personal values, and that the company will benefit from rejuvenated employees. The study aimed to analyze the impact of employee assistance interventions on productivity of workers in state corporations in Kenya by focusing on Kenya Ports Authority (KPA). The study precisely sought to ascertain the degree to which employee counselling programs affects productivity of workers at Kenya Ports Authority. The study was guided by the social exchange theory. The study adopted descriptive research design and targeted 450 employees of Kenya Ports Authority. The researcher used stratified and purposive sampling design to select 135 subjects for the study. The study undertook a pilot investigation to establish the reliability and validity of data collection instruments. The data was collected using a structured questionnaire. The analyzed data was presented using percentages and frequency tables from which the researcher was able to draw conclusions and make recommendations. The study established that counselling programmes for the employees had the highest effect at 65.4%. The study found that employees who utilized the employee counselling programmes positively affected their performance through reduced anxiety and stress, improved working morale, improved punctuality and reduced absenteeism. The study recommends for the enhancement of employee counselling programmes and provision of financial literacy services as they play a critical role in enhancing the performance of employees. Specifically, counselling needs to focus on helping employees deal with workplace conflicts, as well as manage chronic illnesses and HIV. In general, counselling and support services should focus on improving employees’ wellness.
Keywords: Employee counseling programs, employee performance, state corporations, Kenya
Crime Prevention Strategies in Tennessee State, USA
No full textCrime has become one of the most serious security concerns confronting many nations in the World. Crime is widespread in both rural and urban areas, but it is less prevalent in both. Hence, crime prevention strategies are key in any country. In Tennessee State, Crime has been a growing problem. Hence, the study examined the crime prevention strategies employed to combat its widespread. The study was literature based. The study found that some crime prevention strategies include using ICT, holding meetings and increasing government public participation. The importance of increasing government public participation is that criminals are within the society and, in some instances, known. It becomes easy to find criminals if society is involved in the process. Security meetings reduce deviant activities and encourage compliant behaviours of their members through effective socialization about criminal awareness. The research concluded that security meetings, the use of ICT and increasing government public participation are essential components of effective crime prevention. Leaders travelling from one location to another and raising understanding of the role of communities, government policing agencies and the community in security reduces the chances of crime. The study recommended effective strategies be employed to reduce crime in Tennessee State. There should be no use of a single strategy when combating crime. Residents in local areas should be directly involved in policing exercises. A culture of shared responsibility and decision-making, and persistent commitment from both government policing agencies and the community, is required. Through the relevant Ministry, the government should fully understand the mechanisms that create, alter, and lower the insecurity issue through security meetings. Identifying which social group is severely affected by the problem is also critical.
Keywords: Crime, Prevention Strategies, Tennessee State, US
Stakeholder Networks in Tour Operators’ Sustainable Environmental Practices and Visitor Choice Behavior in Narok County, Kenya
No full textThere is no denying the fact that tourism is the largest industry in the world in terms of earnings and employment generation. Visitor Choice Behavior is the post visit behavior intentions of visitor on future choices. The choices are based on distinctiveness of travel experience which is greatly affected by environmental degradation in destinations. Tour operators play a critical role in promoting sustainable environmental practices in destinations. The purpose of this study was to evaluate stakeholder networks in tour operators’ sustainable environmental practices and their influence on visitor choice behavior in Narok County, Kenya. The study was informed by Stakeholder theory approach theory and Rational Choice Theory. The design used was descriptive survey research design. The study population was 176 tour operators registered by Tourism Regulatory Authority, and members of Kenya Association of Tour Operators and have access to Narok county and 397 visitors visiting attractions in Narok County. Questionnaires were issued to visitors and tour operator staff to collect primary data. Interviews schedules were used to get information from high ranking official of tour operators and tourism officials. Data was analysed using statistical package for social science SPSS software version 20.0. The coefficient of tour operators’ sustainable environmental practices had a positive and statistically significant effect on visitor choice behavior (β=.557, P<0.05). The coefficient of communities indicated a positive and statistically significant effect on visitor choice behavior (β=.298, P<0.05). The study concludes that there is need for the Kenya Association of Tour Operators to partner with the Ministry of tourism with the aim of educating and sensitizing visitors about the need to protect environment. There is need of periodic sustainable tourism and environmental related seminars and workshops to sensitize both the visitors and tour operators for the need to uphold sustainable environmental practices. There is need for joint participation in the development of sustainable tourism embedded in environment conservation.
Keywords: Stakeholder networks, Tour operators, Sustainable environmental practices, Visitor choice behavior, Narok County
Relationship of Knowledge, Attitude and Practices of Parents /Guardians to Pneumococcal Conjugate Vaccine Uptake Among Children Attending Immunization Services
No full textThe study sought to establish the relationship between the knowledge, attitude and practices of parents /guardians to pneumococcal conjugate vaccine uptake among children attending immunization services. This was a descriptive cross-sectional hospital-based quantitative and qualitative study. The study was conducted in Maternal Child Health (MCH) clinic and pediatric wards. It involved parents/caregivers (n= 104) bringing their children to the hospital. Simple random sampling was used to identify parent’s/guardian respondents. A pretested questionnaire was used to collect data from the correspondents. A key informant interview with the nurse in charge was also conducted. Data were analyzed using the software Statistical Package for Social Sciences (SPSS) version 18.0 computer package. Research results were presented in frequency distribution tables, graphs pie charts and other forms of descriptive statistics. The study showed that there is an association between education and parental knowledge of vaccine uptake. There was a high level of awareness regarding the PCV availability in the hospital with the majority of parents /caregivers getting information from the health workers. The study recommends that: For PCV to reach effectively every child parents/guardians would need updated information tailored to the understanding of pneumonia disease burden and prevention. Information on PCV must be provided by well-informed and experience health personnel. Increase awareness in the community through increased sensitization and mass campaigns.
Keywords: Relationship of knowledge, Attitude, Parents /Guardians, Pneumococcal Conjugate Vaccine, Immunization Services
 
Effect of Inventory Management Activities on Retailers’ Satisfaction in Inyange Industries Limited in Gasabo District, Rwanda
No full textThis research examined the effect of inventory management activities on retailer satisfaction in manufacturing industries in Rwanda from the year of 2016 to 2021. The mixed approach of both qualitative and quantitative data were used as research design to collect results from 121 respondents from 174 who were expected as sample size of the study by the use of simple random and stratified sampling techniques. Before, the actual process of data collection the researcher pre-tested the questionnaire survey and the key informant interview, which were used later for collecting data from the field. Thus, the quantitative data were analyzed using both descriptive as percentage distribution and inferential statistics represented by multiple linear regressions. Thus, the regression coefficients demonstrated that B=.241, with p=0.002 < 0.05 at sig. level of 5% which proves that IOP had a statistically positive and significant effect on the satisfaction of retailers; B= .311 with p=0.001 < 0.05 at a sig. level of 5% implying that ISM had a positive and statistical significant effect on satisfaction of retailers; and B = .402 with p= 0.000 < 0.05 at a sig. level of 5% implying that IDM had demonstrated a positive and statistical significant effect on retailers’ satisfaction in IIL between 2016 and 2021. The respective coefficients further indicate that 24.1 %, 31.1% and 40.2% of the variability in retailers’ satisfaction can be attributed to inventory order processing, inventory storage management and inventory distribution management respectively. The research recommends IIL to adopt JIT inventory practices all the time to avoid inventory costs while retailers need to accurately forecast demand and make orders before they experience stock-outs which affects the supply chain. It is hoped that this study will encourage IIL to sustainably adopt inventory management activities that will continue to sustain their retailer satisfaction. The study may also motivate other researchers to conduct research covering the whole country in order to improve its reliability.
Keywords: Inventory Management Activities, Retailer Satisfaction, Manufacturing Industries, Rwand
Investment Strategy and Financial Performance of Defined Contribution Pension Funds in Kenya
No full textPension funds are meant to enable pensioners to live quality life upon retirement by paying them retirement benefits. Financial performance of defined contribution pension funds in Kenya has continued to portray unimpressive trend despite positive targets set by the pension funds. Hence, the study examined the effect of investment strategy on financial performance of defined contribution pension funds in Kenya. Systems theory view of pension funds, agency theory, portfolio theory and fisher’s theory of investment guided this study. Secondary data was used in the study. Correlational research design and positivism research philosophy were adopted by this study. The target population comprised of 1172 registered defined contribution pension funds in Kenya as of December 2018. A sample size of 289 defined contribution pension funds were involved in the study and were selected by applying stratified random sampling method. The study established that a positive association exists between investment strategy and financial performance of defined contribution pension funds in Kenya. It concluded that investment strategy explained up to 57.76% of the variations in the return on investment. The regression analysis conducted found a significantly positive association between long term investments and return on investment. Medium term investments was also found to be positively and significantly connected to return on investment. There was also a significantly positive relationship between short term investments and return on investment. Alternative investments was found to be positively and significantly connected to return on investment. The coefficient of determination increased from 57.76% to 65.47% when density of contributions interacted with long term investments, medium term investments, short term investments and alternative investments. The study recommended long term investments as the most ideal investment option for defined contribution pension funds because of its ability to generate the highest return on investment. Medium term investments was recommended as the second best investment option to be embraced by defined contribution pension funds because of its ability to yield good returns as well, second to long term investments. The next investment priority should be given to the alternative investments since it had the third highest regression of coefficients. The least investment option to be undertaken by defined contribution pension funds should be short term investments.
Keywords: Long term investments, medium term investments, short term investments, alternative investments, density of contribution, performance, defined contribution pension funds, Kenya
Firm Characteristics and Working Capital Financing Adopted by Non-Financial Firms Listed at Nairobi Securities Exchange, Kenya
No full textThe working capital requirement is critical to any organization. However, the working capital of numerous non-financial firms listed at NSE has been negative. Thus, the study examined the influence of firm characteristics on working capital financing. Precisely, the study examined the influence of firm size, asset tangibility, profitability and leverage on working capital financing. Five theories, namely, Baumol design, pecking order theory, trade-off concept, economies of scale theory and profit maximization theory, informed the study. The study employed an explanatory research design. The target population were 45 non-financial firms listed at NSE. The study carried out a census of all the firms. The research collected secondary panel data. The study period was between 2015 and 2019. The results from the model fitness showed that firm size (log of total assets), asset tangibility, profitability (ROA) and leverage explain 64.70% of the variations in the working capital financing of the non-financial firms. The correlation results showed that firm size measured through the log of total assets, asset tangibility and profitability were positively associated with working capital financing. In contrast, leverage was found to be negatively associated with working capital financing. The regression results showed that firm size, asset tangibility and profitability have a significant positive effect on working capital financing. However, the regression results revealed that leverage has a significant negative effect on working capital financing. The study recommended non-financial firms listed at NSE look for strategies that increase their assets. Enormous firms are expected to be more financially stable with more investments, thus reducing borrowing. In addition, the firms should look for ways to increase asset tangibility. The firms can invest in more assets such as plant and equipment, buildings, computer equipment, software, furniture, land, machinery, and vehicles. Moreover, the non-financial firms listed at NSE to look for strategies to reduce the leverage levels. External funding of the operations, such as debts, should be used if all the other internal financing options are exhausted.
Keywords: Firm size, asset tangibility, profitability, leverage, working capital financing, non-financial firms listed at NSE, Keny
Corporate Governance Practices and Financial Performance of Microfinance Institutions in Rwanda: A Case Study of Microfinance Inkingi Ltd
No full textThe study was undertaken to investigate how corporate governance practices can influence the financial performance of microfinance institutions with a case study of microfinance inking ltd. This study specifically analyzed the effect of board size, gender diversity and CEO duality in the governance structures on performance of microfinance institutions. The descriptive method was used to collect data and the target population was forty-six, where 35 were the staff of INKINGI microfinance ltd 11 were members of the board. In data collection at the field, questionnaire and face-to-face discussion were used. To confirm the reliability, the research conducted a pre-test exercise before the actual data collection process. The validity was tested through experts in the domain of financial statements analysis and managerial decision making by asking the supervisor and other lecturers from Mount Kenya University. The researcher used the SPSS as tool of analysis, which helped to summarize the primary data into quantitative data and the researcher given the proper interpretation of the results basing on research objectives and questions. The analysis showed that board size, board independent and CEO duality were positively correlated with financial performance of Rwandan microfinance institutions (r= 0.810, p< 0.00 r= 00.706, p< 0.04 r= 0.623, p< 0.003 and r= 0.431, p< 0.00) respectively. Furthermore, the research showed that the board independence, gender diversity as well as board size have a considerable effect on financial contribution. According to the perception of the respondents, the results showed that corporate governance increases the profitability of the company, customer loyalty as well as extension of product line and services in the company. The study concluded that board size, board independent and CEO duality are important aspects to consider for better governance of microfinance. The study recommended that INKINGI microfinance ltd should improve their gender diversity for better corporate governance that provides diverse viewpoints, values and new ideas to the boards and provokes lively boardroom discussions. The management should appoint more women directors as they possess managerial skills like public relations, human resource and communication skills than operating and marketing skills.
Keywords: Corporate governance practices, financial performance, microfinance institutions, Inkingi Ltd, Rwand