Stratford Peer Reviewed Journals and Books
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Effect of Interest Rate on Loan Repayment in Microfinance Banks in Malaysia
No full textMicrofinance banks create employment by giving credit and other financial services, mainly to low-income earners. Thus, the study sought to examine the effect of interest rates on loan repayment in microfinance banks in Malaysia. The study adopted the descriptive research design. The target population included 29 microfinance banks in Kuala Lumpur. The collection of the data was done using a secondary data collection template. The analysis of the data was done using descriptive and inferential statistics. The correlation results indicate that the interest rate is negatively and significantly related to loan repayment (r=-.409, p=.000). According to the regression results, it was discovered that interest rate is negatively and significantly related to loan repayment (β=-0.525, p=0.015). The changes in interest rates have a substantial influence on loan repayment; when the banks charge more, the repayment will be low. Some loans do not perform as anticipated due to inadequate repayment rates, leading to non-performing loans. The study concluded that interest rate is negatively and significantly related to loan repayment. A reduced interest rate will boost loan repayment, and affordable funds concern is essential. One of the most crucial causes of poor bank performance and collapse is high-interest rates, limited quantity offered, absence of entrepreneurship skills and high taxes. The study recommended that financial institution managers need to make the interest rates affordable. The banking institution should extend the repayment period from one year to a minimum of two years or extend weekly deposits to monthly deposits to enhance the payback percentage. Microfinance institutions should scrutinize clients who borrow extensively before the loan is provided.
Keywords: Interest rate, loan repayment, microfinance bank, Malaysi
Executive Reward Structure and Financial Performance of Listed Companies in the Nairobi Securities Exchange, Kenya
No full textStudies have reported positive and significant relationship,that is, positive relationship between executive fixed pay, cash bonus, stock options and company’s financial performance; others negative and significant relationship, while others no significant relationship. In view of this, the study sought to establish the relationship between executive reward structure and financial performance of listed companies at the Nairobi SecuritiesExchange, Kenya. The investigation's precise goals were to establish the impact of executive base pay, bonuses, and non-cash incentives, as well as executive stock options, on the financial performance of firms listed on the Nairobi Securities Exchangem in Kenya.The research also determined if the rate of inflation had a moderating influence on the association between CEO compensation and financial performance of Nairobi securities exchange-listed businesses. Stakeholder theory, agency theory, marginal productivity theory, and managerial power and governance theory were all used in this research. In this study, the positivist philosophy was applied, as well as a causal research design. The target population was all 65 listed businesses on the Nairobi Securities Exchange in Kenya, and a census was conducted. The research employed panel secondary data from annual financial statements of NSE-listed businesses. The study finding indicated that all the study variables except for inflation had a positive correlation with with financial performance of listed firms. However it is basic pay, bonuses and non cash benefits that had a positive and significant effect on the financial performance of listed firms. The effect of executive share options was positive but insignificant at 5% level of significance. Equally the effect of inflation was negative but insignificant. However, inflation has a signinificant effect as a moderator in the relationship between executive rewards and financial performance of listed firms at the Nairobi SecuritiesExchange.Its is on the basis on of this findings that the study recommends that listed firms need to tailor their executive compensation and reward schemes to performance to encourage the top executives to continuous work hard and achieve their performance targets.
Keywords: Executive reward structure, executive basic salary, executive bonuses, executive non-cash benefits, executive stock options, inflation rate, financial performance. 
Budgetary Controls and Financial Performance of Micro Finance Institutions (MFIs) in Kenya
No full textMicro financing institutions in Kenya showed a high growth rate since they were established in 1997 and legislation passed in 2006 with the micro finance Act which became active in 2008. The research sought to determine exactly how budget controls influence financial performance of micro finance organizations (MFIs) in Kenya. The objectives of the study were to establish the effect of budget planning on the performance of MFIs; to figure out the impact of budget control on the performance of MFIs in Kenya; to establish the impact of budget plan analysis on the economic efficiency of MFIs and to assess the impact of budget coverage on the financial performance of MFIs in Kenya. The research study was anchored on the Priority Based Budgeting Theory, Goal-setting theory as well as the Accountancy theory. The study adopted the descriptive research design. The target population was 713 employees of the 14 MFIs in Kenya. Purposive sampling was adopted to select a sample size of 70 top and mid-level managers. Data was obtained via structured questionnaires as well as an interview schedule. Descriptive and inferential statistics were used to analyze the data with the help of SPSS. The study used a multiple regression model to show the relationship between the study variables. The findings revealed an R squared of 0.872 which means that the independent variables contribute up to 87.2% of the changes in the dependent variable and adjusted R squared of 0.864 at 95% significance level, implying that the budgetary controls adopted in this study (Reporting, Planning, Evaluation, Coordination) jointly explained 87.2 percent of the variation in performance of the MFIs in Kenya. The study also found that budget planning as an aspect of budgetary control had a positive and significant effect on the performance of MFIs in Kenya (β =105, p=.016<.05), budget coordination as an aspect of budgetary control had a positive and significant effect on the performance of MFIs in Kenya (β =.162, p=.005<.05), budget evaluation as an aspect of budgetary control had a positive and significant effect on the performance of MFIs in Kenya (β =.240, p=.005<.05), and finally that budget reporting had a positive and significant effect on the performance of MFIs in Kenya (β =.398, p=.000<.05). The study concluded that budgetary control practices adopted had positive and significant effect on the performance of MFIs in Kenya. The study thus recommended that recommends that the microfinance institutions should consider enhancing the budgetary control measures such as budget planning, budget coordination, budget evaluation and budget reporting as ways of enhancing their performance.
Keywords: Budgetary Controls, Financial Performance, Microfinance Institution
Financial Risks and Financial Performance of Commercial Banks in Kenya
No full textDue to their erratic financial performance and failure to honour shareholder promises, the Kenyan central bank has formally placed a few commercial banks under receivership. Although commercial banks constantly use thorough risk management procedures, the banking industry nonetheless suffers losses. This results from the banking industry's exposure to risks related to liquidity, credit, interest rates, and foreign exchange rates. The purpose of this research was, thus, to assess the impact of credit, interest rate, and foreign currency rate risks on the return on equity of Kenyan commercial banks. The research study examined how financial risks affect Kenya's commercial banks' profits. The study was founded on agency theory and reinforced by international Fischer's affect theory, liquidity preference theory, and interest rate parity. This study employed a causal analysis approach. The participants in this study comprised all of the 39 commercial banks operating in Kenya between 2017 and 2021. The data collecting sheet was used to compile the secondary data. STATA was used to analyse the data using a panel regression model at a 95% level of significance. Tests for multicollinearity, heteroscedasticity, and normalcy as well as the Hausman test were established. Descriptive statistics such as mean, standard deviation and both the minimum and maximum were used to present the data. The study established that while credit risk had a significant negative impact on commercial banks' performance, liquidity risk had a significant positive benefit. Furthermore, exchange risk improved commercial banks' bottom lines, however, this benefit was not statistically significant. Finally, interest rate risk impacted commercial banks' bottom lines negatively but not statistically significantly. According to the study's findings, commercial bank management should be cautious when lending money to new clients and should evaluate existing customers' credit histories before extending credit. To support failing banks, the report suggested that the government and the Central Bank of Kenya increase the minimum liquidity ratio required by law. The government bank should keep a close eye on commercial banks' liquidity ratios to alert any that are having trouble meeting the minimum statutory requirement.
Keywords: Financial Risks, credit risk, liquidity risk, exchange rate risk, interest rate risk, financial performanc
Effect of Export Strategy on the Performance of Large Export Manufacturing Firms in Kenya
No full textThe internationalization of business coupled with globalization has made it necessary for farmers to develop and utilize export market success strategy in a competitive and often chaotic business environments. Exporting is the most popular foreign entry strategy and can become an international learning experience. Since exporting is a risky venture, it is prudent that exporters fully orient their businesses by collecting export market intelligence. Export markets are complicated by the fact that the market environments are dynamic and disruptive in terms of preferences, demand, regulations and other aspects. This study sought to determine the effect of export strategy on the performance of Kenya large export manufacturing firms in Kenya. The study was a cross-sectional survey. The target population was 60 large Kenyan export manufacturing firms which formed the unit of analysis. A questionnaire was used to collect the primary data. Respondents were the company chief executive officer and the head of marketing from each of the firms under study. An average response rate of 96.55% was achieved. The research which adopted both inferential and descriptive statistics used statistical package for social sciences to perform regression and correlation analysis. The findings revealed that the influence of direct exporting on firm performance of large export manufacturing firms in Kenya is significant. The study recommended that on improving export performance (either export sales or export ratio) the export firms should engage on collection of more foreign information and co-operation for the international activities. The study further recommended that large export manufacturing firms’ managers prioritize direct and active engagement with key players in both the export market and the domestic market.
Keywords: Export Strategy, Direct Exporting, Indirect Exporting, Cooperative Exporting, Performance, Large Export Manufacturing Firms
Brand Equity and Customer Citizenship Behaviour among Students of Selected Universities within Mount Kenya Region
No full textThe growing number of higher learning institutions in Kenya and around the world has emphasized the importance of brand equity in customer decision-making. Despite the role of brand equity, enrollment in public universities has been declining in the past three years. The study was conducted to establish the effect of brand equity on customer citizenship behaviour among students of selected universities within Mount Kenya region. The study was anchored on Keller brand theory. A descriptive research survey was utilized and a target population of 600 4th year students were selected from universities within Mount Kenya region. A sample size of 240 students was selected through simple random sampling. Primary data was collected using both closed and open-ended questionnaires. Data analysis was done using descriptive and inferential statistics including correlation and regression analysis. Results indicated an R squared of 0.565. This denoted that brand equity explains 57% of the variations in the customer citizenship behavior. Findings also indicated that brand equity had a positive and significant effect on customer citizenship behavior (β=0.912, p<0.05). This suggested that a marginal increase in brand equity will lead to 0.912 increase in customer citizenship behavior. The study concluded that brand equity significantly contributes to improved customer citizenship behavior (57%). The study recommended that universities’ management should consider engaging in strong advertising and marketing campaigns so as to create more brand awareness and hence build customer citizenship behaviour. The university administrators should make sure the brand image conjures cleanliness. They should also create a positive and inviting environment. The government and ministry of education policymakers should also promote brand equity in Kenyan universities.
Keywords: Brand Equity, Customer Citizenship Behaviour, University student
Challenges and Opportunities for Main Stream Media and Journalism in a Digital and Social Media Environment: Perspective from Israel
No full textIsrael’s social fabric which is made up of colonial-settlers makes it crucial for Zionist rulers to appear strong. Legacy media like broadcasters and especially newspapers by contrast are becoming relatively less important as distributors of news even as they remain very important producers of news. They are additionally under growing pressure to establish brand-new electronic company designs as their existing resources of income decrease or go stale. The general feedback from heritage media has actually been a mix of investment in seeking electronic possibilities, expense- reducing and attempts at market loan consolidation in search of market power as well as economic situations of scale. A technical technique for methodically examining resident engagement possibilities in the media is after that proposed and used. Due to the competition for interest and also advertising and marketing, and the minimal variety of individuals who pay for on the internet news, there are extremely few instances of legacy media that make a profit from their digital news operations despite twenty years of commonly substantial financial investments as well as often substantial audience reach. It is unclear that the brand-new setting is dramatically a lot friendlier for digital-born information media organizations. While they commonly have a lower expense base as well as can be much more nimble in adapting to alter, they deal with similar competitors for both attention and marketing therefore far represent a small part of general financial investment in journalism. The research established that the effects for educational variety as well as media pluralism, key to freedom of speech are combined. A significantly electronic media environment offers internet customers accessibility to a growing number of details from an increasing number of sources, increasing the chances individuals have to utilize diverse sources and experience different perspectives. The research ends that the solitary most significant difficulty dealing with journalism today in Israel is the public's absence of rely on it. This is not a new difficulty, but it is consistent, as well as it has been becoming worse in the Nation.
Keywords: Challenges, Opportunities, Main stream media, Journalism, Digital, social media environment
School Management Strategies and Students' Academic Performance in Twelve Years Basic Education in Rwanda
No full textThe effective management of school activities through establishment of various professional strategies plays an important role in improvement of students’ academic performance. The purpose of this study was therefore to determine the effect of school management strategies on students’ academic performance in twelve years basic education in Bugesera district in Rwanda. The study employed correlation research design. The target population was 349 people. The sample size of the study was 187 found by adopting the Yamane formula. The study used questionnaires to collect the data. The findings revealed that supervision, peer learning, school feeding program implementation and implementation feedback and school community relationship can improve students’ academic performance. Regression analysis showed that school management strategies influence students’ performance at 64.9 percent. It was also indicated that, every increase on the influence of school management strategies on students’ academic performance increases at 46.25 percent. The study recommended that ministry of education and educational planners should provide school management facilities in Twelve Years Basic Education and effective set up that should enhance students’ academic performance. School head teachers should follow up the implementation of school management strategies daily so that students’ academic performance in 12YBE can be improved through developing students’ grades, promotion rate, school attendance and homework completion.
Keywords: Management, strategies, school management strategies, academic performance and twelve years basic education 
Analysis of the structure of ibyivugo by’ intore today
No full textThe study did an analysis of the structure of ibyivugo by’ intore today. The time prior to the arrival of the colonialist, Rwandan literature was oral and found in four categories which were: king and his leadership, soldiers or worriers, cows and folk. During colonialism, many of these categories were hardly found and some were even removed. This is what happened to the war poetry which was abolished since it was built on the narrative at the battle field. Although during colonialism, war, which was the literature corner of war poetry, was removed, the art of making poems continued in different times of Rwandan history. Nowadays there is poetry of heroism which was made in 2007 during national assembly reopening. The study analyzed these poems at structure level and it was found that they are accurately matching the features of true poetry of Rwandan literature. These poems match one category of Iningwa which naturally used me. These poems were famously used in the late of 19th century on the reign of king Yuhi V Musinga and the beginning reign of king Mutara III Rudahigwa and its key feature was the use of first singular person point of view. They also used grammar, rhythm, alliteration, rhyme scheme and other literary devices that feature them to be related to the traditional Rwandan poetry.
Keywords: Heroes poetry, structural analysis, National assembly (Itorero), arts of praising (poems), heroism
Effect of Guidance and Counseling on the Students’ Academic Performance in Bulgaria
No full textGuidance and counselling are integral parts of modern academic programmes. Guidance and counselling form a crucial part of Bulgaria's education system and aid in shaping learners' behaviour and instilling proper discipline. Thus, the study sought to examine the effect of guidance and counselling on students' academic performance in Bulgaria. The target population was 628 learners from Zlatarski International School of Sofia. The study used a simple random sampling technique to collect the data. The collection of the data was done using questionnaires. The study results showed that guidance and counselling explain 25.8% of Bulgaria's academic performance variations. It was revealed that guidance and counselling is positively and significantly related to academic performance (β=0.489, p=0.006). The findings indicated that when the guidance and counselling increase by one unit, the academic performance will increase by 0.489 units while holding other factors that influence academic performance constantly. Counselling programs prevent educational, individual, social, psychological and emotional issues. Lack of guidance and counselling leads to bad morals and behaviour. This includes school dropouts, substance use, criminal offences and failure to keep jobs. The work of educational guidance and counselling is to allow a learner to change themselves together with their studies by improving their study perspective and getting rid of subject matter challenges. The study recommended guidance programmes should be embedded in the curriculum of schools. School heads should establish an evaluation register for a learner for counselling.
Keywords: Guidance and counseling, academic performance, Bulgaria