Stratford Peer Reviewed Journals and Books
Not a member yet
2323 research outputs found
Sort by
Corporate Governance Practices in Micro-Finance Institutions in Nairobi, Kenya
No full textGovernance is about achieving corporate goals. For most MFIs, dual goals exist particularly the social and economic perspectives. In Kenya, good governance involves effective guidance of the board of MFIs to manage the management team by implementing the regulatory framework of the Microfinance Act of 2006 and developing systems and procedures. The regulators in Kenya have provided a clear directive which focuses on governance and management by introducing strict licensing and minimum capital requirements; capital adequacy rules; fiduciary responsibilities and standards regarding owners, directors and executive managers of MFIs; providing guidelines on risk management and related policies. Despite the efforts of the regulators, many of the MFIs have given very little attention to corporate governance and risk management, which affects their entire performance. MFIs face problems related with governance, emanating from internal and external factors that threaten their operational and financial sustainability. This paper established that most stakeholders are outsiders. This paper recommends that a competent and motivated board together with institutional capacity is critical to advancing CG in the microfinance sector. There is need to investigate expansion of the scope to cover new areas and clients considering MFIs already control a segment of the money market considered risky by main stream banks and the efforts of these MFIs in adopting best CG practices. Further investigation on how legal frameworks can be adapted so as to allow well-performing MFIs to mobilize savings while integrating governance systems and understanding their impact within the financial sector may be conducted
Key Words: Corporate Governance practices, challenges, Microfinance Institutions, Keny
Influence of Ethical Sourcing Practices on Performance of Teachers Service Commission of Kenya
No full textEthical sourcing practices are acceptable standards that professionals in supply chain management should adopt to ensure sustainable institutional operations. There is more emphasis on ethical sourcing in the Kenyan public procurement system since the enactment of the new constitution in 2010. However, sourcing in the commission is marked with unethical practices. These ethical malpractices may damage the state agencies' performance; undermine public confidence in government leadership and governance. The purpose of the study was to analyze the influence of ethical sourcing practices on the performance of the Teachers Service Commission of Kenya. The study's objectives were to examine the influence of transparency practices on TSC performance, assess the influence of integrity practices on the performance of TSC, to evaluate the influence of accountability practices on the performance of TSC. The study was guided by three theories namely: Deontological theories-Kantian ethics, Teleological theories-utilitarianism and Dynamic capabilities theory. The target population comprised 1351 TSC secretariat staff from among seven TSC directorates and Supply Chain Management Services (SCMS). Stratified proportionate sampling was used to select a sample of 239 employees. A descriptive research design was adopted in the study. Data was collected using a semi-structured questionnaire. Descriptive and inferential statistics were used to analyze the data. The presentation was in form of percentages, frequencies, and tables. Key findings of the study included: A response rate of 96.2 % was realized and found to be adequate to undertake data analysis. The majority of the respondents strongly agreed that the commission had embraced ethical sourcing practices (Transparency, integrity and accountability) and had consequently improved its customer satisfaction levels. The study recommends the adoption of ethical sourcing practices by organizations to optimize their operations. The researcher recommends a similar study on other organizations both private and public based on the study findings, shareholders, management and policymakers in the public service sector and other sectors can make informed decisions on the ethics and organization performance. To uphold research ethics, permission to collect data was sought from the University, NACOSTI as well as the Teachers service commission.
Keywords: Transparency Practices, Integrity Practices, Accountability Practices, Teachers Service Commission
 
Effects of Capital Structure on Performance: A Critical Review
No full textThe capital structure is a combination of different types of debt and capital which a firm uses to finance its assets, operations and growth. This study critically examined the relationship between capital structure and firms performance. Capital structure is a dynamic process that changes depending on the variable that influence evolution or performance of a company. Appropriate capital structure decision is one of the most crucial decision often confronted by financial managers and analysts of firms. Capital structure plays an important role in a firm especially when the firm wants to fulfil the needs of their stakeholders through investments in capital assets, profitability, payment of dividend, debt, salaries on time and other financial obligations. Capital structure is normally made of equity capital, preference capital and long-term debt capital. Debt capital such as long-term bond is used by the firm to finance mainly its investment decision in long term assets such as property, plant and equipment. The decision centers on the mix of debts and equity in financing firms immediate and long term assets and operations. The combinations of different capital types will have differing impact on firm performance. Capital structure is used as a benchmark when raising funds for investment in new capital projects. Managers have numerous opportunities to exercise their discretion with respect to capital structure decisions. The capital structure employed may not be meant for value maximization of the firm but for protection of the managers interest especially in organizations where corporate decisions are dictated by managers and shares of the company closely held. The managers are caught up in a dilemma of structuring their finance in order to determine its impact on performance. The performance of the business is crucial to the value of the firm and consequently, its survival. The question firms are faced with is making a decision on the capital structure choice to use. The decision is crucial given that it has effect on the financial performance of firms. The capital structure of a firm is generally the specific mix of debt and equity the firm uses to finance its operations. The paper sought to assess the relationship between the capital structure and performance. The paper is anchored on agency cost theory and supported by the static trade-off and the pecking order theory. The paper revealed that financial leverage has a positive and significant effect on firm performance. The paper further reveals that there is positive relationship between capital structure and financial performance. Capital structure was found to have a significant effect on financial performance of the firm. The paper concludes that every firm should make good capital structure decision to earn profit and carry on their business successfully.
Keywords: Capital structure, Debt, Debentures, Equity, Leverage, Financial performanc
The Effect of Central Bank Rate on Financial Performance of Commercial Banks in Kenya
No full textInterest rates are fundamental to profitability of any business organization and are normally expressed as a percentage rate over the period of one year. Interest rates as a price of money reflect market information regarding expected change in the purchasing power of money or future inflation. The objective of the study was to investigate the relationship that exists between the Central Bank Rate and the financial performance of the commercial banks in Kenya. This study was anchored on the classical theory of interest rates, the Keynesian Theory, The Rationale Expectation Theory of Interest Rates and Loanable fund theory. This study was descriptive in nature. The target population of the study comprised of all the 43 licensed commercial banks in Kenya as at 31st Dec 2014. The study used secondary data. Regression analysis revealed that there was a strong correlation between the quarterly return on assets of Kenyan commercial banks, the quarterly average central bank rate, the quarterly average liquidity risk and the quarterly average inflation rate. The study recommends that the monetary policy committee of the Central Bank of Kenya should sets the rate with a good level of effectiveness. The study also recommends that the committee should therefore enhance the initiatives that are employed in order to set a good rate. Some of the limitations were that the study used a limited period of 10 years, which yielded only 40 observations (Quarters). There could have been more insight where the study period could be extended for a longer period of more than 10 years. The data used was also largely aggregated, for the entire banking industry in Kenya. Considering the fact that the Central Bank Rate applies to all licensed commercial banks, the use of aggregated data became an ideal choice. It could however not allow for an examination of how individual commercial banks attempt coping with the changes that are normally occasioned by changes in the Central Bank Rate.
Keywords: Interest rates, Financial Performance and Commercial Bank
Events Marketing as a Strategic Communication Tool towards Performance of Telecommunication Firms: A Case of Safaricom Plc, Kenya
No full textThe traditional means of marketing communications have begun to lose their luster and companies are racing to find alternatives and modern tools to communicate with its stakeholders to achieve various marketing objectives. The study investigated how promotion of events, sponsorship of events, participation in online events and participation in trade show events as strategic marketing communication strategies influence performance in Safaricom Company. The study was anchored on four theories namely; AIDA theory, social exchange theory, relationship marketing theory and diffusion of innovations theory. The descriptive research design was utilized.. The target population comprised of 2045 employees. The unit of analysis included consumer Business unit division, Enterprise Business unit division, financial services division, corporate affairs division and strategy and innovation division. The units of observation were top managers, middle managers and junior officers. The study used a sample size of 354 respondents. The study administered questionnaires to gather the data. Statistical Package for the Social Sciences (SPSS) was used to organize, code and analyze information to generate the quantitative report. The data was analyzed using descriptive and inferential statistics. The descriptive statistics were presented in averages, frequencies distributions and percentage distributions while the inferential statistics included the correlation coefficient. The findings of the study established that trade shows & fairs, sporting events, entertainment events, charity events, and roadshows were the most event marketing activities used by Safaricom PLC Company. The study also found that event marketing strategies included participation in physical events, participation in online events and sponsorship of events. The study concluded that participation in physical events and company's performance was positively and significantly associated (r=.724, p=.000). Participation in online events and the company's performance was positively and significantly associated (r=.542, p=.000). Participation in online events was positively and significantly associated with company's performance (r=.683, p=.000). The study recommended that management at Safaricom Plc need to emphasize much on event marketing activities such as trade shows & fairs, sporting events, entertainment events, charity events, and roadshows. It is also recommended that during participation in physical events, the company need to offer free sample and gifts at the events and create a social setting for attendees to raise their satisfaction level. It is also recommended that there should be online advertising during live stream events. The Company should emphasize much on online adverting because online advertising can be used to drive traffic to the site and build brand awareness. Safaricom Company needs also to be involved in the sponsorship of events. Sponsorship increases reach and exposures to new clients, customers and businesses.
Keyword: sponsorship of events, online events, physical events, performance, Safaricom Plc
Effect of Information Systems on Transaction Cost, Agency Theories and Sustainability of the Competitive Advantage: Perspective from the U.S
No full textThe main goal of this research study was to analyze the impact of information systems on transaction cost, agency theories and sustainability of the competitive advantage in the U.S. Too commonly, regrettably, supervisors have little claim in the growth of these decision support systems; at the same time, non-managers that do develop them have a minimal view of how they can be made use of. In spite of these disadvantages, the writer found that a variety of the 56 systems he researched are successful. As the difference between success and failure is the level to which managers can use the system to boost their effectiveness within their companies. Transaction cost theory forecasts on the administration types of hierarchies, markets, or crossbreeds will be made use of. Williamson that was acknowledged with a Nobel Prize for his work with transaction costs supposed that whether activities would be internalized within a company relied on their transaction costs. He saw deals generally as transfers of goods or services throughout interfaces, and argued that when transaction costs were high; internalizing the transaction within a pecking order was the suitable decision. Electronic markets and power structures have actually consistently been described as options to inefficiencies in the company of deals in facility and unsure settings. Information systems assist firms’ agreement in size since it can minimize purchase costs sustained when a company gets on the marketplace what it cannot make itself. Information system is grounded in the assumption that the partnership between human and ecological variables is the reason transaction costs increase in the economic system. This is, nonetheless, not the only reason these costs exist. The connection of factors adding to transaction costs can contribute to their boost.
Key Words: Information, Systems, Transaction cost, Agency, theory, Sustainability, Competitive, Advantage, U.
Influence of Land as Factor of Production on Growth of Commercial Real Estates in Machakos County
No full textThere has been a slow growth in the commercial real estates in Kenya as compared to the demand of the houses. Demand for housing units continues to outstrip the supply; property developers in Kenya have in the recent years considerably scaled down their construction activities, pointing to a struggling property sector. In 2018 the real estate sector in Kenya recorded its slowest annual growth in four years, giving weight to property market reports that signaled a slump in demand despite increased supply of new housing units. The purpose of the study was to establish the influence of land as a factors of production on the growth of commercial real estate in Machakos County. The study adopted a cross-sectional survey research design. The target population for this study was made up of 374 registered property developers with Kenya Property Developers Association operating in Machakos County. Census approach was used to study all the 374 registered property developers. Prior to commencement of the actual study, 40 respondents from Kajiado, a neighboring county to Machakos were used in a pilot study to pre-test the research instrument. The researcher triangulated both structured questionnaires and open ended interview guide to gather and saturate data from the respondents. While the interview guides were bent to gather in-depth qualitative data from the real estate agents, the structured questionnaire was used to collect quantitative data from the respondents who develop the real estates. Both quantitative/ numerical data and qualitative/ descriptive data were collected using structured questionnaire and unstructured interview guide respectively. Qualitative data was analyzed using descriptive statistics while quantitative data was analyzed using inferential statistics. Time series was also be utilized in this study. Statistical Packages for Social Sciences (SPSS) software was used for higher statistical computations. The findings revealed that there was a positive and significant relationship between land and growth of commercial real estate in Machakos County. Based on the findings the study concluded that land is an important factor in determining the growth of commercial real estate in Machakos County. The study therefore recommended that before considering investing in commercial real estate in Machakos County, the investors should consider a number of aspects regarding land such as land location, land size, the general appearance of the land, accessibility and the price of the land and most importantly the legitimacy of the land.
Keywords: Land, Growth of Commercial Real estate, Investors, Developers, Machakos County
Factors Influencing Project Sustainability of National Accelerated Agricultural Inputs Access Programme in Kanduyi Sub-County, Kenya
No full textThe trend indicates that development through project concept is the preferred mode of addressing development needs. However, project failure is often reported, with over 50% of projects implemented in sub-Saharan Africa failing even after successful implementation. Project sustainability failure has been attributed to inadequate; stakeholder participation, project monitoring, project communication and stakeholder empowerment. Similarly in Kenya, despite continued implementation of food security projects in Bungoma County, over 74% of households remain food insecure. NAAIAP is one of the efforts by the government to improve food security among resource poor famers in Bungoma. But it was not clear whether NAAIAP implementation was sustainable or followed similar trends of past food security projects. Past studies on NAAIAP had not addressed the sustainability of the programme in Bungoma. There was need therefore to determine the factors that influence NAAIAP sustainability in Bungoma County. A descriptive study design was utilized.. The study was conducted in Kanduyi sub-county which was reported to have persistently high food deficit and low production per hectare. The target population of the study was 4,011 NAAIAP smallholder farmers. A sample of 182 beneficiaries was obtained using Cochrans sample size formula for continuous data. Systematic random sampling was used to draw respondents. The data was collected using structured questionnaire. The questionnaire was validated by experts from JKUAT. The reliability of the instrument was tested using the Cronbach Apha coefficient. A reliability coefficient of 0.831 was obtained, which was considered appropriate for the study. A pilot testing of the research instruments was conducted in Namasanda ward in Kanduyi sub-county. The questionnaires were administered to the respondents through face to face delivery. Descriptive and inferential statistical tests were used in the analysis. The descriptive statistical tests used in the analysis were percentages and arithmetic mean for central tendency among variables. Inferential statistical tests used were chi-square test of agreement, pearsons product moment correlation coefficient and multiple regression model. The analysed data was presented in tables and charts. The study findings from the prediction model indicated that the value of project sustainability under the current study would be expected to have a positive value of 1.2350 if the values of the predictor variables were zero. Stakeholder empowerment was noted to strongly influence the mean change in project sustainability in the prediction model. All variables in the study showed a positive mean change on project sustainability except for project monitoring which had a negative influence. The value of sustainability of the project in the prediction model was observed to have a mean change of; 0.178 for stakeholder participation, -0.0058 for project monitoring, 0.101 for project communication and 0.42 for stakeholder empowerment, for every positive unit change in the independent variables as mentioned. It is anticipated that the information from the study will enhance sensitization to community development policy makers, project implementing agencies and project beneficiaries on the significance of stakeholders participation, project monitoring, project communication and stakeholder empowerment in sustaining project long-term impacts. As a strategy to ensure inclusion of sustainability promoting actors in project organization and developing sustainability competencies strategies, to promote project sustainability goals.
Keywords: Stakeholders Participation, Project Monitoring, Project Communication, Stakeholder Empowerment and Project Sustainability
The Concept of Marketing Practices and Service Delivery in the Public Sector: A Focus on the State of Alabama
No full textThe development of services affiliated with the public sector is adversely increasing and has an increased role in the national economy. Numerous public sector institutions have been undertaking marketing activities to enhance service delivery according to their Service Charters. The paper determined the influence of public sector marketing on service delivery in federal agencies in the state of Alabama. This study was anchored on three theories, namely: marketing mix theory, public choice theory and resource-based theory. These theories were used as they relate to marketing concepts and they inform the study of the marketing aspects in diverse institutions. The study used the marketing mix practices used in the public sector including products, price, place promotions and service marketing. A descriptive research design was used because it focuses on complex analysis to bring out the correlation of variables. The study captured the main federal agencies in the state of Alabama. The results indicated that all the variables carried positive predictive power although there was variation in significance level. The results also showed that product marketing had a positive and significant effect on service delivery. Price marketing had a positive and significant effect on service delivery. Promotion marketing had a positive and significant effect on service delivery. Lastly, place marketing had a positive but insignificant effect on service delivery. The study concluded that product marketing, pricing marketing, place marketing and promotion marketing strategies have a positive effect on service delivery in the public sector. The study recommended that the marketing mix strategies should be widely adopted by federal agencies to have a greater influence on service delivery.
Keywords; Marketing Practices, marketing mix theory, Public Sector, Service Delivery & The state of Alabama
 
Marketing in Public Sector and Service Delivery in Peru
No full textThe development of services affiliated to the public sector is adversely increasing and has an increased role in the national economy. Numerous community sector establishments have been undertaking marketing activities with the intention of enhancing service delivery according to their Service Charters. The study examined the influence of public sector marketing on service delivery in government agencies in Peru. The study used the marketing mix practices used in the public sector including products and services marketing, price marketing, place marketing promotions and service marketing. Descriptive research design was used because it focuses on complex analysis to bring out the correlation of variables. Questionnaires was used as the research instrument. Inferential statistics was presented in regression models and was tested at 0.05 significance level. The results indicated that all the variables carried positive predictive power although there was variation in significance level. The study concluded that product marketing, pricing marketing, place marketing and promotion marketing strategies have a positive effect on service delivery in the public sector. The study recommended that the marketing mix strategies should be widely adopted by government agencies should be more emphasized in order to have greater influence on service delivery.
Keywords: Public Sector, Marketing Practices, Service Delivery, Government Agencies & Peru