Stratford Peer Reviewed Journals and Books
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Financial Risk Hedging and Financial Performance of Commercial Banks Listed in Nairobi Securities Exchange, Kenya
No full textIn Kenya, financial institutions play a vital role in economic development by facilitating investments through receiving and lending funds, but they face market-driven financial risks that impact their performance, including a decline in Return on Assets over the past decade. This study aimed to determine the relationship between financial risk hedging techniques and the financial performance of Kenyan commercial banks listed on the Nairobi Securities Exchange (NSE). The study's specific objectives included forward contract, future contract, currency diversification of currencies, and swaps hence bank size is used as moderating variables. The agency theory, profit maximization theory, and enterprise risk management theory supported the study, providing a theoretical foundation for exploring the relationship between financial risk hedging and the financial performance of publicly traded commercial banks in Kenya. A descriptive correlational approach was adopted to target all publicly traded commercial banks in Kenya, with a census conducted to ensure comprehensive coverage. Secondary data was collected annually over a five-year period (2017–2021) from publications by the Nairobi Securities Exchange and the respective commercial banks, utilizing a structured data collection form. Diagnostic tests, including normality, multicollinearity, heteroscedasticity, and stationarity, were performed, confirming that the data met the required assumptions for analysis. The data was subsequently transformed to ensure that regression analysis could be conducted without producing spurious results. Descriptive statistics were summarized using means and standard deviations, while correlation and regression analyses were employed to test the hypotheses and draw meaningful conclusions. The correlation analysis revealed that using forward contracts as a hedging strategy has a strong positive and significant impact on financial performance. The futures, swaps, and currency diversifications also they had positive correlation against financial performance, and they had significant relationship. The regression study revealed a strong positive link between risk hedging and financial success, indicating a noteworthy correlation. Forward and future contracts were revealed to be risk-hedging approaches with significant effects on commercial bank financial performance, implying that currency diversification and swaps had a positive and significant effect on financial performance. Size had a strong favorable impact on the link between risk hedging and financial performance. The study recommends that bank executives and stakeholders should adopt robust risk management approaches and diversification strategies to enhance financial performance and stability in the banking sector. The Central Bank of Kenya (CBK) should regulate high-risk financial hedging products and require banks to disclose their use of financial derivatives, while the government should create supportive policies to promote these tools, ultimately strengthening financial institutions and fostering economic growth.
Keywords: Forward contracts, future contracts, currency diversity, swaps, bank size, financial performance, commercial banks, Keny
Collateral Requirements and The Performance of Micro Liquefied Petroleum Gas Retailers in Nyeri County, Kenya
No full textThis study set out to examine the effect of collateral requirements on the performance of micro–Liquefied Petroleum Gas (LPG) retailers in Nyeri County, Kenya. Although micro and small enterprises are key drivers of Kenya’s economy, their growth is often constrained by stringent credit conditions. Financial institutions continue to emphasize immovable assets such as land titles as collateral, which many small retailers do not possess. This exclusion denies them affordable credit, restricting their ability to finance stock, meet safety regulations, and expand operations—factors essential for supporting Kenya’s transition to clean energy. Adopting a descriptive cross-sectional design, the research targeted 209 registered micro LPG retailers in the county, with 138 respondents selected through Yamane’s formula and random sampling. Data were collected using structured questionnaires and analyzed through both descriptive and inferential statistics, including bivariate regression. Reliability was confirmed using Cronbach’s alpha, and ethical principles such as informed consent and confidentiality were observed. The findings revealed that collateral requirements were widely viewed as restrictive, excessive, and unclear, with a mean rating of 4.09. Regression analysis showed that collateral accounted for 50.7% of the variation in business performance (R² = 0.507). The positive coefficient (β = 1.044, p < 0.05) indicated that when collateral frameworks were more flexible, retailers’ performance improved significantly. This demonstrates that easing collateral obligations through alternatives such as movable assets creates pathways for small enterprises to access credit and strengthen their operations. The study concludes that collateral requirements significantly influence access to finance and performance of micro LPG retailers, where flexible frameworks foster growth. It recommends inclusive collateral models and stronger enforcement of the Movable Property Security Rights Act (2017).
Keywords: Collateral requirements, credit access, micro LPG retailers, enterprise performance, movable assets, Nyeri County, Kenya
Transformational Leadership and Employee Performance of Community Conservancies in Kenya
No full textCommunity conservancies in Kenya play a crucial role in wildlife conservation and sustainable development, but face significant challenges in leadership and employee performance. Hence, this study examined the relationship between transformational leadership and employee performance in Kenyan community conservancies. Specifically, it investigated how four components of transformational leadership individualized consideration, idealized influence, inspirational motivation and intellectual stimulation relate to employee performance. The research employed a descriptive cross-sectional survey design, targeting managers from 165 community conservancies in Kenya. A sample size of 115 respondents was selected using Yamane's formula. Data was collected through questionnaires and analyzed using both descriptive and inferential statistical methods. The study found strong, positive and statistically significant relationships between these leadership traits and employee performance, highlighting the importance of transformational leadership in improving motivation, job satisfaction, and overall productivity. Key findings include the significant impact of individualized consideration, which explains 65.3% of employee performance, and the high correlation between intellectual stimulation and other leadership dimensions. The study concluded that transformational leadership plays a critical role in enhancing employee performance, recommending that leaders within conservancies strengthen their leadership skills, foster a culture of innovation, and align employee goals with the organization's broader mission. Suggestions for further research include exploring the long-term impact of transformational leadership, comparing conservancies across different regions, and examining the role of other leadership styles such as transactional and servant leadership in influencing employee performance.
Keywords: Transformational Leadership, Employee Performance, Community Conservancies, Keny
Thriving Through Turmoil: Adaptive Resilience in the Age of Permacrisis
No full textThe contemporary global landscape is increasingly defined by permacrisis - a sustained condition of overlapping and compounding disruptions, including climate change, pandemics, economic volatility, political fragmentation, and technological upheaval. These interlinked crises expose the limitations of conventional risk management and governance models, demanding a shift from resilience as recovery to resilience as transformation. This paper advances the concept of adaptive resilience as a multidimensional and systemic framework grounded in institutional learning, decentralized decision-making, and inclusive, participatory governance. Methodologically, the study employs a Systematic Literature Review (SLR) to synthesize interdisciplinary evidence on resilience and permacrisis, alongside empirical case studies from the COVID-19 pandemic, the Russia-Ukraine war, climate adaptation in Kenya’s arid north, and the 2023 Turkey-Syria earthquake. These cases were selected to examine how adaptive resilience manifests across political, socio-ecological, and institutional domains. The SLR approach enables critical mapping of resilience mechanisms, governance innovations, and structural weaknesses within diverse crisis contexts. The findings identified three interdependent pillars of adaptive resilience: institutional quality, collaborative governance, and social capital. Systems that prioritize transparency, local autonomy, civic trust, and cross-sector coordination consistently demonstrate greater agility and learning capacity in the face of disruption. Conversely, the paper finds that policy paralysis, democratic backsliding, and fragmented governance structures often undermine resilience, especially in fragile or resource-constrained environments. These insights underscore the necessity of rethinking resilience as an anticipatory and context-sensitive process that is both inclusive and systemically integrated. This paper contends that building resilience in the age of permacrisis requires more than institutional endurance-it demands systemic transformation. Adaptive resilience, as conceptualized here, moves beyond the limitations of restoration-based models by positioning resilience as a dynamic process of continuous learning, innovation, and inclusive governance. The findings underscore that effective responses to complex, layered crises depend on the ability of systems to reorganize, integrate diverse knowledge sources, and reconfigure governance architectures in real time. As global challenges intensify, adaptive resilience offers a forward-looking paradigm-one that enables societies not only to withstand disruption, but to thrive through it by fostering institutional agility, democratic participation, and social cohesion. Such a shift is not optional but imperative for achieving sustainable, equitable, and anticipatory governance in a world marked by deepening volatility.
Keywords: Adaptive Resilience, Permacrisis, Collaborative Governance, Adaptive Capacity, Social Capita
Trend-Matching and Performance of Pay-Tv Entertainment Companies in Kenya
No full textThe role of trend-matching capabilities in Kenya's pay-TV entertainment industry is critical in enabling companies to respond effectively to rapidly evolving consumer preferences and competitive dynamics. This study examined how trend-matching practices influence organizational performance of pay-TV entertainment companies in Kenya, focusing specifically on market analysis and consumer preference tracking capabilities. The research investigated how systematic pattern recognition, market intelligence frameworks, and consumer behavior analysis affect business outcomes in this highly competitive sector. The theoretical framework was anchored on Pattern Recognition Theory. This study employed a correlational research design and targeted all ten licensed pay-TV companies operating in Kenya as registered with the Communications Authority of Kenya. A census approach was utilized to include all 132 management personnel across the licensed operators, eliminating sampling error and ensuring comprehensive industry representation. Key management personnel, including senior executives, departmental heads, middle managers, and team leaders with strategic responsibilities, were selected based on their involvement in strategic decision-making processes. Data collection involved structured questionnaires with five-point Likert scale measurements. Data analysis was conducted using SPSS to facilitate examination of quantitative data, including simple linear regression models and descriptive statistics to construct and estimate relationships. Results were presented using tables and statistical analyses to enhance clarity of findings and recommendations. Throughout the research, strict adherence to ethical standards was maintained to ensure integrity and reliability of study results. The correlation analysis showed a strong positive relationship between trend-matching and organizational performance (r = 0.707, p < 0.001). Simple linear regression analysis indicated that trend-matching accounts for 50.0% of the variance in organizational performance (R² = 0.500), with an F-statistic of 112.200 (p < 0.001). The regression coefficient demonstrated a significant positive impact, with a Beta value of 0.707 (t = 10.593, p < 0.001), indicating that a one-unit increase in trend-matching capabilities leads to a 0.682-unit increase in organizational performance. The study concluded that there was a strong positive relationship between trend-matching capabilities and organizational performance in Kenya's pay-TV industry. Companies implementing systematic market analysis achieved superior conversion rates, customer retention, and revenue optimization compared to those using informal assessment methods.
Keywords: Trend-Matching, Market Analysis, Organizational Performance, Pay-TV Companies, Kenya, Strategic Innovatio
Employee Motivation and Organizational Performance in The Public Sector in Kenya: A Case Study of Kenya National Examinations Council
No full textThe study examined the influence of employee motivation on organizational performance in the public sector, focusing on the Kenya National Examinations Council (KNEC). The study employed a descriptive design using questionnaires and SPSS analysis to examine how training, rewards, work environment, and work-life balance affect organizational performance among KNEC employees. The findings revealed that three motivational factors—rewards and incentives, employee training and development, and work environment—had significant positive effects on organizational performance, while work-life balance had a weak but negative effect. The regression coefficients showed that rewards and incentives (B = 0.584, p < 0.001) were the strongest predictor of performance, followed by work environment (B = 0.328, p < 0.001) and employee training and development (B = 0.307, p < 0.001), whereas work-life balance had a negative coefficient (B = -0.095, p = 0.039). The overall model indicated a strong relationship (R = 0.876), explaining 76.8 percent of the variance in organizational performance (R² = 0.768, F = 147.131, p < 0.001). The study concluded that equitable and transparent reward systems, continuous training, and a supportive work environment are critical in enhancing productivity and service delivery in public institutions. It recommends that KNEC strengthen motivation strategies by aligning training programs with departmental needs, improving reward fairness and recognition mechanisms, and adopting flexible but performance-conscious work-life policies to sustain institutional efficiency, employee engagement, and organizational excellence.
Keywords: Employee Motivation, Organizational Performance, Public Sector, Kenya, National Examinations Council
Exploring the Impact of School Leadership Practices on Teachers' Job Performance in Rwanda
No full textThis study explores the impact of effective school leadership practices on teachers’ job performance in primary schools in Rubavu District, Rwanda. The research focuses on three key leadership practices: setting a clear vision and direction, leading teaching and learning. The study employs a quantitative research approach, utilizing regression analysis and ANOVA to assess the relationship between these leadership functions and teacher performance. The findings indicate that setting a clear school vision and direction has the strongest positive correlation with teacher performance (R = 0.933, R² = 87.1%), highlighting the crucial role of visionary leadership in motivating and aligning teachers with school goals. Leading teaching and learning, while moderately correlated (R = 0.693, R² = 48.1%), still plays a vital role in instructional effectiveness and teacher development. The study concludes that strategic leadership in schools, particularly in vision-setting, instructional leadership, and resource management, is essential for enhancing teacher performance and overall school effectiveness. Based on these findings, the study recommends targeted professional development programs for school leaders, and enhanced teacher engagement in decision-making processes. This research contributes to the growing body of literature on educational leadership and offers valuable insights for policymakers, school administrators, and educators on optimizing leadership practices for improved teacher performance and student success.
Keywords: Resource management, School leadership practices, Performanc
Investigation of Mathematics Anxiety Management Strategies on Secondary Students ‘Performance Lower Level in Rwanda. The Case of G.S. Gacuba II A in Rubavu District (2023-2024)
No full textMathematics anxiety is a prevalent issue affecting students' academic performance in secondary schools. This study investigates the impact of different mathematics anxiety management strategies on students' performance at G.S. Gacuba II A in Rubavu District, Rwanda, during the 2023–2024 academic year. The research specifically examines the relationship between somatic, emotional and cognitive anxiety and students’ mathematical performance, utilizing statistical models to determine their predictive power. A quantitative research design employed in collecting data from secondary school students using structured questionnaires. Multiple regression analysis conducted to assess the predictive strength of somatic, emotional and cognitive anxiety on mathematics performance. Findings reveal that cognitive anxiety (R = 0.810, R² = 0.657, Adjusted R² = 0.588, Std. Error = 0.37067) and somatic anxiety (R = 0.850, R² = 0.723, Adjusted R² = 0.668, Std. Error = 0.33302) significantly impact students’ mathematics performance. The overall model (R = 0.776, R² = 0.602, Adjusted R² = 0.522, Std. Error = 0.39940) suggests that mathematics anxiety accounts for a substantial proportion of the variance in students’ performance. The study concludes that effective anxiety management strategies, including relaxation techniques, cognitive restructuring, and teacher support, play a crucial role in improving students’ engagement and achievement in mathematics. Based on the findings, the study recommends the adoption of student-centered pedagogical approaches, anxiety-reduction interventions, and structured guidance programs to enhance mathematics learning outcomes in Rwandan secondary schools.
Keywords: Anxiety Management Strategies, Students’ Performance, and pedagogical approache
Teachers' Perception towards Utilization of Information and Communication Technology for Teaching Basic Technology in Chanchaga Local Government, Niger State
No full textThe study was conducted to ascertain the perception and utilization of ICT tools in Chanchaga Local Government area of Niger state, Nigeria. Three research questions and three hypotheses guided the study. The target population for the study consisted of all Basic technology teachers in Chanchaga Local Government secondary schools. One hundred respondents completed the questionnaires used for data collection. Percentage and mean were used to answer research questions. Data collected were coded using statistical package for sciences version 20.0 for windows. The findings revealed that: (1) ICT tools were available in secondary schools for teaching Basic technology (2) Basic Technology teachers maked use of ICT tools for teaching Basic Technology (3) Basic Technology teachers perceived ICT tools to be useful for teaching Basic Technology in Chanchaga Local Government area of Niger state. Recommendation includes provision of ICT tools for training of teachers by the government to actualize the National Policy on Education (FRN. 2004). That computers and other equipment for the use of ICT for teaching introductory technology should be supplied by the government and so on.
Keywords: Information and Communication Technology, Technology Curriculu
Influence of Host-Tourist Relations on Sustainable Community Development in Lake Region Economic Bloc, Kenya
No full textThis study sought to establish the effect of effect of host-tourist relations on sustainable community development in Lake Region economic bloc. The study was anchored on the Social Exchange and Sustainable Development theories, and employed a mixed method research design. The target population was 109 homestay operators, 14 County Directors of Tourism, 23,000 guests and 36,577 gazetted village elders. The stratified simple random sampling was used to select homestays operators, tourists (guests) and village elders. Krejcie and Morgan (1973) Table was used to select a sample of 384 guests and 384 village elders randomly. Data was collected using questionnaires and interviews. The questionnaire was tested for face and content validity using expert judgement, and for construct validity using Principal Component Analysis, with Cronbach’s Alpha testing for reliability. Quantitative data analysed using descriptive (means and standard deviation) and inferentially using linear regression analysis. The results indicated that host-tourist relations had a positive significant effect on sustainable community development (ẞ = 0.825; p < 0.05). The study concludes that host-tourist relations significantly affect sustainable community development in the Lake Region Economic Bloc. The study thus recommends that the ministry of tourism should foster positive and mutually beneficial relationships between hosts and tourists. Government agencies, tourism industry players, non-governmental organizations (NGOs), and local communities should work together to develop policies and strategies that promote sustainable community development and responsible tourism practices.
Key Words: Host-Tourist Relations, Sustainable, Community Development.