Stratford Peer Reviewed Journals and Books
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The Impact of Public Procurement Law on Supply Chain Performance
No full textThis article explores the multifaceted and far-reaching impact of public procurement law on supply chain performance across various industries and sectors. Public procurement law plays a vital role in governing the acquisition of goods, services, and works by government entities, aiming to promote fair competition, transparency, and accountability in the procurement process. By adhering to these legal frameworks, government agencies can streamline their procurement procedures, resulting in improved supply chain efficiency. Transparency is a fundamental aspect of public procurement law, fostering a competitive environment by ensuring open bid evaluation and fair contract awarding processes. Ethical and lawful procurement practices encouraged by the law help mitigate corruption and unethical business practices, enhancing the integrity of the supply chain. This article emphasizes the importance of lawful procurement practices and their role in building trust and confidence among suppliers, investors, and the public. When suppliers perceive a fair selection process, they are more inclined to invest in long-term relationships, leading to increased innovation, reliability, and timely delivery of goods and services. Furthermore, the article calls for action to enhance supply chain performance through compliance. Policymakers should continuously review and update procurement regulations to keep pace with changing market dynamics. Embracing technology and capacity building for procurement teams can streamline processes and promote transparency. Suppliers should invest in developing internal governance systems and policies to comply with regulations and compete effectively. Ultimately, upholding lawful procurement practices is a collective responsibility that leads to a transparent, efficient, and resilient supply chain ecosystem benefiting all stakeholders. Compliance and ethical conduct not only improve supply chain performance but also enhance public trust in government operations, driving economic growth and societal development.
Keywords: Public Procurement Law, Supply Chain Performanc
Effect of Sustainability Reporting on Firm Value: Evidence from the Nairobi Securities Exchange, Kenya
No full textThe main objective of this study was to examine the effect of sustainability reporting on firm value among companies listed in the Nairobi Securities Exchange, Kenya. The study target population includes all 64 NSE listed companies. The study employed use of secondary data collected from annual reports sourced from NSE and firms’ websites for eleven (11) years from 2012-2022. Content analysis technique was employed for collection of data using data collection sheet. This research used longitudinal research and correlational research design. Findings showed that economic reporting had negative and significant effect on firm value, while environmental reporting had positive and significant effect on firm value. However, social reporting had insignificant effect on firm value. This suggests that social reporting practices may not have a substantial impact on firm value in the context of the Nairobi Securities Exchange. Firms that engaged in extensive economic reporting were associated with lower firm value. Firms with higher levels of environmental disclosure were associated with higher firm value. Therefore, the study recommends that companies should review their current economic reporting practices and identify areas where they can reduce the amount of information they disclose. Managers should focus on enhancing the quality and transparency of economic and environmental reporting to improve investor confidence and trust.
Keywords: Environmental Reporting, Firm Value, Social Reporting, Economic Reportin
Loan Restructuring and Financial Performance of Commercial Banks in Kenya
No full textThe study sought to evaluate the influence of corporate restructuring on the performance of commercial banks in Kenya. The financial performance of Kenyan banking institutions has been improving over the last five years. However, there was a reported decline in profitability in 2020, dropping from 159.1 billion shillings to 112.1 billion shillings. The specific objectives were to determine the effects of loan restructuring, non-interest income restructuring, financial technology restructuring, and the moderating role of bank size in the relationship between corporate restructuring and financial performance. The study was based on four theories: the technology acceptance model, financial intermediation theory, agency theory, and profit maximization theory. It adopted a causal research design and included 40 commercial banks operating in Kenya as of December 31, 2020, as the population. Secondary data collected from the Central Bank of Kenya covered a two-year period from January 2020 to December 2021. The data analysis included the use of descriptive statistics and panel regression analysis. Diagnostic tests were also performed to confirm that the assumptions required for regression analysis were satisfied. The findings revealed that loan restructuring, non-interest income restructuring, and financial technology restructuring all had a positive and statistically significant impact on the financial performance of commercial banks in Kenya. However, bank size did not moderate the relationship between corporate restructuring and financial performance. In conclusion, corporate restructuring significantly influenced the financial performance of commercial banks in Kenya. Based on the findings, the study recommends that banking institutions should enhance their use of technology in banking services. Commercial banks can develop secure and tamper-proof banking applications with robust security measures. Additionally, they can leverage technology to assess customers' creditworthiness based on personal information. Finally, commercial banks should consider diversifying their operations to improve their overall performanc
Effect of Ethical Accounting Practices on Quality Financial Reporting in Manufacturing Firms in Rwanda: Case of Sulfo Rwanda Industries
No full textManufacturing industries like Sulfo Rwanda is facing the issues of quality financial reports such as the users lack of getting full understanding about all company operations and activities, delay in reports, there is some manipulating of accounting figures. The main purpose of the study was be to examine the effect of ethical accounting practices on quality financial reports in manufacturing firms in Rwanda. To establish the effect of objectivity on quality financial reports in Sulfo Rwanda industries, to examine the effect of professional competence on quality financial reports in Sulfo Rwanda industries, to analyze the effect of integrity on quality financial reports in Sulfo Rwanda industries. The study was use descriptive research design. The study population was be composed only 43 employees of Sulfo Rwanda industries working in department fitting to provide concerning to the study objectives. This study was use purposive sampling techniques for selecting 43 employees working in Sulfo Rwanda industries as respondents. Descriptive statistics was use to analyze quantitatively, Mean, standard deviation and regression analysis was be taken into consideration to make the analysis. A statistical package for Social Sciences (SPSS) version 22.0 was use to analyze the data collected throughout a questionnaire. Regression results indicate the coefficient of objectivity was (β1=0.453, p=0.008, <0.05 level of significance) showed a statistically significant relationship between objectivity and quality financial reports in Sulfo Rwanda industries. The coefficient of professional competence was (β2=0.355, p=0.000, <0.05 level of significance) showed a statistically significant relationship between professional competence and quality financial reports in Sulfo Rwanda industries. The coefficient of integrity was (β3= 0.192, p=0.004, <0.05 level of significance) showed that integrity has positive and significant effect quality financial reports in Sulfo Rwanda industries. The coefficient of independence was (β4=0.605, p=0.002, <0.05 level of significance) showed a statistically significant relationship between independence and quality financial reports in Sulfo Rwanda industries. Sulfo Rwanda industries should invest in ongoing training and development programs for its financial professionals. This will ensure that the workforce possesses the necessary skills and knowledge to maintain high standards in financial reporting
Effect of Electronic Tax System on Tax Collection Performance in Rwanda: A Case of Musanze District (2018-2021)
No full textThis research evaluated the impact of the electronic tax system on tax collection performance in Musanze District, Rwanda. Specifically, this study aimed to examine the effect of electronic tax filing on tax collection performance in Musanze District; to evaluate the effect of electronic tax payment on tax collection performance in Musanze District and to determine the effect of electronic billing machines on tax collection performance in Musanze District. The study adopted a correlational research design. The target population included registered taxpayers in Musanze District. A sample of 100 respondents was selected by a simple random sampling technique. Data collection process involved structured questionnaires and documentary review. Data were analysed employing both descriptive and inferential statistical analyses. The response rate was 97%. The findings reveal a positive influence of electronic tax filing, electronic tax payment, and Electronic Billing Machines (EBMs) on tax collection performance, emphasizing their convenience, efficiency, and accuracy, which lead to reduced compliance costs, increased taxpayer compliance, and augmented government revenue collection. Correlation analyses demonstrate significant positive relationships between the adoption of electronic systems and tax collection performance, highlighting the potential for increased tax revenue as these systems gain popularity. However, concerns related to data security (Mean=3.82, SD.=0.595), limited familiarity (Mean=2.86, SD.=1.000), and personal usage issues (Mean=2.57, SD.=0.853) are evident, underscoring the need for awareness campaigns and user-friendly interfaces. Despite these challenges, the study emphasizes the potential of electronic tax systems to modernize tax submission, enhance efficiency, and promote voluntary compliance, contingent on addressing awareness and adoption barriers. Specifically, the findings regarding electronic tax filing indicate a strong correlation with tax collection performance (r = 0.618, p = 0.039). Electronic tax payment also exhibits a positive relationship with tax collection performance (r = 0.764, p = 0.027), although participants express some dissatisfaction with payment options (Mean=2.90) and perceived effectiveness in reducing tax evasion (Mean=2.75). Similarly, EBMs are shown to reduce collection time (Mean=4.36), improve tax data accuracy (Mean=4.27), and increase confidence in tax compliance (Mean=4.00), but respondents express moderate satisfaction with operational aspects (Mean=2.71) and transactional capacity (Mean=2.65). Findings indicated a positive and statistically significant linear relationship between electronic tax components and tax collection performance (R = 0.759, F-statistic=2.779, p = 0.001). Around 73.7% of tax collection performance variation is attributed to these variables (adjusted R square = 0.737). However, respondents express moderate satisfaction with payment options and effectiveness in reducing tax evasion. The study recommends focused awareness campaigns, user-friendly interfaces, enhanced data security measures, diverse payment options, targeted training, and collaborations with financial institutions for seamless integration.
Key words: Electronic Tax System, Electronic Tax Filing, Electronic Tax Payment, Electronic Billing Machines, Tax Collection Performance
Liability Insurance and Performance of Insurance Companies in Rwanda: A Case of Sonarwa General Insurance Company Ltd
No full textIn Rwanda, insurance companies have introduced liability insurance as a popular product, but the increasing number of fraudulent claims and legal proceedings disrupt the sector's operations and overall performance. This study, conducted on liability insurance and the performance of insurance companies in Rwanda with a focus on SONARWA General Insurance Company Ltd. This study employed a mixed research approach, incorporating both quantitative and qualitative methods conducted among 90 employees of SONARWA GI recruited using a stratified sampling method combined with a purposive sampling. Obtained data was processed and analyzed using SPSS version 21. Descriptive statistics was used to get background information of the study population, and bivariate and multivariate analysis was used to evaluate the liability insurance on performance of GI. In the first set of data, respondents generally agreed on the challenges in liability insurance claims, with a mean score of 4.3470 and low variation. They perceived slightly more challenges in lawsuits (mean 4.3516), but still with low variation, suggesting moderate consensus. For knowledge among insured, perceptions varied more (mean 4.0868) with some significant differences in how respondents understood liability insurance challenges. The performance of SONARWA was considered as the way following: "Share Market" has moderate ratings (mean 3.808) and diverse opinions (high variation). "Profits" are positively perceived (mean 4.442) with strong consensus (low variation). "Meeting Stakeholder Needs" is highly rated (mean 4.479) with minimal variation, showing strong agreement among respondents. The study indicates that respondents generally have a collective understanding of challenges in liability insurance claims, with minimal variation. While they perceive slightly more challenges in lawsuits, there is still moderate consensus. However, perceptions about knowledge among insured vary significantly. Regarding SONARWA General Insurance, their performance in the "Share Market" receives moderate ratings with diverse opinions, while "Profits" are positively perceived with strong consensus. The company excels in "Meeting Stakeholder Needs," with a highly positive and widely agreed-upon perception.
Keywords: Liablity Insurance, Performance, Insurance Companies, Rwanda, Sonarwa General Insurance Company Lt
Macroeconomic Dynamics and Profitability of Insurance Firms Listed at Nairobi Securities Exchange, Kenya
No full textKenya’s insurance industry has been growing steadily since 2013, with premium revenue and capital investment increasing. However, Return on Assets has declined over the past four years and reached an all-time low in 2022 compared to the previous five years which was partly attributed to the reforms introduced to cater the impact of Corona virus pandemic on and the need to close infrastructure gaps. As a result, as gross domestic product grows, firm deposits and loans rise along with interest income and loan losses. This study focused on understanding how macroeconomic dynamics affect the profitability of insurance companies listed on NSE in Kenya. It particularly looked into how changes in exchange rates, interest rates, and the overall price rise in the economy (inflation) influence these companies' profits. The study was guided by the theoretical frameworks of purchasing power parity, deflation, the balance of payment, the classical theory of interest, and the balance scorecard model. The study adopted an explanatory research design and targeted the six insurance firms listed on the NSE. The secondary data collection for this study involved the utilization of secondary data sheets. Data was obtained from the official audited financial statements of the insurance firms for the fiscal years 2016 through 2022. Data analysis involved both descriptive and inferential analysis. Inferential analysis incorporated both correlation analysis and panel regression analysis. The study found that key macroeconomic dynamics had significant impact on the profits of insurance companies listed on the NSE, explaining 57.71% of the changes in profits (R-squared = 0.5771). It discovered that while changes in the exchange rate do not significantly affect profits (β = 0.0761, p = 0.5358), higher interest rates lead to higher profits (β = 2.1647, p = 0.0233), and inflation negatively impacts profits (β = -0.3447, p = 0.0011). The study's validity is supported by strong statistical evidence (F-statistic = 21.0100, p-value = 0.0000). It suggests that insurance companies in Kenya should focus on managing risks related to economic changes to improve their financial performance. This research adds to the understanding of how macroeconomic dynamics affect the profitability of insurance firms in the context of the NSE.
Keywords: Exchange rates, insurance profitability, interest rates, inflation impact, Nairobi Securities Exchang
The Link between Capital Adequacy and Financial Stability: Evidence from Deposit Taking Savings and Credit Co-Operative Societies in Kenya
No full textIn Kenya, financial stability of Deposit Taking (DT) Savings and Credit Cooperative Societies (SACCOs) as evident in non-performing loans of DT SACCOS has been an issue of concern over the past few years due to evidence indication fluctuating trends. Consequently, should this continue then this sector’s contribution to financial intermediation through provision of financial services will be negatively affected. Though DT SACCOs have sought to enhance their capital adequacy, its effect on enhancement of financial stability remains an issue for further empirical investigation. In view this, the study sought to investigate the effect of capital adequacy on financial stability of DT SACCOS in Kenya. The study was anchored on agency theory. Positivist research philosophy was adopted in this study. The study adopted explanatory research design. The target population for the study comprised 160 DT SACCOs which were fully operational in the period. A census approach was used for the study. This study utilized quantitative secondary data which was obtained from the society’s financial statements and supervision reports from the savings and credit cooperatives regulatory authority. The study utilized annual panel data for the period of 2017 to 2021. Multicollinearity test, normality tests, autocorrelation test, homoscedasticity, stationarity test and model specification test were carried out prior to panel data analysis. Data was analyzed using descriptive statistics, Pearson’s correlation analysis and panel regression analysis. STATA software was used for the analysis. Ethical standards and regulations were adhered to accordingly. The regression results revealed that capital adequacy had a significant negative effect on NPLs (β=-0.3249614, p-value=0.000<0.05). In view of the findings, the study recommends that regulatory authorities in Kenya should take a proactive response in establishing and enforcing robust capital adequacy standards for DT SACCOs. In addition, higher levels of capital adequacy and improved management efficiency are associated with reduced NPLs ratio among DT SACCOs in Kenya, hence improved financial stability.
Keywords: Capital Adequacy, Financial Stability, Deposit Taking, Savings and Credit, Co-Operative Societie
The Effect of Online Tax Payments on Tax Compliance among Large Taxpayers in the North-Rift Region, Kenya
No full textTax compliance is a key emphasis area of the Kenya Revue Authority in a bid to maximise revenue collection to finance government services. However, complex processes and ineffective methods of revenue generation continue to mar tax compliance especially among the large taxpayers in the North Rift. This study sought to investigate the effect of online tax payments on tax compliance among large taxpayers in the North-Rift region, Kenya. The study was underpinned by the general systems theory. A descriptive research design was adopted by the study to guide data collection and analysis procedures. The study’s target population was 200 large taxpayers operating in North rift region, Kenya from which a random sample of 133 participants was selected with the use of Yamane’s (1967) formula. The study utilized structured questionnaires as a tool for data collection from 133 financial managers purposively selected from the 133 randomly selected large taxpayer companies in North rift region, Kenya. Data collected was entered into the Statistical Package for Social Sciences (SPSS) and quantitatively analysed using descriptive statistical techniques namely mean, percentages, and standard deviations, and inferential statistical analyses techniques namely correlation analysis and multinomial logistic regression analysis. The findings were presented in figures and tables. The study established significant and positive influence of online tax payments (Coeff=0.108, Sig=0.032). The study’s findings are capable of being used to inform research, revenue collection practice, and academic/research.
Keywords: Kenya Revenue Authority, tax compliance, North-Rift Region, online tax payments
Financial Risk Attitude, Environmental Dynamism and Financial Sustainability of Small and Medium Enterprises in Nairobi, Kenya
No full textThe specific objectives were to establish the effect of financial risk attitude on financial sustainability and whether environmental dynamism moderates the relationship. The study was guided by the dual process theory. The study adopted explanatory research design. The sample size of 383 SMEs was drawn from a target population of 8947 SMEs located within Nairobi’s Central Business District using simple random and stratified sampling techniques. The main unit of analysis was the business owners of the SMEs. The quantitative data was collected using structured questionnaires and analyzed using both descriptive and inferential statistics. The study used hierarchical regression model to test hypotheses formulated. The results indicate that financial risk attitude had a positive and significant effect on financial sustainability. However, environmental dynamism significantly does not moderate the relationship between financial risk attitude and financial sustainability. The results underscore the pivotal role of financial risk attitude as key determinants shaping the financial sustainability of SMEs. The study recommends SMEs improve financial risk attitudes highlighting significant managerial, policy, and theoretical implications. For managers, proactive risk-taking and informed decision-making are crucial for navigating improving financial sustainability.
Keywords: Financial Risk Attitude, Financial Sustainability, Environmental Dynamism, SME