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Effect of Financial Literacy on Financial Performance of Small and Medium-Sized Enterprises in Kigali City, a case of Small and Medium-Sized Enterprises in Nyarugenge District
No full textThe study focused on assessing the impact of financial literacy on the financial performance of Small and Medium Enterprises (SMEs) in Nyarugenge district, Kigali city. Financial literacy, encompassing financial planning, record-keeping, and knowledge of financial access, was investigated to understand its influence on SME performance. Using a correlational design and quantitative methods, the study involved 211 SME proprietors across trade, manufacturing, and service sectors in Nyarugenge district. The research utilized a questionnaire as the primary data collection tool, ensuring a 100% response rate. Purposive and convenience sampling techniques were employed for participant selection. Findings indicated a significant relationship between financial planning skills and the financial performance of SMEs in Nyarugenge district, suggesting that proficient financial planning positively impacts financial outcomes. Similarly, effective record-keeping skills were linked to improved financial performance among surveyed SMEs. Additionally, knowledge of financial access significantly affected the financial performance of SMEs, indicating that understanding funding sources contributes to better financial outcomes. The study underscores the importance of financial literacy in enhancing SME success and advocates for tailored training and support in financial planning, record-keeping, and understanding financial access. These findings hold significance for policymakers, financial institutions, and business support organizations aiming to bolster SME accomplishments. Recommendations for SMEs in Nyarugenge district include enhancing financial resource allocation skills, prioritizing effective financial reconciliation with bank records, improving banking literacy among owners, seeking training for better financial decision-making, and staying updated on available funding opportunities. These actions aim to optimize fund utilization, ensure transparency and maximize financial opportunities
Health Corporate Social Responsibility and Financial Performance of Telecommunication Companies in Kenya
No full textThe purpose of the study was to investigate the impact of health Corporate Social Responsibility (CSR) on the financial performance of telecommunication companies in Kenya. The population of the study comprised of 6,597 employees from the three major telecommunication companies in Kenya: Safaricom, Airtel Kenya and Telkom Kenya, with 3,859, 1,694, and 1,044 employees respectively. The unit of observation was employees in top and middle-level management positions due to their pivotal roles in strategic decision-making processes within organizations. The sample size was determined using Yamane's formula, resulting in 353 employees from top and middle-level management. Data collection employed semi-structured questionnaires, enabling the collection of quantitative and qualitative data. The collected data was analyzed using SPSS version 29 software. The study found a positive and significant association between health CSR programs and financial performance (r=0.654, p=0.000). The regression analysis also discovered a positive and significant relationship between health CSR programs and financial performance (β = 0.640, t (324). In conclusion, Health CSR programs can be a valuable tool for improving the health and well-being of employees, customers, and the community. These programs can take many forms, but some common examples include health awareness, preventive services, and health partnerships. Health awareness can include providing employees with information about health risks and how to prevent them, as well as organizing educational events and campaigns. The study recommends that telecommunications companies should provide health education and prevention services. Companies should focus on educating their employees about various health risks and effective ways to avoid them. This initiative could involve organizing regular educational events and health awareness campaigns within the company. Providing free or discounted health screenings, vaccinations, and other preventive care services to employees is highly recommended. This approach not only supports employee health but also demonstrates the company’s commitment to their well-being. Companies are encouraged to invest in ergonomic workstations. Ergonomically designed workspaces can significantly reduce physical discomfort and prevent long-term health issues among employees. Offering healthy food choices in the workplace is another key recommendation. This initiative can encourage better eating habits and contribute to the overall health of the workforce. Facilitating opportunities for physical activity within the workplace is also recommended. This could include setting up a gym, organizing sports events, or even simple initiatives like encouraging walking meetings or stretch breaks.
Keywords: Health CSR, financial performance, telecommunication companies, Kenya
Asset Quality and Financial Stability: An Empirical Review of Commercial Banks in Kenya
No full textThe purpose of this paper is to evaluate the role of asset quality on the financial stability of commercial banks in Kenya. The study employed an unbalanced panel dataset comprising 43 commercial banks in Kenya spanning the period from 2000 to 2021, resulting in 789 bank-year observations. Asset quality was assessed using non-performing loans (NPLs), while financial stability was measured using Z-scores. Utilizing panel data estimation methods, the findings indicate a negative relationship between asset quality and financial stability, emphasizing that an increase in NPLs leads to a decrease in financial stability within the banking sector. The findings are consistent even after using different measures of financial stability i.e., Risk adjusted return on assets (RAROA) and Risk adjusted return on equity (RAROE). Moreover, capital adequacy which is employed as a control variable, reveal that improving capital adequacy can provide the commercial banks with the required stability to absorb losses and improve the ability to encounter unexpected financial shocks. The research results provide important policy implications for regulators, bank managers and policy makers on the better methods of customer screening to reduce the level of non-performing loans and prudent management of credit risk
Effect of Tax Reform on Revenue Collection Performance in Rwanda: A Case of Rwanda Revenue Authority Headquarters
No full textThis study aimed to evaluate the effect of tax reforms on revenue collection performance at RRA. Specifically, the study examined the effect of tax policy reforms, administrative policy reforms, and technological tax reforms on the revenue collection performance at RRA. The study adopted a descriptive research design and targeted 90 employees of RRA. Data were gathered from 74 respondents selected by the purposive sampling technique. Data were gathered through questionnaires and documentary reviews and analyzed using both descriptive and inferential statistics. The coefficient of correlation (R) was found to be R = 0.6294. This implies that there was a positive and moderate correlation between tax reforms and revenue collection performance at RRA Headquarters. Moreover, the R2 (coefficient of determination) represented the measure of variability in the revenue collection performance. From the model, (R2 = 0.6738) shows that tax reforms account for 67.38% of the variation in revenue collection performance. This implies that, while keeping other factors constant, the adopted tax reforms explained the most of the share in the revenue collection performance under study. The study concluded that comprehensive tax reforms play a role in shaping revenue collection performance at the Rwanda Revenue Authority (RRA) Headquarters. By implementing reforms that encompass tax policy, administration, and technology, RRA and other tax authorities optimized revenue collection efficiency and effectiveness. The study recommended that RRA should continue to pursue comprehensive tax reforms that encompass tax policy, administrative, and technological aspects. A holistic approach to reform can lead to significant improvements in revenue collection efficiency and effectiveness.
Keywords: Tax reforms, Revenue collection performance, Tax policy reforms, Administrative policy reforms, Technological tax reform
Corporate Social Responsibility and Performance of Telecommunications Firms in Kenya
No full textEmpirical studies show that corporate firms make substantial contributions to the political infrastructure and socio-economic development of both developed and developing countries through corporate social responsibility (CSR). However, in the telecommunications industry, there is limited literature demonstrating the influence of CSR on firm performance. Telecommunications firms in Kenya spend an estimated one billion shillings annually on CSR, yet some firms have shown exemplary growth while others have experienced declining fortunes. This study aimed to determine how CSR influences the performance of telecommunications firms in Kenya, focusing on the specific objectives of environmental responsibility, consumer protection, philanthropic responsibility, economic expectations responsibility, and ethical responsibility. The study employed a descriptive research design with a positivism philosophy, targeting telecommunications firms in Kenya. A sample size of 393 respondents was determined using Yamane's formula, and stratified random sampling was used to select respondents from each firm. Questionnaires were administered to collect data. Quantitative and qualitative data were analyzed using SPSS Version 23 and Excel, with descriptive statistics presenting findings in tables and charts, and inferential statistics utilizing basic and multiple regression analysis. The study found strong correlations between the performance of telecommunications firms and environmental responsibility (r=0.859, p=0.023<0.05), philanthropic responsibility (r=0.838, p=0.001<0.05), consumer protection (r=0.796, p=0.028<0.05), economic expectations responsibility (r=0.855, p=0.042<0.05), and organizational culture (r=0.877, p=0.000<0.05). The interaction between organizational culture and combined CSR explained 14.1% of the variations in firm performance, with an overall significant moderating influence (F (5, 298) =373.752, p<4.66E-126<0.05). The study concluded that economic expectations responsibility had the greatest influence on the performance of telecommunications firms in Kenya, followed by philanthropic responsibility, environmental responsibility, and lastly, consumer protection. Recommendations include government-provided tax breaks or financial incentives for firms demonstrating strong CSR commitment and practitioners prioritizing stakeholder engagement throughout CSR planning and implementation processes. The study recommends that the government should consider providing tax breaks or other financial incentives to firms that demonstrate a strong commitment to CSR, thus fostering a culture of responsibility within the industry. Practitioners should also prioritize stakeholder engagement throughout the CSR planning and implementation processes.
Keywords: Corporate Social Responsibility, Philanthropic responsibility, Firm performance, Stakeholder engagemen
Microfinance Services and Household’s Income among Saving and Internal Lending Community Groups in Evurore Ward, Embu County, Kenya
No full textThe research established loans, savings and training services effect on the income of household’s income among saving and internal lending community groups in Evurore Ward of Embu County, Kenya. Greeman Bank model, Saving-Asset Accumulation model and Village Saving Model served as theoretical base of the study. Descriptive design was implemented following a population of 562 SILC practicing group members in Evurore Ward where proportionate sampling technique was applied to arrive at 291 respondents. Primary data was sourced employing the utilization of structured questionnaire. The outcome unveiled a significant positive effect of microfinance loans on household’s income; the effect of microfinance savings on household’s income among SILC groups was not statistically significant but positive; microfinance training had a significant positive effect on household’s income among SILC groups in Evurore Ward, Embu County, Kenya. The survey recommends that to further enhance the income-generating potential of SILC groups, it is necessary to promote increased access to microfinance loans. This can be achieved by collaborating with microfinance institutions, NGOs, and government agencies to expand the availability of microfinance loan programs tailored to the needs of SILC groups in the area.
Keywords: Microfinance Services, Microfinance Lending, Microfinance Training, Microfinance Savings, Household Incom
Equity Investment and Financial Performance of Listed Investment Firms in Kenya
No full textThe maximization of an organization benefit is vital and remains the critical goal of any institution in business. Investment decision making in most corporate institutions is regarded as a financial underlying decision executed by top management in the financial sector which include financing decisions and dividends decisions. Making a decision on why to invest on various financial securities is a fundamental goal to the financial performance of an investment firms. Large organizations are faced with portfolio investment problem; this is because there are so many investment projects to be invested on. Nearly all the listed investment firms in Kenya have registered declining profitability in the last five years. The aim of the study was to assess how equity investment affected financial performance of listed investment firms in Kenya. Modern portfolio theory anchored this investigation and was supported by expected utility theory, liquidity preference theory and active portfolio management theory. Explanatory research design provided basis for this research. The study focused on all five listed investment firms in Kenya. The study employed census since investment firms in Kenya are few and can be studied in the entirety. Informed by the availability of already published information, this study obtained data from secondary sources where it covered a period from 2011 to 2021. Since the study targeted various firms in different periods then panel analysis was considered the most appropriate mode data analysis that was borrowed. This mode of analysis enabled the study to test the relationship of study variables as envisaged by the study goal. Finding of the study found out that equity investment positively and significantly affected profitability of listed investment firms in Kenya. Based on the results it can be concluded that equity portfolio investment is an essential predictor of financial performance. The study recommends the usage of the finding as benchmark by regulators in improving investment of portfolio selection in the capital market.
Keywords: Financial performance, equity investment, listed investment firms, Kenya
 
Impact of Disclosure of Non-Financial Information on Attracting Investment in Iraq
No full textThe research aimed to show the impact of the quality of full disclosure of non-financial information on the effectiveness of attracting investments by identifying the non-financial information that must be available in addition to the financial information that has been disclosed in the financial reports, due to the insufficiency of financial information that companies disclose in their financial reports, as the research focuses on a main premise, which is that the quality of disclosure of non-financial information has a significant impact on attracting investment, it has The research relied on the questionnaire form that was distributed to academics working in Iraqi universities, which numbered 47 in order to test and analyze the results. The study found the disclosure of non-financial information provides a true picture of the company's position as well as financial information that enables investors to make investment decisions because it is disclosed periodically or immediately after its occurrence. Transparent disclosure of non-financial information reduces the risks faced by investors because investors can assess a company's ability to achieve its long-term goals by understanding the company's impact on the environment and society. Disclosure of non-financial information helps improve the company's reputation among customers, consumers and the local community, which increases its attractiveness to investors. Disclosure of non-financial information helps reduce the degree of uncertainty, as well as reduce information asymmetry. Based on the results of statistical analysis, it was found that there is a direct relationship between the independent variable (disclosure of non-financial information) and the dependent variable (attracting investment), that is, the more non-financial information is disclosed, the more it leads to attracting investment. The study recommends investors should be made aware of the importance of non-financial information due to the accurate information it provides that reduces uncertainty. The company must prepare comprehensive reports on its non-financial performance. The disclosure of non-financial information should be transparent and trustworthy, and based on agreed international standards. The concerned investment authorities prepare and implement special courses to educate investors about the importance of future investment information, especially non-financial ones. Companies should disclose their non-financial information by disclosing aspects of their business that go beyond traditional financial figures such as their environmental impact, social responsibility and governance, as this information plays an increasingly important role in investment decisions.
Keywords: Full disclosure, non-financial information, Investment Attraction, Investors, Iraq
Effect of Restructuring on Organisational Performance. A Study of Selected of Small and Medium Enterprises (SMEs) in an Emerging Economy
No full textThis study investigated restructuring and organisational performance of SMEs in emerging economies using a study of chosen SMEs in Lagos state, Nigeria. A quantitative research approach based on the survey method was employed for this study using a sample of 400 respondents in selected areas in Lagos state selected through purposive sampling and simple random sampling techniques. The data was collected using a structured questionnaire and analysed through descriptive and inferential statistical tools such as Regression analysis to test of the hypotheses. The findings revealed the independent variable can account for R-square value (89.3%) of the dependent variable, thereby indicating there is a significant effect of strategy restructuring on organisational performance. Also, the outcomes of this study revealed that the independent variable can report for R-square value (95.1%) of the dependent variable thus process restructuring has a significant effect on organisational performance. The outcomes of this study also revealed R-square value (83.7%) of the dependent variable can be described for by the independent variable; hence, there is a significant effect of manpower restructuring on organisational performance. Finally, the study outcomes revealed R-square value (96.2%) of the dependent variable can be described for by the independent variable, thus there is a significant effect of financial restructuring on organisational performance. Therefore, it was concluded that the significant positive effect of restructuring has on organisational results of SMEs in an emerging economy such as Nigeria, with financial restructuring having the most dynamic and significant effect organisational performance. It was recommended among other things that organizations and management should focus on appropriate restructuring through appropriate policies and processes in a manner that enhances employee and organisational performance.
Keywords: Restructuring, Strategy, Organisational Performance, SMEs
Corporate Social Responsibility, Bank Size and Customer Trust amongst Commercial Banks in Kenya
No full textDespite the commercial banks’ significant position in Kenya's ever growing economy there is limited study on the influence of Corporate Social Responsibility (CSR) on consumer trust in the commercial banking industry. This study therefore sought to explore the impact of Corporate Social Responsibility (CSR) on customer trust in the commercial banking sector of Kenya. With focus on commercial banks, this research delved into how community investment, sustainable initiatives, stakeholder engagement, social welfare, and bank size influence customer trust. This study was anchored on Stakeholder Theory. A correlational research design was employed, targeting all the 39 commercial banks in Kenya. The analysis was centered on the banks as units of analysis, while observations were drawn from both customers and bank managers. The study used stratified sampling to select 384 bank customers population exceeding 1 million. Data was gathered through structured questionnaires and Key Informant Interview (KII), ensuring reliability and validity through Cronbach’s Alpha test and content/construct validity testing. Analysis was conducted using descriptive and inferential statistics, including regression analysis and ANOVA. The results were presented on tables, charts and bars. The findings revealed a coefficient of determination (R²) of 0.605 indicating that the CSR activities used in this study explain 60.5% of the variation in customer trust, suggesting a strong relationship between CSR and customer trust. The regression analysis demonstrated significant positive effects, with community investment (β = 0.354, p = 0.000), sustainable initiatives (β = 0.235, p = 0.003), stakeholder engagement (β = 0.275, p = 0.000), and social welfare (β = 0.329, p = 0.000) all positively influencing customer trust. Based on the findings, the study concludes that corporate social responsibility (CSR) activities, including community investment, sustainable initiatives, stakeholder engagement, and social welfare, significantly influence customer trust among commercial banks in Kenya. In view of the findings, the study recommends that commercial banks in Kenya should continue to invest in CSR activities as a strategic approach to enhance customer trust and loyalty. Policymakers should create supportive regulatory frameworks that encourage banks to adopt comprehensive CSR practices.
Keywords: Corporate Social Responsibility, Community investment, Sustainable initiatives, Stakeholder engagement, Social welfare, Bank Size, Customer trust