Stratford Peer Reviewed Journals and Books
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Effect of Budgeting Practices on Financial Performances of County Governments in Kenya
No full textThe study aimed to determine how budgeting practices influence the financial performance of county governments in Kenya. The research was anchored on the public budget theory, which provides a framework for understanding how budgeting practices can affect the financial performance of county governments. The research adopted a pragmatism research philosophy and utilized an ex-post facto research design. The target population consisted of the 47 county governments in Kenya, and the study selected the controller of budget from each county as the respondents. The pilot study involved two counties, which were not included in the final study. A questionnaire was used to collect primary data, and the response rate achieved was 95.56%. The study employed both inferential and descriptive statistics, performing regression and correlation analysis. The findings of the study indicated that budgeting practices have a positive and significant effect on the financial performance of county governments. The regression analysis revealed a significant relationship between budgeting practices and financial performance (R2=0.437, F=8.102, p=0.000). Based on the findings, the study concluded that budgeting practices positively and significantly affect the financial performance of county governments in Kenya. The study recommends that county governments adopt appropriate budgeting practices, including budget planning, budget coordination, budget evaluation, and budget reporting, among others, to improve their financial performance.
Keywords: Budgeting Practices, Financial Performances, County, Governments, Keny
Leverage, Debt Maturity and Corporate Financial Performance: Evidence from Non-Financial Firms Listed at Pakistan Stock Exchange
No full textLeverage, debt maturity, and corporate financial performance are integral aspects of corporate finance for non-financial firms. The choice of leverage, which measures the use of debt in a company's capital structure, can impact profitability and financial risk. Debt maturity decisions, whether opting for short-term or long-term debt, affect liquidity management and interest rate risk. The strategic balance between leverage and debt maturity plays a pivotal role in shaping a company's overall financial health and competitiveness, making these factors essential considerations for firms listed at stock exchanges like the Pakistan Stock Exchange. The study adopted the descriptive research design. The target population was 30 Non-Financial Firms Listed at Pakistan Stock Exchange. The study did sampling of 22 respondents that were chosen from the target population of 30 Non-Financial Firms Listed at Pakistan Stock Exchange. Questionnaires were used to gather the data. In conclusion, the intricate relationships between leverage, debt maturity, and corporate financial performance among non-financial firms listed at the Pakistan Stock Exchange highlight the importance of striking a careful balance between risk and return. Effective management of leverage and debt maturity choices is crucial for optimizing financial performance, ensuring stability, and enhancing competitiveness in the dynamic landscape of the stock exchange. The study recommended that Non-financial firms listed at the Pakistan Stock Exchange should adopt a strategic approach to balance leverage and debt maturity decisions, considering industry-specific dynamics and conducting regular risk assessments. Furthermore, maintaining a proactive dialogue with regulatory bodies and staying compliant with evolving financial regulations is essential to ensure that financial practices align with regulatory expectations and maintain investor confidence in PSX-listed companies.
Keywords: Leverage, Debt Maturity, Financial Performance, Pakista
Capital Structure and Firm’s Financial Performance; A Case of Sanlam Insurance Company (2010-2018)
No full textThis study examined the influence resulted in structure or arrangement of capital towards the financial performance of the firm. The SANLAM Ltd was taken as a case of study of eight years from 2010 to 2018 to assess the importance of the capital structure for a firm to better performance resulted in chosen finance companies in Rwanda. On other hands, the specific objectives are firstly, to assess the benefits of using the capital structure in selected finance company. Secondary, to assess the link connecting the capital structure and the performance of SANLAM Ltd. By using both quantitative and qualitative approaches, this study used aregression model to demonstrate the link between through by Return on Asset and Return on Equity. The researcher used Secondary data to attain objective stipulated in the study. The study employed both the Return on Equity and Return on Asset like dependent as estimator variables in variables under the study. The findings through regression analysis showed that debt ratio and the variable like tangible were accounted to be statistically were significant parameters impact the performance of obtained through return on asset; for loan to the ratio of the deposit, size and debt, are not significant with performance .The results obtained through regression showed that tangible is negative and statistically associated with return about asset and has a positive statistically for the return towards equity and has the probability value of 0.088 and 0.416. The implication is that debt level stimulate the return on asset and reduce the loss due to extent that high use of leverage has to impose high interest rate. Finally, this study recommends that the firm has to develop new strategies and target in order to use more equity. On the side of government of Rwanda as well as policy makers have to minimize any rigidity measures that could prohibit the use ling term financial resources.
Keywords: Capital Structure, Firm’s Financial Performance, Sanlam Insurance Company, Rwand
Coping Strategies Among Persons with COVID 19 Infection, Treated at Kenyatta National Hospital, Kenya
No full textCoronavirus disease 2019 (COVID-19) is caused by severe acute respiratory syndrome coronavirus 2a (SARS-CoV-2a). The disease was declared a pandemic in March 2020 by the World Health Organization. Persons who contracted COVID-19 experienced social stigma. Even after they survived the disease, some were not readily accepted back into the community. Some experienced feelings of desperation amid uncertainty because of limited information regarding diagnosis, treatments, outcomes, and long-term effects. This study endeavored to document the coping mechanisms employed by patients who contracted the disease and were treated at the Kenyatta National Hospital. An exploratory study design was used to bring out the individual experiences and coping strategies with the COVID-19 infection. A structured key informant interview questionnaire was used to collect data. Purposive sampling method was used to get eligible participants for the study. Data collected was analyzed using NVivo® software. There were 794 patients admitted and treated for COVID-19 at KNH between 1 March 2021 and 31 August 2021. Of these, 617 recovered and were discharged. From the study results, a 50% response rate was registered, with more female respondents at 53% (n = 8). The majority (n = 9, 60%) of the respondents were aged 40 to 60 years, while 6 (40%) were younger than 40 years. Twelve (80%) of the participants had university education, 11 (73%) were married, and 14 (93%) worked in full-time employment. At least 3 (20%) of the respondents remained in the hospital for more than 15 days, and 8 (53.3%) of the respondents were on supplemental oxygen therapy for between 3 and 11 days. The coping strategies among them included: Family support system (n = 15, 100%), information given by healthcare providers (n = 8, 53.3%) and knowledge about COVID-19, largely obtained through the internet (n = 7, 46.6%). Coping strategies among persons following a COVID-19 infection were multifaceted and individualized. The family support system, information given by healthcare providers, and knowledge about COVID-19 played a major role in coping well after diagnosis. Social groups formed during these stressful times were a source of encouragement for many of these individuals.
Keywords: Coping Strategies, Persons with COVID 19 Infection, Treated, Kenyatta National Hospital, Keny
Effect of Leadership Styles on Strategic Implementation in Non-Governmental Organizations. A Case of Root Foundation Rwanda
No full textThe main objective of this study was to assess the leadership styles and the strategy implementation of Non-government organizations in Rwanda. This study will follow the following objectives: To evaluate the effect of leadership styles (transformational, transactional and laissez faire styles) on corporate strategy implementation in Root foundation Rwanda, to assess the influence of leadership styles (transformational, transactional and laissez faire styles) on functional strategy implementation in Root foundation Rwanda, and determine the contribution of leadership styles (transformational, transactional and laissez faire styles) on operational strategy implementation in Root foundation Rwanda. Descriptive research design was used within this study, and the study population comprise 142 employees working on the NGO. The sample size of 105 respondents was established through calculations carried out using the Slovin's Formula. Descriptive research design and correlation analysis will be utilized to assess the data and results generalized for the entire population, while multiple regression was used to test hypotheses. To compute and analyze the data in this study, SPPSS version 23 was used. Secondary data was gleaned from available documentation at Root foundation Rwanda and elsewhere. The results showed that there is high correlation between Transformational leadership styles and Strategic implementation Root Foundation Rwanda as shown by a correlation figure of 0.709**, p-value =0.002<0.05 level (2-tailed), and also the multiple regression results revealed that Transformational leadership styles has significance positive effect on Strategic implementation as determined by β1= 0.172, p=0.009<0.05, t= 2.630. The increase of one unit in Transformational leadership styles leads to an increase in Strategic implementation by 0.172 units. The results showed that the correlation is high between Transactional leadership style and Strategic implementation of Root foundation Rwanda as shown by a correlation figure of 0.781**, p-value =0.000<0.05 level (2-tailed) and also the multiple regression results revealed that Transactional leadership style has significance and positive influence on Strategic implementation as indicated by β2= 0.482, p=0.000<0.05, t= 9.318. An increase of one unit in Transactional leadership style led to an increase in Strategic implementation of Root foundation Rwanda by 0.482 units. Findings revealed that there is significant moderate correlation between Laissez-faire leadership style and Strategic implementation of Root foundation Rwanda as shown by a correlation figure of 0.503**, p-value =0.000<0.05 level (2-tailed) and also the multiple regression results revealed that Laissez-faire leadership style has significance and positive contribution on Strategic implementation as indicated by β3= 0.455, p=0.000<0.05, t= 4.672. The implication is that an increase of one unit in Laissez-faire leadership style would lead to an increase in Strategic implementation of Root foundation Rwanda by 0.455 units.
Keywords: Leadership Styles, Strategic Implementation, transformational, transactional and laissez faire style
Strategic Management Practices and Sustainable Competitive Advantage in the Manufacturing Industries: Case of Inyange Industries Ltd, Rwanda
No full textThe objective of the study was to establish the effect of strategic management practices and sustainable competitive advantage and more specifically seeks to examine the effect of strategic planning practices, procurement management practices, corporate governance, and cost management practices on the performance. The study’s population were the 90 senior managers of Inyange. Descriptive research design, correlation analysis and multiple regression were used to assess the data using SPSS version 24. Findings revealed that Strategic Planning Practices has Positive strong correlation (0.839**and P value =0.00) with Sustainable Competitive Advantage. Strategic Procurement Management Practices has Positive moderate correlation with Sustainable Competitive Advantage (0.612 and P value =0.00) with Sustainable Competitive Advantage. This suggests that improved Strategic Procurement Management Practices help to improve Sustainable Competitive Advantage. Results of correlation analysis showed that Corporate Governance Practices has Positive strong correlation (0.773 and P value =0.00) with Sustainable Competitive Advantage of inyange industries. Results of correlation analysis showed that Strategic Cost Management Practices has Positive strong correlation (0.715 and P value =0.00) with Sustainable Competitive Advantage of inyange industries. The study concluded that there is significant and positive effect of Strategic Management Practices on the Sustainable Competitive Advantage of inyange industries. The study recommends that Inyange industries may emphasize in involving junior staff in the future planning of the company, as they are the future managers of the company.
Keywords: Strategic Planning Practice, Strategic Procurement Management Practices, Corporate Governance Practices and Strategic Cost Management Practice
Monitoring and Evaluation Practices and Performance of Non-Government Organizations in Rwanda: A Case Study of Income-Generating Activities Project by Health Relief and Development Organization
No full textThis study aimed at the assessment of monitoring and evaluation of project performance. The specific objectives were to assess the monitoring and evaluation (M&E) practices and the project performance in Non-Government Organizations in Rwanda, by taking the Income Generating Activities project (IGA project) in the Health Relief and Development Organization (HRDO), as the case study. A descriptive research design was used within this study, and the study population is comprised of 165 employees working on the project and beneficiaries. The sample size of 117 respondents was established through calculations carried out using Slovin's Formula. To achieve the above objectives, a combination of questionnaires, and interviews analyzing financial and other reports were used. The researcher used primary and secondary data in this study. And closed-end questionnaire was used Descriptive research design using mean and standard deviation will be used to interpret the collected data, while correlation analysis was used to assess the relationship between the variables, and multiple regression will be used to test the hypotheses of the study. The findings, indicate the coefficients of the regression where planning for monitoring and evaluation (PLME) has 0.287 with a significance of 0.002, staff technical skills in M&E (STSME) 0.414 with a significance of 0.000 and reporting for M&E (RME) 0.321 with a significance of 0.001. The constant .128 is the predicted value for the dependent variables (performance of IGA project) if all independent variables, planning for M&E=0, staff technical skills in M&E =0 and reporting for M&E =0. The results show that there is a positive and significant relationship between planning for M&E and project performance because the calculated Pearson correlation and significance level between planning for M&E and schedule is positive and significant (r=0.717 and sig=0.00<0.01) level of significance. The calculated Pearson correlation and significance level between planning for M&E and cost is positive and significant (r=0.712 and sig=0.00<0.01) the level of significance. The calculated Pearson correlation and significance level between planning for M&E and stakeholder satisfaction is positive and significant (r= 0.683 and sig=0.00<0.01) level of significance. Conclusion and recommendation were basing empowerment of Monitoring and evaluation to project performance due to hypothesis (Ho) in this study was rejected.
Keywords: Monitoring, Evaluation, project, Performance
Operational Outsourcing Practices and Organizational Performance of Telecommunication Companies in Rwanda: A Case of Airtel Rwanda Plc
No full textThis study assessed effect of operational outsourcing practices on organizational performance in telecommunication companies in Rwanda with reference to a case of Airtel Rwanda Plc. The specific objectives are to determine effect of primary activities outsourcing, accounting and finance activities, back-office outsourcing on organizational performance of Airtel Rwanda Plc. The study adopted Resource-Based Theory, Transaction Cost Economic Models. The researcher employed descriptive research design and correlational research design to establish effect size for specific research objectives. The researcher drew a sample of 167 from 287 individuals using Yamane formula. The study used both simple random sampling and purpose sampling to choose respondents. The researcher collected information using questionnaire, interview guide and desk review from organizational reports. The researcher employed a descriptive and statistics for quantitative data analysis while qualitative data was analyzed using content analysis. Findings on outsourcing primary activities indicate strategic management at a mean of 4.333, service development at a mean of 3.666, and operational services at a mean of 4.000 were outsourced as primary activities. For strategic management, there was a positive insignificant relationship between strategic management and cost efficiency (=0.049, p=0.41), strategic management and profitability(r=0.074, p-value=0.233). A significant relationship was between cost leadership and sales (r=0.231**, p value=0.006), rising investment (r=0.159**, p-value=0.043), with net profit (r=0.174**=0.014). Results on outsourcing accounting and finance demonstrated a mean of 3.33, human resources with a mean of 4.400, data resources with a mean of 4.00 were adopted by Airtel Rwanda Plc. There are significant correlations found between finance and accounting and cost efficiency (r=0.215, p-value=0.048), accounting and profitability (r=0.512, p-value=0.036). Human resources were insignificantly associated with cost efficiency. There is a significant correlation found between information resources and cost efficiency (-0.523*, p-value=0.031). Results found that outsourcing security activities (mean of 3.833). Outsourcing manpower activities (mean of 3.333), outsourcing cleaning activities (mean of 2.833) were adopted. Significant correlations were established outsourcing security activities and cost efficiency (r=.167*, p=.078), outsourcing security activities and productivity (r=0.393, p-value=0.000), profitability (r=0.560*, p-value=0.056). Outsourcing manpower activities was negatively associated with cost efficiency) r=.050*, p=.078), and productivity (r=-159*, p=.093). The researcher recommended the need to rely on primary activities, and to revise its policies. The firm should adopt back-office activities outsourcing to increase flexibility and reduce weaknesses, which can be an appropriate outsourcing activities.
Keywords: Accounting and Finance Outsourcing, Back Office Outsourcing, Operational Outsourcing, Organizational Performance
Project Communication Practices and Performance of Construction Project: A Case of Sonatubes-Gahanga-Akagera Bridge Road Project
No full textThis survey of project communication practices and performance of Sonatubes-Gahanga-Akagera Bridge Road Project. The specific objectives are to evaluate the effects of project board in achieving the performance of Sonatubes-Gahanga-Akagera Bridge Road Project, to assess how Daily stand up meeting affect the performance of Sonatubes-Gahanga-Akagera Bridge Road Project, to find out how weekly status report provides the useful information on the performance of Sonatubes-Gahanga-Akagera Bridge Road Project, to ascertain how a document repository play an important role on the performance of Sonatubes-Gahanga-Akagera Bridge Road Project. Both qualitative and quantitative methods were used in this study's descriptive design. A descriptive survey was conducted in an effort to record the present state of affairs to provide a description of them. There were a total of 140 people included in the study, 60 from the Rwanda Transport Development Agency (RTDA) serving as Client and 80 from the China Road and Bridge Corporation (CRBC) serving as Contractor, all of whom were expected to provide information data relevant to the study's aims. According to the streamlined Slovene methodology, the sample size is 103, and all responders had an equal chance of being included in the sample. The researcher mostly communicated with participants through questionnaire, which included the quantitative questions. The investigator was able to get first-hand knowledge from respondents by asking them qualitative inquiries tailored to the study goals; this method was also useful for gathering data directly relevant to the aims. Other types of statistical analysis were necessary once the obtained data had been processed and put in some sort of tables. Both qualitative and quantitative methods of analysis were used in the conduct of this study, with the latter using SPSS 16.0 for descriptive statistical analysis that included the calculation of means, frequencies, percentages, and standard deviations. According to the data, the Sonatubes-Gahanga-Akagera Bridge Road Project has a high and important mean on the project board for attaining performance at 1.7249. The Sonatubes-Gahanga-Akagera Bridge Road Project benefits from a high mean daily stand-up meeting attendance of 1.6893, which should be maintained. The Sonatubes-Gahanga-Akagera Bridge Road Project had an excellent mean score of 1.6925 on its weekly status report, which gives vital details on the project's progress. The impact of the Sonatubes-Gahanga-Akagera Bridge Road Project on average is modest (1.7702), hence there is room for significant improvement. For the same project's near future, the Rwandan government and Kicukiro district should prioritize the plan's execution via frequent monitoring, inspection, and environmental audit.
Keywords: Communication Practices, Project Performance, Sonatubes-Gahanga-Akagera Bridge Road, Rwand
Influence of Agile Project Management Practices on Project Performance in Rwanda: A Case of Priority Skills for Growth Project
No full textThe increasing rate of globalization and technological progress have compounded the volatility and uncertainty of business environments and threatened organizational performance in many ways. In order to increase organizational capacity to effectively respond to changes, agile project management practices have been recommended by management scholars. Thus, this research examined the influence of agile project management practices on project performance in Rwanda using the case of Priority Skills for Growth project. The objectives of this research were to assess the influence of stakeholder collaboration, change management and continuous improvement on performance of Priority Skills for Growth project between 2018 and 2022. The study used quantitative approach with a correlational design. Stratified simple random and purposive sampling methods were used to determine the sample size of 396 respondents out the population of 4,892 people. However, only 223 were able to fully participate in the study, resulting to an average response rate of 56.313%. The close-ended questionnaire with likert-type response items was used for data collection. Subject matter experts and pilot-testing were used to establish validity and reliability respectively. The correlation results showed that that stakeholder collaboration is weakly correlated with project performance (r=.030, N=223, p>.01), change management is strongly and positively associated with project performance (r=.652, N=223, p<.01) and continuous improvement is moderately positively correlated with project performance (r=.321, N=223, p<.01). Furthermore, regression results revealed that stakeholder collaboration diminishes project performance by 9%, while change management and continuous improvement have positive contributions of 70.9% and 49.9%, respectively towards the performance of PSG project. The study concluded that that stakeholder collaboration, change management and continuous learning processes in PSG project are effective in achieving the desired project outcomes. The research recommends that project management should establish regular communication channels and forums to enable stakeholders to provide feedback on project progress and suggest improvements. They should use feedback to inform decision-making processes and make adjustments to the project approach as necessary and ensure that all stakeholders, including employees and team members, are involved in the feedback process to promote inclusivity and collaboration. Furthermore, there is need to train and coach project managers and leaders to actively listen to stakeholder feedback and suggestions and create an enabling environment that promotes open communication and constructive dialogue between management and stakeholders. The study recommends that future research should focus on examining the effect of different agile project management methodologies such as kanban, scrum, lean, extreme programing, adaptive project framework among others on project performance.
Keywords: Agile project management practices, change management, continuous improvement, stakeholder collaboration, project performanc