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Board Composition and Financial Performance of Agricultural Cooperative Societies in Kericho County, Kenya
Full text linkcomposition and firm size on the financial performance of agricultural cooperative societies in Kericho County, Kenya
Methodology: The study targeted 84 agricultural cooperative societies in Kericho County. Data was obtained from 49 agricultural cooperative societies’ annual reports using a data extraction form covering the period between 2017 and 2022.
Findings: Panel regression analysis was used and the findings indicated that board composition had a negative and significant influence on the return on investment of the agricultural cooperative societies
Unique Contribution to Theory, Practice and Policy: The study concluded that board composition has a negative and significant influence on the return on investment. The study also revealed that firm size had a significant moderating effect on the relationship between board composition and return on investment. The study recommended that the management of cooperative societies develop policies focusing on promoting diversity and expertise within board composition
Equity Share Capital and Market Capitalization of Non-Financial Firms Listed at the Nairobi Securities Exchange, Kenya
Full text linkPurpose: The diminishing growth of many of the non-financial enterprises listed at the Nairobi Securities Exchange (NSE) discourage investors from investing in these firms. Concerning the question of whether there is an ideal financial structure that maximizes the firm\u27s value, academics, business managers, investors, and other stakeholders face a significant challenge in ascertaining the ideal financial structure of these firms. The study general objective was to study the effect of equity share capital on market capitalization of non-financial firms listed at the Nairobi Securities Exchange.
Methodology: The target population of the study comprised of 45 non-financial firms listed at the NSE for a period of seven years. A descriptive research design was adopted with a census method focusing on 45 non-financial firms listed at the NSE, Kenya. Data was encoded and processed using statistics software (STATA version 18). Inferential statistics was adopted using the panel regression model. A data collection sheet was used to collect data of the listed non-financial firms and the outcome presented in tables using statistics such as means, standard deviation, frequencies, and percentages. The findings indicated the presence of a weak and positive correlation between equity financing and market capitalization. Panel regression model was applied for data analysis.
Findings: The findings of the panel regression model indicated a positive and significant effect between equity financing and market capitalization of non-financial firms listed at the NSE, Kenya.
Unique Contribution to Theory, Practice and Policy: The study was guided by the Market Timing Theory. The study recommended to managers to have equity shares leveraged by stakeholders in order to increase market capitalization and build resilience in the face of unstable market conditions
Modeling and Pricing Exotic Options in Frontier Markets: A Computational Approach with Applications to Kenya’s Financial Sector
Full text linkPurpose: This research examines how exotic options—such as Asian, lookback, and barrier options—are priced in Kenya’s emerging financial market. It looks into whether sophisticated computational models can work effectively in a market challenged by limited data, low liquidity, and underdeveloped infrastructure. The study addresses a gap in existing literature, which mostly focuses on well-established markets, by assessing the feasibility of introducing complex financial instruments in frontier economies to encourage innovation, better risk management, and economic growth.
Methodology: The study uses a quantitative approach, combining stochastic models with real market data from the Nairobi Securities Exchange (NSE) collected between 2019 and 2023. It also incorporates recent guidelines from the Capital Markets Authority (CMA). Pricing methods such as Monte Carlo simulations, Finite Difference Methods (FDM), and binomial/trinomial tree models are tailored to fit the local market context. To overcome the challenges of limited data, techniques like kernel smoothing for volatility estimation and bootstrapping to create synthetic data sets are applied. A mix of these methods helps improve pricing accuracy, especially under conditions of incomplete information and clustered volatility.
Findings: The Monte Carlo method proves highly effective for pricing options that depend on the path of the underlying asset, while FDM, especially the Crank-Nicolson approach, handles early exercise options and price jumps well. Binomial and trinomial trees remain reliable in data-scarce environments. Despite infrastructural and regulatory hurdles, the study shows that calibrating pricing models is possible using resampling and non-parametric methods. The results highlight the potential benefits of exotic derivatives in managing risks within key sectors such as agriculture, energy, and trade.
Unique Contribution to Theory, Practice and Theory: This work enhances the theoretical framework by adjusting traditional option pricing models to fit the challenges of frontier markets. It provides a practical toolkit for financial firms and offers regulatory recommendations to nurture a sustainable derivatives market. By aligning advanced modeling techniques with local market realities, the study paves the way for broader adoption of derivative products in underdeveloped financial systems
Quality and Productivity – Quality & Lean Six Sigma KPIs: Creating a Quality Strategy: Ritz-Carlton Hotel
Full text linkPurpose: This study investigates the implementation of Lean Six Sigma methods in Ritz-Carlton Hotel sites in the UAE, with the goal of improving customer satisfaction and operational efficiencies. The DMAIC (Define, Measure, Analyze, enhance, Control) approach is used in this study to completely examine and enhance service quality and efficiency using data-driven insights.
Methodology: The main method used statistical analysis, including techniques like Pareto analysis, fishbone diagrams, and Failure Mode and Effects Analysis (FMEA), to identify and solve the root causes of inefficiency. KPIs such as customer satisfaction, occupancy rates, and average daily rates were utilized to assess performance enhancements.
Findings: Results show that implementing Lean Six Sigma led to improved operational efficiency, decreased error rates, and better guest experiences. Nonetheless, issues like employee resistance and distribution of resources were observed, highlighting the significance of efficient training and resource management. The research emphasizes the importance of aligning KPIs with strategic objectives and incorporating proactive risk management approaches.
Unique Contribution to Theory, Practice and Policy: The implications of these findings extend to improving quality management in hospitality, recommending continuous monitoring, and emphasizing staff engagement for sustained improvements. This research offers actionable insights into the application of quality management systems in the competitive hospitality industry
Strategic Planning and Sustainable Organizational Performance
Full text linkPurpose: The research links strategic planning to sustainable organizational performance.
Methodology: The methodology constituted a critical literature review linking strategic planning and leadership to organizational performance, while considering environmental dynamism. It’s anchored on the Industrial Organizational Economic Theory, focusing on both public and private sectors; plus transformational leadership theory, and environmental dependence theory.
Findings: While past literature divulges lack of consensus on how deliberate strategic planning influences organizational performance, the moderating implications of environmental dynamism on organizational performance is not conceptually evident. The literature contends that strategic planning positively influences organizational performance; transformational leadership contributes to organizational performance; while environmental dynamism influences the impression of leadership on organizational performance. However, it depicts a partial focus on the link of strategic planning to performance, leadership and performance, and environmental dynamism and performance or a combination of the two and performance.
Unique Contributions to Theory, Practice and Policy: From a conceptual perspective therefore, it would be interesting to comprehensively study the implications of strategic planning, and leadership on organizational performance where environmental dynamism variables are moderating factors. It is anticipated that the findings from this research will endeavor to advance scholarship, particularly on understanding the influence of strategic planning practices, transformational leadership, and environmental dynamism on organizational performance, in both the private and public sectors. Hence; how does the underlying effect of environmental dynamism on leadership, for example, manifest in strategic planning practices
An Analysis of Strategic Importance of Executive Education: Its connection to Organizational Success
Full text linkPurpose: This article analyses the strategic importance of executive education towards the success of organizations.
Methodology: This study used a qualitative research design and looked at correlational aspects of different variables. This provided an in-depth understanding of the variables, experiences, drivers, and behaviours. The data collected was analyzed via an explanatory discussion. A secondary type of data collection was applied from sources such as books, published journal articles, online publications etc.
Findings: The study found that there was a positive connection between the Executive Education and employee performance, which trickles down to organizational performance. It was concluded that there was a significant Strategic Importance of Executive Education to Organizational Success.
Unique Contribution to Theory, Practice and Policy: The study was based on two major theories, i.e. Human Capital Theory (HCT), Becker, G. S. (1993), and Equity Theory (ET), Adams, J. S., & Freedman, S. (1976). Based on these two theories, the study explored the interaction between executive education, training and Development, employee empowerment, strategic leadership and continuous organizational learning culture and the connection therein with organizational success
Influence of Product Development Strategy on Microinsurance Uptake among Micro and Small Enterprises in Nairobi City County, Kenya
Full text linkPurpose: The study aimed to investigate influence of product development strategies on microinsurance uptake among micro and small enterprises in Nairobi County, Kenya.
Methodology: The research adopted a positivist philosophy and descriptive research design. A representative sample of 387 MSEs was selected through multistage random sampling from a population of 12,429 registered MSEs in Nairobi County (MSEA, 2024). Data collection involved structured questionnaires, with a pilot test conducted to ensure validity and reliability. Quantitative data were analyzed using SPSS version 27. Descriptive statistics such as means and standard deviations were calculated, while inferential analysis employed multiple regression and correlation techniques to test hypotheses at a 95% confidence level (p < 0.05).
Findings: The analysis revealed strong positive correlations between product development strategies and microinsurance uptake (r = 0.572), significant at p < 0.01. Regression models showed that the strategy accounted for 32.7% of the variance in microinsurance uptake. The ANOVA results indicate an F-statistic of 146.009 with a p-value of 0.000 further suggesting that the relationship between product development strategy and microinsurance uptake was statistically significant at the 95% confidence level. The unstandardized coefficient (B) for product development strategy was 0.317, indicating that a one-unit increase in product development strategy led to 0.317 units increase in microinsurance uptake.
Unique Contribution to Theory, Practice and Policy: Based on the study findings, microinsurance providers should intensify investment in market research to understand the specific risks, operational challenges, and protection needs of different MSE sectors. Product design should prioritize flexibility, affordability, and relevance to the business environment
Optimizing Farmer Managed Natural Regeneration Efforts Using Geospatial Technology
Full text linkFarmer Managed Natural Regeneration (FMNR), holds immense potential for addressing land degradation and enhancing ecosystem services in the arid and semi-arid lands. However, decisions regarding where to prioritize FMNR efforts and effectively monitor adoption and impact require reliable data and objective analysis. Spatial technologies (ST) such as Remote Sensing (RS), Geographic Information Systems (GIS), and GPS play a crucial role in achieving these goals. This paper explores the application of ST in optimizing FMNR implementation in Kenya. It discusses how ST can be used to identify suitable areas for FMNR based on factors like land degradation severity, vegetation cover, and socio-economic characteristics. Additionally, the paper explores how ST can be utilized to monitor FMNR adoption by tracking changes in land cover over time and assess the impacts of FMNR on ecosystem services like carbon sequestration and biodiversity conservation. Finally, the paper highlights the challenges and opportunities associated with using ST for FMNR and proposes recommendations for its effective integration into FMNR programs
Determinants and Intensity of Adoption of Hot Pepper, French Beans and Okra in the Banana-Coffee Farming System in Uganda
Full text linkPurpose: This study explores the shift among Ugandan smallholder farmers, traditionally reliant on banana-coffee systems, toward cultivating high-value crops (HVCs) like Hot Pepper, French Beans, and Okra, which offer strong economic potential.
Methodology: A cross-sectional survey of 522 households (273 adopters, 249 non-adopters) was conducted using income quartile stratification and binary and ordered logistic regression to assess adoption patterns and socio-economic influences.
Findings: Findings show that HVC adopters have significantly higher income and expenditure, and are concentrated in upper income quartiles. Adoption is positively linked to factors such as; education level of the most educated child, access to agricultural training and credit, frequent engagement with local leaders, strong village networks, and overall household income. Adoption intensity increases with involvement in agricultural projects, hired labor, off-farm income, and land access, but declines with older household heads and road remoteness.
Unique Contribution to Theory, Practice and Policy: The study recommends promoting hired labor due to the labor-intensive nature of HVCs and improving access to credit to support inclusive agricultural transformation and enhance smallholder investment in high-value crops
Enhancing Social Sustainability in Automotive Supply Chains: A Framework for Effective Grievance Mechanisms
Full text linkPurpose: The automotive industry operates within complex, globalized supply chains characterized by multi-tiered structures and extensive outsourcing, often lacking visibility and accountability for potential human rights violations. Increasingly, regulatory frameworks place explicit obligations on original equipment manufacturers (OEMs), including the requirement to install an effective grievance mechanism along the supply chain. This paper explores how grievance mechanisms can be integrated into automotive supply chain practices to strengthen social sustainability.
Methodology: A qualitative approach was employed, and expert interviews were conducted with a diverse group of stakeholders from the automotive industry, non-governmental organizations (NGOs), regulatory bodies, suppliers, and unions to provide a well-rounded view of grievance mechanisms in supply chains. The data was analyzed by employing Kuckartz’s qualitative content analysis with MAXQDA software to systematically code and identify key themes critical for an effective grievance framework.
Findings: This paper proposes a practical framework for OEMs to address human rights and ethical issues across global networks. It offers a common structure adaptable to industry players, emphasizing accessibility, confidentiality, and trust. It also recommends combining OEM-specific mechanisms with an industry-wide collaboration platform to standardize processes, share best practices, and enable collective action. The study findings support that grievance mechanisms play a crucial role in social sustainability by providing workers with secure channels to report violations. Integrating grievance data into OEMs’ risk assessments enhances proactive risk mitigation.
Unique Contribution to Theory, Practice and Policy: This research uniquely addresses the gap in academic literature and practice related to social sustainability in supply chains, particularly in grievance mechanisms. In practice, the automotive industry faces fragmented and inconsistent implementation of grievance mechanisms, with the absence of a standardized framework. This paper fills these gaps by developing a comprehensive, industry-specific grievance mechanism framework that ensures accessibility, consistency, and effectiveness across all supply chain tiers