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Evaluation of State Corporations’ Implementation of Corporate Governance Guidelines in Kenya
Get PDFPurpose: The study evaluates the implementation of corporate governance guidelines by State Corporations in Kenya.
Methodology: A cross-sectional descriptive design was adopted owing to the need to describe characteristics of situations and association with others. The study targeted a sample of 93 corporations, with 68 filling-in and returning the questionnaires utilizing primary data, while a structured questionnaire with closed -ended questions was used to gather the primary data. The variables for analysis included the board of directors; transparency and disclosure; stakeholder rights, obligations and relationship; accountability, risk management and internal controls; ethical leadership and corporate citizenship; sustainability and performance management; and compliance with laws and regulations. Analysis of Variance (ANOVA) was deployed to determine whether implementation of corporate governance guidelines differ across the different categories of State Corporations.
Findings: The study determined that State Corporations were compliant with the laws and regulations and recognize transparency and disclosure as important aspects of corporate leadership because they enhance the confidence levels of investors, stakeholders and the wider society. The results also revealed that the state corporations were facing challenges when it comes to stakeholder rights, obligations and relationships. Thus, while the implementation of corporate governance guidelines has not been fully realized, regulatory agencies, public fund management and revenue collection corporations are the most compliant to corporate governance guidelines. The most evident good practices were compliance with laws and regulations, alongside transparency and disclosure, implying the organizations have internal policies and procedures that detect and inhibit violations of applicable law, regulations, and ethical standards. However, major areas of weakness included limited stakeholder rights, obligations and relationship together with the board of directors and ensuring of accountability, risk management and internal controls.
Unique Contributions to Theory, Practice and Policy: This study reinforces the stakeholder theory by applying the Mwongozo[1] and OECD governance principles, to test its robustness with respect to policy and practice by advancing the argument that managers must serve the interests of their variant stakeholders. Key confirmatory findings included compliance with laws and regulations, transparency, and disclosure as some of the good corporate governance practices in Kenyan State-Owned Enterprises. In terms of practice, accountability, risk management and internal control were highlighted as areas that needed improvement. Therefore, the implication of this study is that full implementation of the corporate governance guidelines has not been realized by most State Corporations in Kenya. Hence, how can the implementation of corporate governance guidelines be fully realized by State Corporations in Kenya? Finally, this study strengthens the policy and regulatory framework to facilitate implementation of corporate governance guidelines, enriching policies and operational procedures, and informing theory on corporate governance.
[1] Code of Governance for State Corporations and a policy document by the Government of Kenya that seeks to incorporate the principles of corporate governance in the management and governance of State Corporations in Kenya
Language Issues in Morocco
Get PDFIt is well-known that Morocco is a multilingual country. The fact that a number of languages, along with their varieties, are used by the population is therefore the rule rather than the exception. So many countries exhibit the same situation and it is not an exaggeration to say that no country is monolingual in the sociolinguistic sense of this term. Indeed, even in the so- called monolingual settings in which speakers make use of only one language, these latter are observed to use different varieties of this language in accordance with various factors present in the linguistic situation like setting, topic, interlocutors, mood, etc. Language issues in many parts of the world affect a wide range of areas such as education, the public life, the media, arts, literature, politics, religion and government institutions, to name only these. In Morocco, the field of education faces a number of challenges relating to the functions of the languages in use in the country. This paper tries to investigate some of the language issues in education in Morocco through eliciting the views of a group of teachers and officials. On the basis of these views, the paper shows that the policy of arabisation has not had the expected results in education, administration and the public life in view of the fact that French and Moroccan Arabic are making substantial progress as languages of communication. The teaching of French suffers from high levels of poor proficiency on the part of the learners. The teaching of Amazighe is impeded by unsupportive official policies which do not yet recognise the rightness of teaching this language to the whole school population in the country. It is suggested that the issue of language in education in Morocco will greatly benefit from a more reasonable language policy which would guarantee equal chances of access to education for the national languages and better management of the teaching of foreign languages
Project Implementation Strategies and Performance of Zero Dropout Projects by Save the Children, Rwanda
Get PDFPurpose: The purpose of this study is to assess the influence of project implementation strategies on performance of non-governmental organization projects in Rwanda, specifically focusing on the Zero Dropout Project in Bugesera District. The study aims to evaluate how various strategies, including community outreach and engagement, partnerships with local leaders, support services, resource allocation, and monitoring and evaluation, influence the performance of the project.
Methodology: Employing a descriptive survey research design, the study will target a population of 321 individuals from whom a sample size of 178 respondents is calculated and was selected purposive sampling techniques, selected through stratified sampling to ensure representative data from various stakeholders involved in the Zero Dropout Project. Data was collected using structured questionnaires and documentary analysis, capturing the perceptions and experiences of key participants. The analysis was conducted using Statistical Package for Social Sciences.
Findings: The regression analysis yielded a coefficient (B) of 0.586 and a p-value of 0.000 for the community outreach and engagement variable. The coefficient for partnership with local leaders was 0.217, with a p-value of 0.000. Support services had a coefficient of 0.458 and a p-value of 0.003. Resource allocation recorded a coefficient of 0.096 and a p-value of 0.022. Monitoring and evaluation produced the highest coefficient (1.678) and a p-value of 0.000. The study concludes that effective project management strategies play a critical role in the success of education-based interventions.
Unique Contribution to Theory, Practice and Policy: Based on the findings, the study recommends enhancing partnerships with local leaders, expanding financial support mechanisms, improving monitoring and evaluation capacity, and scaling the project to other districts
Entrepreneurial Innovation and Performance of Small-Scale Agribusiness Grain Farmers in North Rift, Kenya
Get PDFPurpose: In North Rift Kenya, small-scale farmers are struggling to make ends meet despite contributing the largest percentage of maize production in the country. Therefore, this study the study sought to determine the influence of entrepreneurial innovation on performance of small-scale agribusiness grain farmers in North Rift, Kenya.
Methodology: The study adopted the positivist research philosophy and descriptive survey research design was utilized. Target population included 497,737 small-scale agribusiness grain farmers in North Rift, Kenya. Yamane’s Formula of sample size determination was applied to derive a sample size of 400 respondents. Questionnaire was used for data collection. SPSS version 25 was applied in analyzing the data collected. The quantitative data comprised of the descriptive and inferential statistics. Descriptive statistics were summarized into percentages, mean and the standard deviation which was presented using figures, frequency tables and pie-charts. Inferential statistics were applied to test the hypothesis for the study.
Findings: The findings showed that Innovation and performance of small-scale agribusiness grain farmers has a positive and significant relationship. The relationship between Entrepreneurial Innovation and the performance of small-scale agribusiness grain farmers in North Rift, Kenya was significant (F=539.106, p-value=0.000<0.05), with R2 =0.576.
Unique Contribution to Theory, Practice and Policy: The study recommended individual farmers to embrace and use new techniques and technologies on their farms so as boost production while cutting costs
Influence of Asset Allocation Practices on the Financial Performance of Investment Firms Trading at the NSE
Get PDFPurpose: The purpose of this study is to assess the influence of asset allocation practices on the financial performance of investment firms trading at NSE
Methodology: This study adopted a positivist philosophy and a correlational research design to examine the influence of firm-specific factors on the financial performance of 63 investment firms listed at the Nairobi Securities Exchange (NSE) from 2014 to 2023. A census approach was used, and data was collected from secondary sources, including NSE, CBK, and KNBS. Panel regression models analyzed the relationships between asset allocation, portfolio diversification, corporate governance, and risk management, with diagnostic tests ensuring data reliability. The moderating effect of ownership structures was also evaluated, and findings were presented using statistical analysis tools like SPSS. Tables and Figures were also used to present the data.
Findings: The study found that investment firms at the NSE allocated an average of 22.35 billion to bonds, 3.40 billion to money markets, and 25.86 billion to stocks, with significant variability in bond and stock investments. Regression analysis revealed a positive relationship between asset allocation and Return on Assets (ROA), with a coefficient of 0.0484 and an R-squared value of 0.3978, explaining 39.78% of ROA variance. A similar positive relationship was found with Return on Equity (ROE), with a higher coefficient of 0.3119 and an R-squared value of 0.3614, explaining 36.14% of ROE variance. The composite financial performance measure also showed a positive influence from asset allocation, with a coefficient of 0.1802 and an R-squared value of 0.3912, explaining 39.12% of the variance in financial performance. This supports modern portfolio theory suggesting that diversification improves profitability and aligns with shareholder interests by optimizing returns and managing risk. Overall, well-strategized asset allocation was found to contribute positively to the firms\u27 financial performance.
Unique Contribution to Theory, Practice and Policy: The study findings revealed that effective asset management practices significantly influenced the financial performance of investment firms trading at the NSE. To capitalize on this, firms should refine their asset management strategies by optimizing asset allocation to balance risk and return effectively
Leverage, Liquidity and Firm Value of Non-Financial Firms Listed in the Nairobi Securities Exchange, Kenya
Get PDFPurpose: Firm value maximization and profit maximization are listed as the key objectives of every firm. Firm value maximization is highly concerned on constant viability of revenue but not only business gains. Company specific features play extremely important function in overall performance of a firm and firms value maximization. The average Tobin-Q values of non- financial business enterprises registered at NSE in the years between 2016 - 2022 reflected a declining trend where else the world Tobin-Q values of non- financial companies over the same period showed increasing trend. The previous period between 2008-2015 reflected a rising trend of company value of non- financial companies’ registered in NSE. This research therefore examined the influence of leverage, liquidity and company value of non-financial business enterprises registered in NSE, Kenya in an effort to give solution for this problem for the period spanning from 2017-2022. The study was anchored on agency cost of free cash flow theory, shareholder value theory and Modigliani and Miller Theory on Capital Structure.
Methodology: The target population was all the 39 non –financial companies registered in the NSE, Kenya. All the 39 non-financial business enterprises registered at the NSE were used in the investigation. The research used panel data coming out of secondary sources found in the yearly records and financial accounts of registered non-financial firms. The figures were gathered out of NSE listed non-financial firms annual reports for the interval of 2016-2022. Panel regressions analysis and Pearson’s product moment correlation analysis were used for inferential analysis while means and standard deviations were used for purposes of descriptive analysis.
Findings: Panel regression results indicated that both leverage (p=0.003, <0.05) and liquidity (p=0.002, <0.05) had a statistically significant positive effect on firm value. The study concludes that both leverage and liquidity have very strong positive relationship with firm value. The research established that leverage amplify both the potential returns and risks for a company. High liquidity levels led to increased trading activity and higher demand for a company’s shares.
Unique Contribution to Theory, Practice and Policy: The research advocated that the companies ought to expand their debt levels so as to potentially raise their overall value and improve their financial performance. The firms should increase investor awareness and participation in the market so as to increase liquidity levels and hence firm value
Gendered Access to Livelihood Assets among Refugees in Kakuma Refugee Camp, Turkana County, Kenya
Get PDFPurpose: The management of refugees in Kenya is guided by a comprehensive policy framework, with efforts from global, national, regional, and humanitarian actors aimed at fostering self-reliance and economic inclusion for refugees. Despite this, female refugees continue to face challenges related to limited access to resources and heightened vulnerability. This paper analyses the gendered access to livelihood assets among refugees in Kakuma refugee camp, Turkana County. The study utilises cross-sectional data from the United Nations High Commissioner for Refugees database collected in 2019, which included 2,217 randomly sampled households.
Methodology: The study employs the Human Capital Theory, Sustainable Livelihood Approach, and a multidimensional vulnerability index to examine vulnerability from a gendered perspective and how gender dynamics influence refugees’ access to assets. Following Heteroscedasticity, Model Specification, and Goodness of Fit tests, the study implemented a Fractional Regression and Multivariate Logistic Model to empirically analyse the data.
Findings: The findings indicate that gender significantly influences vulnerability in many refugee households, with women being more susceptible. Furthermore, women refugees are 0.104 per cent less likely to engage in farming and 4.15 per cent less likely to possess a bank account. In addition, women-headed households are more food insecure with a higher probability of limiting meal portions, relying on less preferred food and borrowing money to buy food.
Unique Contribution to Theory, Practice and Policy: The study findings reveal that male-headed households also experience vulnerability and lack access to essential resources. This study recommends policies that target both men and women, recognising that male refugees are equally vulnerable
Impact of China’s Foreign Direct Investment (FDI) on EAC’s Economic Growth (2003-2022): An Econometric Analysis
Get PDFPurpose: This study examines the impact of China\u27s Foreign Direct Investment (FDI) on economic growth within the East African Community (EAC) from 2003 to 2022.
Methodology: Employing econometric techniques, including the Error Correction Model (ECM) and Ordinary Least Squares (OLS) regression, the research explores the dynamic relationships between Gross Domestic Product (GDP) and key determinants such as Gross Domestic Savings (GDS), Gross Capital Formation (GCF), Natural Resources (NR), and Trade Openness (TO).
Findings: The results demonstrate that FDI, GDS, GCF, and TO significantly contribute to GDP growth, while NR exhibits a negative relationship with GDP. This negative effect may stem from the resource curse, where an overreliance on natural resources leads to economic volatility, weakens institutional frameworks, and diverts focus from other sectors. Additionally, fluctuations in global commodity prices can exacerbate economic instability.
Unique Contribution to Theory, Practice and Policy: The study underscores the critical role of effective policy formulation and institutional capacity building to optimize the benefits of Chinese FDI, while addressing potential risks related to over-reliance and dependency
Multiband Microwave Filter Using Multi-Wavelength Resonator
Get PDFPurpose: The primary objective of this work is to present the development of a dual-port RF bandpass filter with the unique capability of offering a programmable center frequency along with selectable passbands or stopbands. The design emphasizes adaptability, compactness, and efficiency, aiming to provide a versatile solution for multiband RF applications. By ensuring reconfigurability without significantly enlarging the circuit footprint, the filter is tailored to operate effectively under diverse signal conditions.
Methodology: The proposed design is formed of six multi-resonator units as a separate bandpass filter. These half-units are connected by 180° lines for signal routing. The resonator sees a G-type topology to guarantee the precise capture of the desired frequency response. A variable impedance transformer is used to couple the resonators in parallel, which is also the key element in controlling the signal attenuation and combination of passbands. By tuning the structural parameters applied to the gradient resonant system, the resonant frequency of each unit could be dynamically changed. Furthermore, the architecture includes several communication links to enable separate control of bandwidths. The overall behavior of the filter was demonstrated by both his analytical analysis and experimental results.
Findings: The results show that the center frequency of the filter can be dynamically tuned by tuning the resonant properties of the individual elements. The variable impedance transformer facilitates programmable and flexible control of the number and position of the passbands, and transmission zeros can be used to contribute signal selectivity enhancement at edges of the upper and lower passbands. The design features a multiband mechanism with slight expansion of the circuit size. In addition, good agreement is reached between simulation and measurement results, which demonstrates the good stability and dependability of the proposed design.
Unique Contribution to Theory, Practice and Policy: In light of these results, the presented filter architecture is strongly recommended for multiband RF systems requiring compactness and adaptability. Potential future work could involve refining the gradient resonant system to achieve greater precision in bandwidth control and further enhancement of filtering selectivity. Moreover, the design methodology introduced in this study may be extended to advanced RF communication platforms where reconfigurability and efficient use of hardware resources are critical
Influence of Digital Ecosystems on Value Creation and Competitive Positioning in the E-Commerce Industry
Get PDFPurpose: This study sought to investigate the influence of digital ecosystems on value creation and competitive positioning in the e-commerce industry.
Methodology: The study adopted a desktop research methodology. Desk research refers to secondary data or that which can be collected without fieldwork. Desk research is basically involved in collecting data from existing resources hence it is often considered a low cost technique as compared to field research, as the main cost is involved in executive’s time, telephone charges and directories. Thus, the study relied on already published studies, reports and statistics. This secondary data was easily accessed through the online journals and library.
Findings: The findings revealed that there exists a contextual and methodological gap relating to influence of digital ecosystems. Preliminary empirical review revealed that digital ecosystems significantly shaped value creation and competitive positioning in the e-commerce industry by enabling integration, innovation, and collaboration across platforms. Firms embedded in robust ecosystems adapted faster, leveraged technology more effectively, and gained sustainable competitive advantages across diverse global regions.
Unique Contribution to Theory, Practice and Policy: The study recommended that businesses enhance digital ecosystem engagement through partnerships, modular strategies, and talent development, while policymakers were urged to create inclusive and supportive digital infrastructure and governance frameworks to foster competitiveness and innovation in e-commerce