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Determinants Of Implementation Of Public Procurement Act On Commercial State Corporations In Kenya
No full textPublic procurement makes up a large share of total expenditure in the public sector. However, various factors, including the adoption of e-procurement through ICT infrastructure and procurement personnel proficiency, influence the application of the public procurement Act in commercial state organizations. In light of this, the purpose of this study was to determine the factors that influence the public procurement act's execution and the performance of Kenya's commercial state enterprises. The study specifically focused on procurement staff proficiency, national procurement regulatory framework, information and communication technology infrastructure and top management support and their influence on implementation of procurement act in the commercial state corporations in Kenya. The study was anchored on Knowledge-Based Theory, Institutional Theory, System Theory and Agency theory. A descriptive research design was used to achieve the study objectives. The target population of the study comprised of 33 commercial state corporations in Kenya and the respondents included the finance managers and the procurement managers which was equivalent to 66. A census was conducted on all the 66 respondents. Data was gathered with aid of the questionnaire. The design of questionnaires was made to comprise of close ended and open-ended questions. The data was entered into SPSS software for descriptive and inferential statistics analysis. Descriptive findings entailed frequencies, percentages, means and standard deviations while inferential results were correlation and regression results. The study findings were presented in form of tables, charts and figure. The study found out that the procurement staff had adequate have high level of technical expertise and understanding of the national procurement legislation that governs the body which promoted efficiency during the procurement processes, the organization identified and upheld the relevant national-level procurement regulation so as to ensure the success of the whole procurement of process and the public procurement legislations promoted regulation of procurement processes for guidance and accountability. Staffs were able to obtain public procurement legislation content via ICT, and ICT infrastructure was up to date for various procurement procedures; top management encouraged employees to be honest about the procurement process, and openness was promoted. The study concludes that staff proficiency significantly affected organizational performance, this was associated with the fact that the procurement staff had adequate have high level of technical expertise, National procurement regulatory framework had a positive effect on implementation of public procurement Act where it promoted integrity among the employees in regard to the procurement process and also promoted transparency. ICT infrastructure significantly influenced organizational performance this was seen by the ability of the staffs to access the public procurement legislation content by use of ICT and ICT infrastructure up to speed for various procurement processes. There was promotion of integrity among the employees in regard to the procurement process also promoted transparency and accountability According to the study, all state organizations, whether commercial and non-commercial, should use the best procurement methods to increase their performance, competitiveness, and effectiveness in providing public services. Policymakers should place a greater emphasis on enforcement since it provides an incentive for commercial firms to improve their performance by increasing implementation and compliance
Factors Influencing The Adoption Of Green Procurement In Manufacturing Industries In Nairobi, Kenya
No full textIn the wake of international outcry against runaway global warming, companies are increasingly being called upon to adopt green procurement practices. This emanates from the fact that adoption of these practices is seen as a panacea to adverse effects of environmental degradation. The study set out to investigate the factors influencing the adoption of green procurement in manufacturing industries in Nairobi, Kenya. The objectives of the study were to examine the influence of top management support on the adoption of green procurement in manufacturing industries in Nairobi, Kenya, assess the influence of ICT infrastructure on the adoption of green procurement in manufacturing industries in Nairobi, Kenya, determine the influence of supplier management practices on the adoption of green procurement in manufacturing industries in Nairobi, Kenya and, explore the influence of staff training on the adoption of green procurement in manufacturing industries in Nairobi, Kenya. The study was based on four theoretical foundations namely: organization theory, supply chain management theory, technology adoption model and learning organizational theory. The study used the descriptive survey research design to gather data on the utilization of green procurement in the 2300 manufacturing industries in Nairobi. The population included in this study was 2198 procurement officers drawn from the manufacturing industries that had such officers. Simple random sampling was used to obtain a sample of 96 persons. Data was collected using questionnaires. Statistical Packages for Social Sciences (SPSS) software was used to analyze quantitative data received from closed ended questions. Various statistical tests were undertaken on the data. These include means, percentages, frequencies, correlation analysis, and multivariate regression analysis. Data from open-ended questions was subjected to content analysis. The findings show that there were significant relationships between the Adoption of Green Procurement and independent variables as follows: top managements, r=0.796 p<0.05; ICT infrastructure level, r=0.854, p<0.05; supply chain management practices, r=0.826, p<0.05; and staff training, r=0.854, p<0.05). Analysis of Variance (ANOVA) shows that top managements, ICT infrastructure level, supply chain management practices and staff training could statistically and significantly predict the adoption of Green Procurement (F= 120.582, p<0.05). In this light thus, the study concludes that top managements, ICT infrastructure level, supply chain management practices, and staff training influenced the adoption of Green Procurement. Based on the findings of the study, the study recommends that top management must be proactive in addressing internal barriers to green procurement. It is also important for manufacturing firms to roll out and sustain modern ICT technologies. Strategies must be put in place by firms to ensure those suppliers relationships with the firm are positively kept. In addition, Supply chain management practices can pose a threat to the effectiveness of green procurement. As a result, it necessitates close collaboration between company departments and businesses, resulting in a harmonious integration of GP practices into the supply chain. Manufacturing firms in Nairobi should put in place strategies for continuous training of procurement staff and mentoring of new employees
Factors Of Mobile Banking Affecting Performance Of Tier One Banks In Kenya
Get PDFThe study sought to determine the factors of mobile banking that affect the performance of tier one
commercial banks in Kenya. The study’s specific objectives were; to establish how mobile banking
transaction volume affect financial performance of tier one banking institutions in Kenya; to
establish how mobile banking transaction costs affect financial performance of tier one banking
institutions in Kenya; to establish how mobile banking products financial performance of tier one
banking institutions in Kenya; and to establish how mobile banking accessibility affect financial
performance of tier one banking institutions in Kenya. The study was underpinned by various
theories which include Schumpeterian theory of innovation, the market power theory, task
technology fit theory, and technology acceptance theory respectively. The research used a
descriptive research design, in which quantitative data was collected from 8 tier one commercial
banks in Kenya, covering the years 2015 to 2019. Data was collected from bank repositories as well
as CBK’s publications. Data was analyzed using descriptive statistics and results are displayed
using tables and figures. In relation to objective one, it has been found that mobile banking
increases transaction volume and this significantly and positively enhances financial performance.
The findings related to objective two have confirmed that mobile banking reduces transaction costs
for banks to maximize on their profits. The outcomes related to objective three indicate that mobile
banking has introduced variety of services and products and this contributes to the overall
performance of the banks. As concerns objective four, mobile banking has been found to enhance
accessibility and this increases transaction volumes that are impeccable in promoting financial
performance. The results of the study revealed that mobile banking is an important and necessary
strategy in the modern banking environment for purposes of improved financial performance and
increased of competition. This is backed up from the obtained statistics in which case there was a
positive correlation between mobile banking and financial performance. Further, the findings
support the fact that ensuring easy accessibility of the banks’ services through mobile banking
promotes convenience and give customers opportunities to transact frequently than when it is
through the counter. Moreover, the research outcomes support the fact that mobile banking
accessibility for 24 hours, irrespective of geographic locations, is a very important strategy that
banks are depending on to ensure financial performance is promoted. The results also indicate that,
increasing the number of products or services that can be accessed through mobile banking means
multiple sources of revenues for the banks. This was supported by obtained statistics in which a
positive correlation was noted. The study has provided a number of recommendations for policy
action and future scholarly work on this area
Effect Of Financial Risk On Financial Performance Of Five Star Hotels In Kenya
Get PDFKenya’s hotel industry faces many challenges such as ttal revenue per available room in the
country has been declining over the last five years. In spite of this, there is scarcity of empirical
information on the same. This study therefore sought to investigate the effect of financial risk
on the financial performance of five star hotels in Kenya. Specifically, the study examined the
effect of liquidity risk on financial performance of the five star hotels in Kenya, determined the
effect of solvency risk on financial performance of the five star hotels in Kenya, established
the effect of interest rate risk on financial performance of the five star hotels in Kenya,
determined the effect of exchange rate risk on financial performance of the five star hotels in
Kenya. The study was guided by four theories: risk management theory, wreckers theory,
liquidity preference theory and interest rate theory. The target population was all the 25 five
star hotels in Kenya. The study employed a descriptive research design. Secondary data was
extracted from financial statements (annual reports). Data processing and analysis was done
using statistical software of STATA. Both descriptive and panel data regression were carried
out. The study found that an increase in liquidity risk would cause financial performance of
five star hotels in Kenya to decrease by (β=-0.3308, p<0.05), solvency risk has negative
significant influence (β=-2.4744, p<0.05) on financial performance of five star hotels in Kenya.
The study also found that a unit increase in interest rate risk would cause a decrease (β=-1.6431,
p<0.05) in financial performance of five star hotels in Kenya and that a unit increase in foreign
exchange rate risk will result to a decrease (β=-0.0186, p<0.05) in financial performance of
five star hotels in Kenya. The study therefore recommends five star hotels in Kenya to ensure
they maintain optimal liquidity to ensure organizational efficiency and effectiveness and
upholding of good relations with stakeholders. There is also need for the five star hotels to
embrace effective solvency risk systems that have a suitable solvency risk environment
operating under a sound credit administration that involves monitoring and proper solvency
risk controls; this would help in minimizing possibilities of firm failure. Also, the companies
should engineer effective strategies to address solvency risk issues carefully this is because
poorly designed solvency risk policies would compromise asset quality and expose the
company to financial distress
Factors Influencing Financial Control Practices In Public Secondary School In Kibra Sub County In Nairobi County, Kenya
Get PDFFinancial controls is important for effectively and efficiently in order to attain organizational
objectives. Fruitful financial control includes the process, policies, operating metrics, and
segregation of duties, audit, duties and responsibilities and approval of all the transaction by the
concern authorities. Public Schools receive funds from two sources that is the government and
parents; this calls for good management of the financial resource by placing good financial
control in place to avoid mismanagement of funds hence attaining its intended objective.
This study was conducted to evaluate factors that influence financial control practices in public
secondary schools in Kibra Sub County in Nairobi County in Kenya. Specifically, examine how
governance structure, budget and financial literacy influences financial controls.
The researcher used descriptive survey design to accomplish the research objective. To collect
the sample size simple random sampling was used. Primary data was collected to achieve the
objective of the study. Nairobi County has ninety-eight public schools sample size of 10% of the
target population was used. Respondents of the study was constituted of School Principals,
Bursars/Accounts clerks, store keepers and internal auditors. The study therefore will use a total
of 321 respondents. Statistical information was generated via administration of questionnaires.
The test and re test method was used to test for reliability. The relationship between the study
variables were evaluated using regression analysis. The data collected was analyzed using stata.
The output of this study tabulated, presented in charts and interpreted centered on the objective
of the study which was also the ground of conclusions and recommendations that was presented
from this study.
The findings indicated that governance structure enhances the managements ability to implement
management and the boards ability to exercise oversight. Governance structure in public schools
ensures that financial controls are put in place to ensure prudent funds management. From the
findings it can be concluded that budgets for all departments prepared for all significant activities
were somehow in sufficient detail to allow meaningful monitoring of subsequent performance.
The duty bearers were in compliance with this important indicator of governance. The employees
are conversant at least to some small extent with the financial policies and procedures in his/her
school. Strategic plan and budgets are important tools in financial controls to what extend do you
refer to them. From the findings, It is recommended that the school management to enhance the
governance Structure since it was found to influence the financial control. This can be done by
laying down proper structures to guide the performance of the school governance through the
Ministry of Education. This study only covered three factors; governance, budget and financial
literacy and therefore it is recommended that another study be conducted other factors
influencing financial control practices in public secondary schools in a more detailed context
Alcohol and Substance Use among Patients in Palliative Care
No full textThere has been a growing concern about alcohol and substance use and abuse as well as abuse of prescription drugs among patients in hospice and palliative care. Literature reveals that it is likely that similar risk factors for substance abuse in persons in the general public may also exist among the terminally ill. Substance abuse among such patients could interfere with effective pain and symptom management regimes that are employed in palliative care. Numerous studies have been conducted on prevalence of substance abuse in the general public as well as special populations such as persons with disability. However, very little has been documented regarding drug use and abuse in persons with advanced chronic conditions such as patients in palliative care settings. Prevalence of alcoholism and other substances among patients in palliative care has scarcely been reported in Kenya. This study adopted a descriptive survey targeting patients with advanced cancer in an outpatient palliative care setting. Questionnaires and interviews were used to establish the prevalence of drug use among patients, the main drugs of abuse as well as risk factors for drug abuse in these patients. Purposive sampling was used to obtain a total of 50 patients within an outpatient palliative care facility. The results indicated that alcohol and tobacco were the most abused substances among patients. Those who abused tobacco either smoked or used chewing as a mode of administration. A few respondents used other substances such as artane while others chewed betel. The study recommended use of rigorous assessment to identify patients with previous or current history of substance abuse in order to employ suitable interventions. Addressing substance abuse in these settings could allow the accomplishment of appropriate palliative care services as well as maintenance of self-dignity and enhancement of quality of life for the patients and their significant others
A System Dynamics Model For Credit Risk Modelling And Simulation: The Case Of Licensed Credit Reference Bureaus In Kenya
No full textCredit risk modelling and analysis are needed in finance and have over many years become
active parts of research, motivating statistical modelling. Because of the high numbers of
borrowers who fail to fulfil their loan repayments, credit reference bureaus (CRBs) have
existed for quite some time especially in countries that have long histories of hosting
multinational companies. However, the current standards for regulating how credit risk is
quantified have often used assumptions that don’t match the reality. This study deals with
modelling and estimating through simulating the risk from borrowing activities as it relates to
CRBs. Data was collected from annual default reports from the CBK, CRBs and major
financial institutions over three years (2018, 2019, and 2020). The study also used focus
group discussions to establish baseline levels of default factors. A sample of 12 participants
was drawn from the total population of CRB staff members performing the core functions of
credit risk determination. The study data was collected using document analysis and Focus
Group Discussions (FGDs) to gather historical and current data both qualitative and
quantitative. Using the advanced system dynamics approach, the study conducted simulations
with starting values from real world scenarios to produce actual measurements of defaulting
risk. The model involves analysing the dynamics of common factors which influence the
borrower’s ability to repay loans. Descriptive analysis was through tabled summaries and bar
charts, and explorative analysis applied Causal loop diagrams (CLDs). The simulation was
conducted with the aid of graphical output generated from calibration of stock-and-flow
diagrams. Through simulations, the study demonstrated how influential parameters of the
model are estimated and provided statistical evidence that the model fits the Kenyan CRBs
situation better than other often used techniques. The information gained from this study will
benefit the government, the Central bank of Kenya (CBK), research scholars and other major
financial institutions around the country
Factors Influencing Public Debt In Kenya
No full textPublic debt in Kenya continues to rise each year and now the country faces the possibility of plunging into a serious economic crisis due to inability of the government to repay what it owes. The purpose of this study was to investigate factors influencing public debt in Kenya. Specifically, the study sought to determine the influence of budget deficit, official development assistance, balance of trade and economic growth on public debt in Kenya. The study was anchored on the political business cycle theory, public choice theory and Ricardo’s theory on public debt. This study adopted a historical time series research design. The study was based on Kenya and data was collected quarterly for 20 years starting in year 2000 to 2019. A time series regression model was applied to analyze the collected data. This section provides the summary of the study findings. The summary is provided in relation to the research objectives. Regarding budget deficit, the study findings indicated that the first lag of budget deficit had a significant positive effect on public debt (β = 0.54, p = 0.009). The study findings also determined that the first lag of ODA did not have any significant influence on public debt (β = -0.15, p = 0.591). Concerning balance of trade, the findings showed that the first lag of balance of trade had a significant negative effect on public debt (β = -0.45, p = 0.008). However, the study findings indicate that the first lag of economic growth did not have any significant influence on public debt (β = -0.002, p = 0.971). Considering the findings made in the study, the study makes some vital recommendations. The governments should ensure that budget deficit is returned to sustainable levels and fiscal discipline observed. Regarding ODA, the government of Kenya should seek more multilateral and bilateral cooperation with development partners so that to enhance ODA as a large proportion of financing government recurrent and development expenditure. Further, the government of Kenya should enhance its balance of trade through expenditure-reduction measures that are intended to limit expenditure on imports and regulate demand, by putting downward pressure on demand, and thereby promoting private sector and household saving. Lastly, the study recommends stimulation of key sectors that contribute significantly to the economic growth such as agriculture, technology and manufacturing
Effect Of Voluntary Accounting Disclosures On Financial Performance Of Insurance Companies In Kenya
No full textNon-disclosure of vital reports has made stakeholders to lack confidence in investing with such companies leading to a decline in performance. As a result, various organizations, including insurance companies have in the recent past adopted voluntary accounting disclosures as part of their financial management. Nonetheless, despite the use of voluntary accounting disclosures, the performance of Kenyan insurance companies still remains low. The general study objective will be to examine effect of voluntary accounting disclosures on financial performance of Kenyan insurance companies. Moreover, the study also sought to establish the influence of financial information disclosure, forward looking information disclosure and environmental accounting on financial performance of Kenyan insurance companies. Further, the on-going study sought to evaluate moderating effect of corporate governance on the association between voluntary accounting disclosure and financial performance of Kenyan insurance companies. Additionally, explanatory research design was employed during the study. The target population was the 55 Kenyan insurance companies. The present study deployed census approach and hence all the 55 insurance companies were included in the study. The study made use of secondary data, which was obtained from the annual reports of insurance companies in Kenya and from Central Bank of Kenya‘s bank supervision reports. The study made use of a data extraction tool to collect secondary data. In the analysis of data, the study used both inferential and descriptive statistics and all statistical analysis was carried out using STATA version 14. Descriptive statistics comprised of frequency distributions, percentages, mean, variances and standard deviation. On the other hand, inferential statistics were carried out using regression analysis, which was either fixed effect or random effects depending on the results from Hausman test. The study found that financial information disclosure has positive and significant effect on financial performance of insurance companies in Kenya. In addition, forward looking information disclosure has an inverse and significant effect on financial performance of insurance companies in Kenya. Further, the study found that environmental accounting information disclosure has positive and significant impact on financial performance of insurance companies in Kenya. Also, the study established that corporate governance has statistically significant effect on the relationship between voluntary accounting disclosures and financial performance of insurance companies in Kenya. The study recommends that insurance companies should improve the disclosure of information such as return on assets, return on shareholders‘ funds, liquidity ratios, bank loans and mortgages and historical summary of financial data among others. In addition, the management of insurance companies should increase the use of forward looking information disclosure including profit forecast, earnings per share forecast, new product/service development as well as planned research and development expenditure, capital expenditure and advertising and publicity expenditure. Further, the management of insurance companies should improve the use of environmental accounting including environment policy, environment management system, environmental compliance, environmental cost identification, waste management and environmental budget among others