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Firm Characteristics And Operational Efficiency Of Agricultural Firms Listed At Nairobi Securities Exchange In Kenya
No full textOperational efficiency has attracted much interest in corporate finance literature over several decades. However,
in the context of the agricultural sector, it has received little attention in developing economies such as Kenya.
Operational efficiency and performance of Agricultural firms listed at the Nairobi securities Exchange have been
fluctuating over the years. This is partly attributed to specific firm characteristics. The objective of this study was
to determine the relationship between firm characteristics and operational efficiency of agricultural firms listed at
Nairobi securities Exchange. The study was anchored on trade off theory, liquidity preference theory, agency
theory, miller and Orr’s cash management model. The target population was 7 agricultural companies listed at
Nairobi securities exchange. The study used audited financial statements’ secondary data collected from 2011 to
2020. Data was analysed using descriptive statistics, correlation analysis and panel data regression analysis with
the help of STATA version 13. The study found out that there was a significant negative relationship between
asset tangibility, firm size and operational efficiency of agricultural companies listed at Nairobi securities
exchange. Further, there is a significant positive relationship between cash reserves and operational efficiency of
agricultural firms listed at Nairobi securities exchange. This study recommends that management of agricultural
companies listed at Nairobi securities exchange should pay attention on asset tangibility, firm size and cash
reserves because they have a significant relationship with operational efficiency. Firms can utilize productive
assets as collateral for debt without incurring high borrowing costs. The firm size should be optimal because very
large firms are characterised by inefficiencies due to control weaknesses. Policy makers should incorporate factors
such as asset tangibility, firm size and cash reserves in their strategic plans
Effect Of Internal Control Elements On Organizational Performance Of Level-5 Public Hospitals In Nairobi County
Get PDFSeveral companies around the world have recently collapsed, despite the presence of internal
controls. This has raised questions about the significance and power of internal control,
especially when it comes to an organization's organizational performance. The general
objective of this research study was to look into the effects of internal control elements on
the organizational performance of level-5 hospitals in Nairobi County, Kenya. The study
was guided by specific objectives. A descriptive research design was used in this survey.
The population of this study was 68 staff in the accounts/finance, administration, ICT and
operations departments at the 3 level-5 public hospitals in Nairobi County (Mama Lucy
Kibaki, Pumwani Maternity and Mbagathi District Hospital). The research used census
method where all 68 respondents were involved in the study. Data was collected using
questionnaire. The statistical package for social sciences (SPSS) was used to analyze the
data. Descriptive statistics of percentages, means, and frequency tables were used. The study
concludes that control environment has a positive and statistically significant effect on the
performance of level 5 public hospitals. Risk management has a positive and significant
effect on performance of a level 5 public hospitals in Nairobi county. Control activities have
a negative and an insignificant effect on performance of a level 5 public hospitals.
Information communication has a positive and significant effect on performance of a level
5 public hospitals in Nairobi County. Finally, the study concludes that monitoring activities
has a positive and significant effect on performance of a level 5 public hospitals in Nairobi
County. The study recommends that strategic direction and priorities of the organization
should be established, and this should serve as the foundation for the development of
methods for assessing risks and operating effectiveness. Risks must be addressed at all levels
of the organization, and the necessary actions must be taken to mitigate them. Internal and
external factors can both pose and mitigate risks. It is necessary to put in place control
activities such as policies and procedures that will aid in the implementation of management
directives. Top management must send a clear message to all employees that their control
responsibilities must be taken seriously in order for them to carry out their responsibilities
effectively. At the end of the study, it is recommended that internal control systems be
monitored, which is defined as a process that assesses the overall quality of the system's
performance over an extended period of time
Effect Of Foreign Inflows On Real Estate Investment In Kenya
No full textForeign inflows contribute to the growth and development of countries. The financial sector plays intermediary roles between savings and investment in various economic units which spans across the selection investment projects and the final users of financial resources. Real estate investment performs a vital role in the economy of Kenya. Over the years, Kenya has experienced increased investments in the real estate sector which is attributed to the quest of owning houses by Kenyans. This study examined the effect of foreign inflow on real estate investment in Kenya. Specifically, it assessed the effect of diaspora remittance, foreign direct investments and portfolio management on real estate investment in Kenya. The study further evaluated the moderating effect of financial development on the relationship between remittance and real estate investment in Kenya. The study was guided by Pure Altruism Theory, Pure Self Interest Theory, Portfolio Theory and Financial Intermediation Theory. The causal research design was used in the study. Mainly, the Auto-regressive Distributed Lag bounds test and the Dynamic Ordinary Least Squares methods were employed. The findings revealed that Foreign Direct Investment Portfolio Investment have significant negative effect on Real Estate investment in Kenya in the short run. Also, the interaction between Financial Development and Foreign Direct Investment was weakly significant. The study concluded that foreign inflows determine Real Estate Investment only in the short run in Kenya. In the long run, their effects on Real Estate Investment wanes. The study also concludes that the moderating effect of Financial Development on the relationship between Foreign Inflows and Real Estate Investment in Kenya is feasible only through the Foreign Direct Investment channel. Therefore, the study recommends that the Government of Kenya looks inward for alternative funding options such as mortgage financing to achieve growth in the real estate sector. The foreign inflows have shown to influence real estate investment only in the short run
Effects Of Supplier Relationship Management On Sustainable Supply Chain Management Performance Of Large Essential Goods Manufacturing Firms In Kenya.
Get PDFThe purpose of the study was to examine if the three constructs of Supplier Relationship Management
(SRM) are adopted by large essential goods manufacturing firms in Kenya and how these constructs
contributed to Sustainable Supply Chain Management Performance (SSCMP) of these firms. The
study was necessitated by lack of adequate research on the effects of SRM on SSCMP of large
essential goods manufacturing firms in Kenya and the insights from the study would be useful to
policy makers, procurement leads and management of manufacturing firms. To achieve the study
objectives, the researcher sought to determine the effect of Supplier Appraisal Criteria, Supplier
Collaboration, and Supplier Development on Sustainable Supply Chain Management performance of
large essential goods manufacturing firms in Kenya. This research project relied on three theories:
stakeholder theory, resource dependency theory and institutional theory to explain the linkage between
SRM and SSCMP. By first examining past research in the field of SRM constructs and SSCMP, the
study addressed research gaps identified through literature review. The study adopted a descriptive
research design and used a target population of 462 procurement officers of the selected manufacturing
firms. A sample of 118 staff was identified through stratified random sampling and issued with
structured questionnaires. The study used regression coefficients and equations to explain the
relationship between supplier appraisal criteria, supplier collaboration, supplier development and
sustainable supply chain management performance of large essential goods manufacturing firms in
Kenya. Concerning the first research objective, the results established that, the extent of use of
supplier appraisal criteria had increased SSCM performance in the targeted manufacturing firms in
Kenya. In relation to the second objective, the results showed that the degree of implementation of
supplier collaboration activities by manufacturing firms in Kenya had led to improved SSCM
performance. For the third objective, the results showed that the level of supplier development
initiatives in the manufacturing firms in Kenya had led to improved SSCM performance. The
conclusive study results revealed a very strong positive relationship between Supplier Relationship
Management elements of Supplier Appraisal Criteria, Supplier Collaboration, and Supplier
Development and SSCM performance. The study finally recommended to policy makers and
regulators to demand that management of manufacturing firms in Kenya incorporate sustainability
issues in their supply chain management goals. By managing and seeking to improve environmental,
social and economic performance throughout supply chains, manufacturing firms act in their own
interests, the interests of their stakeholders and the interests of society
Factors Affecting The Effectiveness Of External Audit Function Among Deposit Taking Savings And Credit Cooperative Societies In Nairobi County.
No full textThe practice of auditing firms has been growing. Many audit firms have come forward to provide audit services. There are concerns that have been raised regarding the conflict of interest between the official role of the auditor and other client services, the emergence of global accounting failures has brought great frustration to investors and other shareholders. Based on these observations, the aim of this research will be determine the factors affecting effectiveness of external auditing in SACCOS in Nairobi County. In order to attain those objectives, the study sought to establish the effect of audit committee, professional/technical skills,the independence of the auditors and effect of audit fees and audit committee on external auditing in SACCOs. The research study used descriptive research design. The population of study constituted of external auditors among selected SACCOs in Nairobi County. The study used a census sampling method. Findings revealed that there is a significant influence of audit fees, audit committee, professional skills competence and independence of external auditors on effectiveness of external audit function. Audit committtee had a negative and insignificant effect on effectiveness of external audit function in DT-SACCOs in Nairobi County. Audit fees had a positive and significant effect on effectiveness of external audit function in DT-SACCOs in Nairobi County. Professional skills competence had a positive and significant effect on effectiveness of external audit function in DT-SACCOs in Nairobi County. Independence of external auditors has a positive and significant effect on effectiveness of external audit function in DT-SACCOs in Nairobi County. The study recommended that SACCOs need to invest in their external audit function so that they may be at par with their accounting records
Impact of International Trade and Foreign Direct Investment on Economic Growth: The Nigerian Perspective
Get PDFThe issues on the international trade and economic growth are of interest not only to policy
makers. But also to academicians. This is because international trade serves as means of getting
the revenue for running the activities in the country, opportunity to develop international
relation with other countries and Nigeria is not an exception. Therefore, the research on the
topic is very important at the moment, which contributed to the body of knowledge and also
serves as working tool for the practitioner/Government on to how improve the revenue
generation of Nigeria. The objective of the study was to examine the impact of international
trade on economic growth of Nigeria at long run and short run. The data was collected using
secondary source from Central Bank of Nigeria (CBN) statistical bulletin for various years.
Autoregressive Distributive Lag (ARDL) was used as estimation techniques of the study. It was
found that export has insignificant impact on economic growth of Nigeria at long run among
others. It is recommended that authorities concern shall device a means on improving the level
of Nigerian export from all sectors of the economy
Effects Of Corporate Governance On Service Delivery To The General Public: A Case Study Of Homa Bay County Government
No full textWith proper implementation, corporate governance holds an ability to improve management, service delivery and generally people’s lives. The main aim of decentralization through county level governance was practically bringing services down to the people. For this reason, there will be urge to find out the extent to which corporate governance influences service delivery at the county government level with focus at the county government of Homa Bay. The major aim of this study will be to determine the magnitude at which corporate governance influences service delivery at the county government of Homa Bay in Kenya. The specific objectives of this study will be to: find out the degree to which accountability of staff influence service delivery at the county government of Homa Bay; establish how transparency influence service delivery at the county government of Homa Bay; determine the extent to which public participation influence service delivery at the county government of Homa Bay; and to determine the extent to which inclusivity influences service delivery at the county government of Homa Bay. The study adopted descriptive research design with a target population of 160 respondents and census method. Qualitative and quantitative data was collected and analysed used SPSS Version 20.0 and Nvivo version 15.0 for analyzing qualitative data. The results established that majority of the respondents agreed that accountability, transparency, public participation and inclusivity affects service delivery at Homa Bay County. Accountability had a positive influence on service delivery. A unit increase in accountability would lead to a significant increase of 29.3% in service delivery at Homabay County Government. Public participation had a positive influence on service delivery. Public participation is the most important factor that influence service delivery. A unit increase in public participation would lead to a significant increase of 75.8% in service delivery at the Homabay County government. Transparency had a positive influence on service delivery. A unit increase in transparency would lead to a significant increase of 22.3% in service delivery. Inclusivity had a positive influence on service delivery. A unit increase in inclusivity would lead to a significant 38.3 % in service delivery. Constant – On average, the level of service delivery in the absence of any predictor variables was 2.73
Effect Of Critical Success Factors On Project Delivery In Project-based Organizations, Nairobi County
No full textThe project delivery process is complex, “usually requiring simultaneous attention to a wide variety of human, budgetary, and technical variables. “As a result, the organizational project manager is faced with a difficult job characterized by role overload, frenetic activity, fragmentation, and superficiality. The objective of the study is to evaluate the effect of critical success factors on project delivery in project-based organizations. The study categorizes the critical success factors as competence, resource mobilization, organizational culture and change leadership which form the specific objectives. The study population was the project based organizations in Nairobi County. A total of 11 project based organizations in Kenya were used and were differentiated by respective industry. The unit of observation was 66 top managers and project supervisors in the 11 project based organizations. Primary data was obtained using questionnaires. The data was analyzed using descriptive and inferential statistics. The study conducted normality test, multicollinearity and heteroscedasticity. A regression model was used to test the relationship between the critical success factors on project delivery. The results indicated that competence, resource mobilization, organizational culture and change leadership explain 88.1% of the variations on project delivery in project-based organizations. The results showed that competence and project delivery is positively and significantly related. The results further indicated that resource mobilization and project delivery are positively and significantly related. Organizational culture and project delivery is positive and significant. Lastly, results showed that change leadership and project delivery is positive and significant. The test for hypotheses at a significance level of 0.05 led to rejection of the entire null hypotheses that competence, resource mobilization, organizational culture and change leadership have no significant effect on project delivery. The study recommends and emphasizes the development of competencies of all project managers by involving them in training and development programs in order to develop both their soft and hard skills. The study recommends that organizations should have clear outlined vision and objectives which prioritize on mobilizing resources for all the projects. The project structure should be tailored towards the resource dimensions and capacity of the organization with substantial focus on successful completion. The study recommends that the leadership should strengthen the project operating culture by identifying well-defined mission and vision statements and sharing them with the project staff, clients, and relevant stakeholders.
Kenya’s economic potential points to a country capable of self-sustenance
No full textCovid-19 has extensively suppressed world economies over the past one year -Kenya’s included. Thousands have had to contend with substantial pay cuts as their employers endeavored to align to the tough times. In a report released last year, the Kenya National Bureau of Statistics (KNBS) noted that almost 4.64 million people had lost their jobs by June 2020 up from 2.94 in March 2020 when the first confirmed case of Covid-19 was reported. As it stands, the situation could be worse