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Effects Of Foreign Aid On Economic Growth In Kenya
No full textThis study focused on the relationship between foreign aid and economic growth in Kenya. The dissertation had three objectives as follows: to establish the impact of emergency aid to economic growth, to examine the effects of concessional loans to economic growth and finally to evaluate the impact of grants to economic growth in Kenya. Extensive literature was reviewed to establish the signifiacnce of the study, highlight knowledge gaps and provide benchmark for comparison of the findings. The study would be invaluable to the various stakeholders such as policy makers and different government agencies by supplying vital information relating to foreign aid that would nurture economic growth in Kenya. The study used secondary annual time series data acquired from World Bank, Central Bank of Kenya and Kenya National Bureau of Statistics. The study sampled a period of 55years from 1963 to 2018 in Kenya. Descriptive research design was used. Time series analysis was be applied to check the relationship among the variables. STATA and MS Excel were used in data analysis. Econometric modelling was used to check the relationship between the variables. Vector Error Correction Model (VECM) was fitted. The results were consequently displayed using charts, tables and percentages. The study concluded that foreign aid had significant effects on economic growth through filling domestic savings and foreign exchange traps. The study on the effects of foreign aid has experienced mixed reactions with various scholars arriving at different conclusions. There are those researchers that are in agreement with notion that foreign aid results in economic growth of a country while others do not. Those who support such conclusions claims that foreign aid helps Least Developed Countries to grow economically and improve human development especially countries with sound political and economic policies. However, scholars who are against feels that aid creates a moral hazard problem whereby the government can spend funds without proper budget policy being sure that the donors will come into rescue in case of any financial difficulty. I recommend that the government should ensure that the loans and aid should be channeled in sectors of economy that would have significant effect on growth. Also, there should be policies and regulation in place to ensure that aid received is not embezzled or misappropriated. This in essence requires policy makers in the government, civil society and oversight bodies such as National Assembly, Auditor General, Ethics and Anti-Corruption Commission among others to be extra vigilant and judicious in ensuring that aid received is used for intended purposes
KCA University launches student laptop project as classes move online
No full textThe DVC for academic affairs Prof Joshua Bagakas said the university identified students access to virtual classes is one of the main challenges that needed to be addressed
Effect of Innovative Finance on Kenya’s Public Debt
No full textThis study was to determine the effect of innovative finance on Kenya’s public debt. Specifically, it
aimed to establishing the effect of foreign remittance, financial transaction tax and guaranteed loan
financing on public debt level in Kenya. A descriptive research design was adopted and population of
interest for the study was Kenya. Secondary data for a period of 5 years from 2014 to 2018 was utilized
while the Vector auto regression model was estimated to establish the relationship between the
variables. The results indicated that there is a positive and significant relationship between foreign
remittance and public debt in Kenya while a negative and significant relationship was established
between financial transactions tax, no significant relationship was established guaranteed loans and
public debt in Kenya. The study concludes that foreign remittance has a positive and significant effect
on public debt level in Kenya while financial transactions tax has a negative and significant effect. It
therefore recommends that the government through relevant institutions should strengthen policies on
various innovative taxes including financial transactions tax. This will ensure that more revenue is
obtained through taxes; this can be used to repay existing loan as well as financing development
Effect of Interest Rates on Private Sector Debt in Kenya
No full textThis study sought to examine the effect of interest rates on domestic private sector debt in Kenya over
the 30 year period from 1990 to 2019. The dependent variable was private sector domestic debt, the
independent variable was commercial bank weighted average lending rate while the control variables
were annual GDP growth, extended broad money (M3) and annual USD-KES exchange rate. Using the
Prais-Winstein estimator model, the regression model findings were commercial bank lending rate had
an insignificant relationship with domestic debt at 95% confidence level but significant at 90% level
while money supply had a negative and significant relationship with domestic debt. The study noted
predominance of the banking sector in the financial sector and identified the need of a well-developed
corporate debt market
The Relationship Between Foreign Inflows And Stock Market Performance In Kenya
No full textThe paper sought to investigate the relationship between foreign inflows and the performance of the stock market in Kenya over a 6-year monthly period from 2013 to 2018. The population of the study was the market capitalization for the Nairobi Securities Exchange for the period under study. In order to achieve the purpose of the study secondary data from all stocks that traded consistently from January 2013 to December 2018 was employed. Secondary data was collected from the Nairobi Securities Exchange, the World Bank website and the Capital Markets Authority website. The aim of this study was to examine empirically whether there exists a nexus connecting foreign inflows and the stock market performance of the Nairobi Security Exchange by use of the analytical tool STATA. Data stationarity was determined using ADF, and co-integration tests was conducted. An analysis of the cause and effect relationship between the variables was determined through the Granger causality test. The research conducted an analysis of the stocks market through market capitalization against the foreign inflows. The general objective was to determine the relationship between foreign inflows and stock market performance. The study found both short run and long run relationships between the stock market performance and two explanatory variables but no relationship between the explained variable and FDI. The results found that there was significant and negative relationship foreign debt and remittance. The study also established a positive but insignificant relationship between the dependent variable and foreign direct investments. Causality tests established that none of the variables granger-cause the dependent variable. The study recommended that the government monitors the foreign inflows as they have a negative relationship with the performance of the stock market
Store Image as a Mediator of Consumer Purchase Intention in Kenyan Supermarkets
No full textThe intensity of competition in the retail sector in Kenya is driving supermarket managers to position store
image as a tool of competitive advantage. This study examined the mediating effect of store image on the
relationship between psychographic and psychological factors and consumer purchase intention in anchor
supermarkets in Kenya. Descriptive cross sectional survey was applied on a sample of 384 consumers. The
composite construct of psychographic and psychological factors was regressed on consumer purchase
intention, resulting in a positive significant effect. It was established that store image partly mediates the
relationship between psychographic plus psychological factors and consumer purchase intention. The study
recommends building of positive reputation of the supermarket to attract and enhance the consumer’s
intention to purchase
Effect Of Financial Risk On Financial Performance Of Commercial Banks Listed On Nairobi Securities Exchange In Kenya
No full textFinancial risk concerns have been increasing and in this risk environment, banks are looking to develop robust financial risk management frameworks that satisfies compliance demands, results to better decision making, and also enhances performance. This study sought to investigate the effect of financial risk on financial performance of commercial banks in Kenya listed on the NSE. The study used the major financial risk according to Basel Committee of Banking Supervision that is operational risk, credit risk, market risk and liquidity risk. The study adopted descriptive research design approach and used secondary data for the 11 listed commercial banks. The data was obtained from the published financial statements of the commercial banks which is available from NSE, websites of the respective commercial banks and the CMA. This research covered a period of 10 years from the years 2010 to 2019. The 10-year period was necessary to enable panel data analysis. The results indicated that there was a negative and significant relationship between liquidity risk and financial performance of listed commercial banks in Kenya (β= -3.5221, p=0.0090). Further, the results indicated a negative and significant relationship between credit risk and financial performance of commercial banks listed in the Kenyan NSE (β=-4.2020, p=0.0010). Market risk had a negative and significant relationship with financial performance of listed commercial banks in Kenya (β= -2.6809, p=0.0450). Lastly, operational risk revealed a negative but insignificant relationship with financial performance of listed commercial banks in Kenya (β= -1.7752, p=0.2050). Based on the study findings the study concluded that there is a strong correlation between liquidity risk, credit risk, market risk and operational risk on financial performance of commercial banks listed with the Nairobi Securities Exchange. The study recommended that the managers can minimize credit risk by ensuring that the credit worthiness of would be borrowers is assessed together with the collateral which should be wholly ensured. The study recommends that bank managers should ensure that commercial banks invest excess cash in productive assets. Lastly, the study recommends that the banks should establish financial risk early warning mechanism so that managers can take effective real time comprehensive management to reflect banks financial position including financial structure, profitability and asset utilization to enhance operational efficiency
Impact Of International Financial Reporting Standard 9 (Ifrs 9) Implementation On Financial Performance Of Commercial Banks In Kenya
No full textThe purpose of this study was to do a comparative analysis of the effect of IFRS 9 on performance of Kenyan commercial banks. The study compared the financial performance before and after the implementation of IFRS 9 reporting standard. The specific objectives were to determine the effect of fair value adjustment on performance of commercial banks in Kenya following the implementation of IFRS 9; to establish the effect of expected credit loss impairment review method on financial performance of commercial banks in Kenya following the implementation of IFRS 9; and to establish the effect of loan amortization approach on performance of commercial banks in Kenya following the implementation of IFRS 9. The study used descriptive research design and targeted all commercial banks in Kenya for the period of 2017 to 2018. All the 42 commercial banks licensed by the Central Bank of Kenya were selected for the study. Secondary data was obtained from audited financial statements. A total of 26 commercial banks had complete financial data for the computation of fair value adjustment, expected credit loss and loan amortization variables. STATA software was used for descriptive and inferential statistical analyses. Descriptive analysis was used to compute means and standard deviations, while inferential analyses, specifically paired sample t tests and panel data regression, was used to determine the relationship between the implementation of IFRS 9 and financial performance of commercial banks in Kenya. The findings were presented using tables. Findings show that fair value adjustments were higher in 2017 than 2018; however, there was differences in means was not statistically significant. Panel regressions showed that fair value adjustments had a positive but statistically insignificant influence on financial performance. Expected credit loss impairments were higher in 2018 than 2017, with paired sample t tests indicating a statistically significant difference in reported expected credit loss impairments before and after the implementation of IFRS 9. Expected credit loss impairments had a negative effect on ROA; the influence was not significant. Loan amortization costs remained stagnant in 2017 and 2018, and the differences in means was not statistically significant. Panel regressions demonstrated that loan amortization approach had a negative effect on the financial performance of commercial banks. These findings indicate that considerations for the changes in classification and calculation of credit losses need to be taken into account in strategies for profitability growth and financial stability
The Effect Of Human Resource Management Practices On Employee Performance Of Public Hospitals In Kajiado County, Kenya
No full textHealthcare is one of the fastest growing sector and to offer quality care to patients, a large pool of well trained, dedicated and motivated medical professionals is required. Given the healthcare workforce-intensive nature, the human resource management practices come in handy to facilitate and support the recruitment, hiring, development of the employees, with the goal of raising levels of employee performance and satisfaction. This study, therefore, sought to determine the effect of human resource management practices on employee performance of public hospitals in Kajiado County, Kenya. The specific objectives were to determine the effect career development, compensation, performance appraisals and recruitment on employee performance of public hospitals in Kajiado County, Kenya. The study was carried out in Kajiado County public hospitals. The theories that informed the study were self-efficacy theory, expectancy theory, social comparison theory and attribution theory. The study employed descriptive research design. Primary data was collected by means of a structured questionnaire. The study was conducted in the 5 public hospitals in Kajiado County (Kajiado County Referral Hospital, Ngong Sub County, Oloitoktok Sub County, Kitengela Sub County and Ongata Rongai Sub County). The unit of observation was the medical staff in each of the health cadres. The data was analyzed using descriptive and inferential statistics. The study findings indicate that career development and employee performance in public hospitals in Kajiado County, Kenya is positively and significantly related. Compensation and employee performance in public hospitals in Kajiado County, Kenya is positively and significantly related. Performance appraisals and employee performance in public hospitals in Kajiado County, Kenya was positively and significantly related. Recruitment and employee performance in public hospitals in Kajiado County, Kenya is positively and significantly related. This study, therefore, recommends that the management of public hospitals should consider organizing for trainings and seminars for the employees as this will help to increase employee skills, loyalty and competence making them more willing to work harder for the success of the public hospitals. Compensation approaches and techniques used in the health sector should be regularly reviewed with the changing times. The management should broaden the external recruitment sources of human capital to promote equality for job seekers and enhance performance of employees by selection of competent health staff