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Effect Of Risk On Financial Performance Of Agricultural Companies Listed On Nairobi Securities Exchange
No full textAgricultural sector in Kenya is exposed to various risks which originate from both the internal and external environment. Long term sustainability and financial viability of agricultural firms is threatened by risk exposure. Key categories of risks such as operational, liquidity and credit risks possess a major challenge despite the steady growth recently experienced in the Kenyan agricultural sector. In line with the challenges experienced, the study sought to establish the extent to which operational risk, liquidity risk and credit risk affect the financial performance of agricultural firms listed on Nairobi Securities Exchange. The target population were the six agricultural firms listed on NSE for the period between the year 2009 and 2018. A descriptive research design was adopted for the study and data obtained was edited and coded for the purposes of data analysis. Data was further summarized using descriptive statistics such as measure of central tendency, measures of variability, and measures of reliability and frequency among others. Diagnostic tests such as Wooldridge test, Modified Wald test and Hausman tests were also run to specify the regression model to be run. STATA software was used in analysis of the panel data. Panel data was analysed and data obtained from Nairobi Securities Exchange and published annual report and financial statements of the six agricultural firms listed on NSE and the individual firms’ website. Data was analysed using panel data regression model. The results of the analysis indicated that the null hypothesis that operational risk, liquidity risk and credit risk have negative effect on financial performance on agricultural companies listed on NSE was rejected at 5 percent significance. The study recommends that proper guidelines and procedures to be put into place to ensure operational risk is well mitigated and effective lease arrangements also be instituted in order to curb risk associated with agricultural produce. In addition, the management should maintain assets which can be easily converted into cash and cash equivalents when need arises in order to curb cash flow constraints and the management should maintain lower inventory levels. Further, the companies should come up with proper credit risk transfer mechanisms and policies to curb credit risk. The study therefore concludes that operational risk, liquidity risk and credit risk negatively affects financial performance of agricultural companies listed on NSE
An Artificial Neural Network Decision Support Model For University Students Progression
No full textThis study is motivated by the recent developments in the Kenyan education sector. The
government has introduced tough measures to curb cheating of K.C.S.E exams thus resulting
to decreasing number of students who qualify for university placement. This means that the
number of students being admitted to the university has drastically declined. The number of
students achieving the minimum entry points to the universities has steadily declined. This is
evident from the fact that previously the entry point to JAB programs was B plus and above
but currently this has changed to C plus and above. The number of students dropping out of
campus has also increased as well as the number of students deferring their studies. It is
important to predict the progression rate of students in order to target potential students for
early intervention. The main objective of the study was to develop an artificial neural network
model for progression rate of university students. The specific objectives of the study were to
determine the enrolment rate, dropout rate and deferment rate of students, to develop an
appropriate artificial neural network model that uses the identified factors for predicting
progression rate and to validate the developed model. Data was obtained from the Technical
University of Kenya database system. The data contained information on students enrolled for
the 2015 to 2018 period of study. A total of 2976 students were used for the study. The data
was split into training and test set and then the artificial neural network model validated using
the sigmoid activation function. The progression rate was found to be 78.5%. The study
recommends that universities should have intervention programs for students who are at risk
of deferment or dropping out of the university
Effect Of Lean Manufacturing Practices On Supply Chain Performance Of Manufacturing Firms In Kenya: A Case Of Food Manufacturing Firms In Nairobi County
No full textPoor performance of food and beverage companies arising as a result of an increase in costs can be indicated by the closure of a fast consumer goods manufacturer such as Cadbury Kenya which closed down its Nairobi plant due to poor performance. On the other hand, other manufacturing firms in Kenya such as the tea manufacturing firms have implemented energy efficiency practices so as to manage energy wastage and reduce production costs. Scholars argue that lean practices have a direct correlation to the overall performance of the supply chain process with over a half of the performance of the supply chain process being directly determined by wastage and costs. The importance of lean manufacturing therefore motivated this study to focus on establishing the effect of lean manufacturing practices on supply chain performance of manufacturing firms in Kenya: A case of food manufacturing firms in Nairobi County. The study specifically focused on time production, cellular manufacturing, pre-production planning and total quality control. The study target population were 29 Food and Beverage Firms in Nairobi County. The study employed a descriptive research design to collect quantitative data. A census was conducted on all the 29 Food and Beverage Firms in Nairobi County. The units of analysis were the procurement managers, production managers and operations managers. Quantitative primary data was collected through questionnaires and analyzed using statistical package for socials sciences. Descriptive statistics of the form of mean and frequency analysis was used to describe the population. On the other hand, correlations and regressions was used to test the study hypotheses. The findings were presented in form of tables and figures. The findings of the study indicated that the four lean production practices of just in time production, cellular manufacturing, pre-production planning and total quality control are positively and significantly associated with supply chain performance. The study concluded that just in time production, cellular manufacturing, pre-production planning and total quality control are positively and significantly influenced supply chain performance of food manufacturing firms. The study recommended adoption of just in time production practices such as availing labor on demand in order to manage labor costs, availing resources on demand in order to manage wastage, production on demand in order to manage inventory costs, ordering raw materials from the suppliers only when there is demand for production from customers, having a simplified production design to ensure timely production and having multiple skill workers to ensure faster production. The study also recommended food manufacturing firms to consider increasing their use of cellular manufacturing by having a scheduled cell based layouts for production, using group technology to produce similar products and prioritizing sequential production for similar products
Factors Affecting Collection Of Non-oil Revenue In South Sudan
No full textAll over the world, the responsibility of any working nation is to provide services to the citizens. The insufficient collection of non-oil revenue has disabled many crucial services to the citizen; for instance, social amenities in the region. Thus, this study proposes to expound on the factors that weaken the collection of non-oil revenues apart from war and it propose various prospects to capitalize in order to utilize the resources adequately. The study further anticipates to examine the effect of staff competence, tax rate, taxpayer’s knowledge and tax compliance cost on collection of non-oil revenues in South Sudan respectively. It has employed methods like descriptive research design and probability sampling techniques. Therefore, fulfilling the intended purpose for this study, the researcher targeted 1,093 businesses who were taxpayers in Juba town as its population. Additionally, Yamane’s formula as elaborated later helped to come up with sample size of 293 respondents from where 249 responses were gathered. The study used questionnaire to collect primary data. Findings were presented using frequencies, percentages, means and standard deviations. Multiple linear regression to bring out the association between the independent variables and dependent variables in line with the research. Significance was tested at five percent level. According to the results, the study noted that every unit rise in staff competence led to a significant increase (β=0.6455, p value=0.005) in Non-oil revenue collection. Similarly, for each unit rise in tax rate, there is a significant increase (β=0.254, p value=0.021) in Non-oil revenue collection and the tax payers’ knowledge led to a significant rise (β=0.3055, p value=0.033) in Non-oil revenue collection. On the other hand, tax compliance cost led to an insignificant (p value=0.423) decline (β=0.1704, p value=0.423) in Non-oil revenue collection. As per the outcomes, the study suggests for a need to improving staff competence through coaching sessions and voluntary trainings, adjustment of tax rates, and to determine appropriate programs intended at educating taxpayers concerning their tax rights, legal requirements and responsibilities as it encouraged voluntary compliance amongst taxpayers in South Sudan
Effect Of Financial Risk Exposure On Financial Performance Of Manufacturing Firms Listed At The Nairobi Securities Exchange
No full textThe economic condition has forced many firms, including those in the manufacturing sector to be put under receivership as a result of financial losses and debts, which are associated with various risk exposures in the firm. The study sought to investigate the effect of financial risk exposure on the financial performance of manufacturing firms listed at the Nairobi Securities Exchange (NSE). The specific objectives were to; determine the influence of credit risk exposure, to establish the influence of liquidity risk exposure and to determine the influence of market risk exposure on the financial performance of manufacturing firms listed at the NSE. A census of Nine (9) listed companies as the target population was taken but only seven (7) companies participated in the study since they have all data for the period of study. The sample size of the study therefore was all the listed companies. Secondary data from the financial statements and other media printed information for a period of 2009 – 2018 was used and data was collected using data collection sheets. Multiple regression model together with the use of STATA software was applied for data analysis. To choose the true model, various diagnostic tests such as normality test, multicollinearity test, heteroscedasticity test and Hausman test was performed to choose the appropriate model of the study. The study findings established that data for the study met all the requirements of diagnostic tests. In Hausman test, the study chose random effect model (REM) as the most appropriate model for use in the study. A trend plot analysis was performed on each variables of the study and performance explained. From the correlation and regression analysis results of the study, the findings revealed that credit risk exposure (RT) had a significant positive relationship with financial performance. Second, the study established that liquidity risk exposure have insignificant positive relationship with financial performance (ROA) of the listed manufacturing companies at the NSE. Lastly, the results also revealed that there was insignificant positive relationship between market risk exposure and financial performance (ROA). The study recommends that the management, policy makers and investors need to develop effective financial risk policies that should help in curbing risks that companies are exposed to in the market so as to improve financial performance. The study further recommend that future study be undertaken on the financial risk exposures using other measures of various financial risks adopted in the study variables. The study recommended that a future study may consider using other financial performance measures like return on equity (ROE) or return on investment (ROI) so as to determine whether the level of consistency in research findings hold. There is also need for the studies to consider other companies listed at the NSE as potential area for research
Influence Of Competitive Strategies On Firms Performance Of Export Processing Zone Textile Industries In Kenya
No full textThis study seeks to assess the influence of competitive strategies on firm performance in textile industry in Kenya. The specific objectives of the study include the influence of cost leadership strategies, focus strategies and differentiation strategies on firm performance in textile industry in Kenya. These theories informing the study are Porter‟s Generic Competitive Strategies, Capability Based Theory and Resource Based View Theory. The target population of the study was the 15 EPZ companies in Nairobi County. Data was collected by administering a semi structured questionnaire. Descriptive research design was adopted because the study sought to describe one variable in a population at the selected EPZ companies. This study used human resource, sales and operations departments. In order to check reliability of the results, study used Cronbach‟s alpha methodology, which was based on internal consistency of values more than 0.7. Quantitative data collected was analyzed by the use of descriptive statistics using SPSS and presented through percentages, means, standard deviations, frequencies, Anova and the information was displayed by use of bar charts, graphs, pie charts, inferential statistics and regression analysis. A critical p value of 0.05 was used to determine whether the overall model was significant or not. The regression of coefficients results show that cost leadership strategy and firm performance is positively and significantly related (β=0.103, p=0.013). The results further indicated that Focus strategy and firm performance are positively and significantly related (β= 0.129, p=0.001). Lastly, results showed that differentiation strategy and firm performance were positively and significant (β =0.0.078, p=0.043). The study concluded that competitive strategies played a significant role on firm performance in textile industry in Kenya. This is because there existed a positive and significant relationship between cost leadership strategy, focus strategy and differentiation strategy on firm performance in textile EPZ companies in Nairobi County. The study recommends that the textile organizations should focus on adopting competitive strategies so as to improve organizational performance through increasing customer base, asset quality, quality of service and increased market share
Effect Of Selected Macroeconomic Variables On Trade Balance In Kenya
No full textThe subject of Trade Balance has drawn much attention and focus in recent years. The balance of payments records transactions that flow in and out of the country. Research has shown that macroeconomic variables including exchange rate, inflation and interest rate highly influence trade Balance.The study aimed at determining the effect of selected macroeconomic factors on the trade balance in Kenya. The specific objectives were to find out the effects of interest rate, exchange rate as well as inflation on trade balance in Kenya. The study was conducted in Kenya involving macroeconomic data between 1985 -2015. Data collected was purely secondary. The study adopted interest rate parity theory, purchasing power parity theory as well as balance of payment theory in articulating the synthesized concept under the study. The research design was descriptive in nature. The findings of the study was presented using graphs, professional tables as well as charts which was analyzed through time series regression analysis method and was enhanced by use of Eviews 9. The study found that real exchange rate and interest rate positively affects the balance of trade while inflation has a negative effect on the balance of trade. The finding is thereby important to the central bank, the Kenyan government, citizens as well as the scholars and academicians
Effect Of Logistics Management Practices On Supply Chain Performance Of Cement Manufacturing Firms In Kenya
No full textThe objective of the study was to determine the effects of logistics management practices on supply chain performance of cement manufacturing firms in Kenya. The study specifically sought to establish the influence of warehousing management,q information flow management, transportation management and inventory distribution management on supply chain performance of cement manufacturing firms in Kenya. The study was anchored on Resource Based Theory, Network Theory and Transaction Cost Theory. The descriptive design was applied and the target population was six cement manufacturing firms in Kenya. The population comprised of 72 management staff in the various departments which are involved in logistics management, in the targeted firms. This was a census study; hence all the 72 respondents formed the sample size for the study. The study collected primary data through use of a questionnaire which was administered to the management staff in the targeted six cement manufacturing firms in Kenya. The questionnaire was piloted to check for for reliability and validity. The collected data was analyzed through descriptive and inferential statistics. The descriptive statistics included means, standard deviation and frequency distribution while in inferential statistics. A regression analysis was also conducted to determine the relationship between variables.The analyzed data was presented using pie charts,bar charts,percentages and frequency tables. The study found out that the cement manufacturing firms had adequate warehouse and storage space to hold their stock; and that there was adequate utilization of the storage facilities in the factories. It was found that information flow management had improved production processes, stock control, and distribution of products to the market, which improved supply chain performance. Majority of the respondents indicated that transport management and inventory distribution management influenced supply chain performance in cement manufacturing firms to a great extent. The study concludes that warehousing management influences supply chain performance of cement manufacturing firms in Kenya to a great extent (β = 0.137, p=0.028). The also concludes that information flow management has a positive effect on supply chain performance of cement manufacturing firms in Kenya (β = 0.468, p=0.001). Inventory distribution management also has a positive effect on supply chain performance of cement manufacturing firms in Kenya (β = 0.375, p=0.001). The study recommends that management of cement manufacturing firms should consider to outsource some logistics services such as transport due to its advantages and its possible influence on operational performance, as it enables the firms to focus on its core competencies. The study also recommends that the cement manufacturing firms should continually communicate, network and share information with value chain partners so as to enable the firms understand the market demand. Effective inventory distribution management strategies would also enhance speed in delivery of goods to the market, production process, and also improve responsiveness and flexibility of the firms
Effect Of Workforce Diversity On Performance Of Information Technology Firms In Nairobi County
No full textManaging diversity in the workplace should be the concern of every organization. In
order to survive, a company needs to be able to manage and utilize its diversity for
creating advantages and its benefits. Managing diversity in the workplace should be a
part of the culture of the entire organization. Valuing and recognizing diversity is
imperative in order to maintain competitive advantage. The purpose of the study was to
determine the effect of workforce diversity on performance of IT firms in Nairobi
County. The specific objectives of the study were to; establish the effect of age diversity
on performance of IT firms in Nairobi County; determine the gender diversity impact on
performance of IT firms in Nairobi County; examine influence of education level
diversity on performance of IT firms in Nairobi County; and assess ethnicity diversity
influence on performance of IT firms in Nairobi County. The study adopted a descriptive
research design. The population of the study comprised of four executives from the 20
ICT based companies operating in Westlands, Nairobi County giving 80 respondents. A
census was employed on all the 80 respondents and thus the sample size was 80
respondents. The study collected primary data using questionnaires. The collected data
was coded into SPSS software and the analysis was done using descriptive and inferential
statistics. Means and standard deviations formed the descriptive statistics while
regression analysis was the inferential statistic. The findings were presented using
frequency distribution tables, graphs and pie charts. The study established that age
diversity (p=0.296) had no significant influence on organizational performance.
However, gender diversity (p=0.000), educational diversity (p=0.005) and ethnicity
diversity (p=0.000) all had p values less than 0.05 and thus significantly influence
organizational performance. The study concludes that gender diversity, educational
diversity and ethnicity diversity all significantly influenced organizational performance.
The study recommends that the top management team of all IT firms should recognize
and value age diversities at the work place. The management of all IT firms operating in
Kenya need to improve on their gender diversities at the work place to significantly raise
performance of their organizations.. All other firms in Kenya should strengthen their
education level diversities. All IT firms need to improve on their ethnicity diversity at
the work place
Dyadic Gaze Patterns during Child-Robot Collaborative Gameplay in a Tutoring Interaction
No full textThis study examines patterns of coordinated gaze
between a child and a robot (NAO) during a card matching game,
‘Memory’. Dyadic gaze behavior like mutual gaze, gaze following
and joint attention are indications both of child’s engagement
with the robot and of the quality of child-robot interaction.
Eighteen children interacted with a robot tutor in two settings.
In the first setting, the robot tutor gave clues to assist children in
finding the matching cards, and in the other setting, the robot
tutor only looked at the participants during the play. We
investigated the coordination between child and robots’ gaze
behaviors. We found that more occurrences of mutual gaze and
gaze following made the children aware of the gaze hints given
by the robot and improved the efficacy of the robot tutor as a
helping agent. This study, therefore, provides guidelines for gaze
behaviors design to enrich child-robot interaction in a tutoring
context