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ESTIMATION OF MISSING VALUES FOR BILINEAR TIME SERIES MODELS WITH GARCH INNOVATIONS USING NONPARAMETRIC METHODS
Get PDFA time series is defined as data recorded sequentially
Since the data are records taken overtime,
very common. They may occur as a result
lost records, deletion of outliers, calender
instruments
Imputation is a necessary part of preprocessin
EFFECT OF INTERNAL CREDIT RATING ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN KENYA
No full textFULL TEXTInternal credit rating (ICR) was used in evaluating the level of risk associated with a loan applicant and assign probabilities that an applicant with a given credit score would be good or bad. It could also be used as abasis for loan approval, pricing, monitoring and capital allocation. Lending difficulties may arise due to Internal Credit Rating (ICR) systems failure to consider and analyze potential borrower’s information before loans are approved and released to them, making loan monitoring and capital allocation based on the associated risk profile difficult. In recent years spanning 2011 to 2014, there have been growing trend of bad loans, this study aimed at investigating the effects of ICR on the financial performance of commercial banks operating in Kenya for 10 year duration from 2006 to 2015. The specific objectives of the study were to: Establish the effects of ICR-based loan origination process on the financial performance of commercial banks in Kenya; examine the effects of ICR-based setting of credit terms and conditions on the financial performance of commercial banks in Kenya; assess the effects of ICR-based credit monitoring on the financial performance of commercial banks in Kenya; and analyze the effects of ICR-based capital allocation on the financial performance of commercial banks in Kenya. The study was intended to be useful to bankers, bank supervisors, and other stakeholders including scholars and the general public. The study used the longitudinal research design to describe and provide a profile of the relationship between the bank ICR systems and risk adjusted financial performance of the various commercial banks. The population of the study consisted of 20 commercial banks registered, licensed and operating in Kenya as at the period of the study. The20 banks was purposively analysed after a preliminary survey carried out to establish the availability of data for all Commercial banks. Therefore, the study population comprised the 20 commercial banks in Kenya, arrived at using the purposive selection criterion. The main data collection instrument was the secondary data collection schedule with data being collected from the yearly bank reports, Central Bank of Kenya annual reports and Kenya Bankers Association. Data analysis was conducted with the help of STATA computer program, providing descriptive and inferential statistics. The descriptive statistics comprised the mean, median, standard deviations, minimum and maximum. The inferential statistics on the other hand consisted of; correlation analysis and panel data regression analyses. The study findings indicated that ICR-based setting of credit termsand conditions(r = 0.2697***; p = -0.0016); (β = 0.177**; SE = 0.0849)as well as ICR-based capital allocation (r = -0.061; p = 0.4679); (β = 0.0720; SE = 0.0500)related positively with financial performance of banks, Additionally, the results in respect to the effects of ICR-based loan origination (r= 0.1828**; p = 0.0345); (β = 0.0217; SE = 0.0619) and ICR-based credit monitoring(r = -0.1765**; p = 0.0445); (β = 0.0818; SE = 0.121)showed that it did not have any effect on the financial performance of the commercial banks in Kenya.The study therefore concluded that the effects of ICR and firm performance is multidimensional and is influenced by firm specific as well as contextual factors. Hence the study recommended continual ICR updating, intense use of loan covenants and collateral, and improving information sharing capabilities. As an area for further research, the study recommended the same research factoring in all the banks and automated credit risk analysis for remote lending transactions
Conceptualizing Economic Gains Through Social Capital among Coffee and Dairy Cooperative Societies in Kenya
No full textCooperatives organizations are independent local movement whose structures are embedded in the values, cultures and traditions of the communities they operate.
Cooperatives operating in regions with strong social capital bond coupled with better governance and leadership emerged to be more successful in addressing their members economic needs.
Cooperatives with low trust, minimal bonding and bridging networks have had very limited impacts on their clients’ economic status
PARENTAL INFLUENCE ON ADOLESCENT DEVIANT BEHAVIOR IN SECONDARY SCHOOLS IN BUNGOMA SOUTH SUB-COUNTY, BUNGOMA COUNTY,KENYA.
No full textstudents involvement in deviant behavior has been a major challenge to policy makers because it disrupts teaching and learning process due to punishments and other corrective measures that one imposed on the students.
Deviant behavior among secondary school going population, the world over, are of concern to educators, counselors and psychologists. This is because it affects peers, teachers and parents and it leads to wastage of timeDeviant behavior can be described as an action or behavior that violates social norms, including a formally enacted rule as well as informal violation of social norms. Examples of deviant behavior are physical aggression, property damage, fighting, bullying, drug abuse as well as disregard for authorit
THE ROLE OF FINANCIAL SERVICE ACCESSIBILITY AS A GROWTH STRATEGY IN COMMERCIAL BANKS: A CASE STUDY OF EQUITY BANK NAKURU TOWN
No full textFULL TEXTThe role of financial service accessibility as a growth strategy at equity bank has received considerable attention in the last twenty five years showing effective connection. The specific objective therefore was to assess and determine how financial institutional factors, financial structure, collateral requirements, and awareness of funding opportunities affect growth strategies in commercial banks.The Equity bank branch offices Nakuru town was the area where the general objective of the study was conducted of which has a workforce of 125 permanent employees as at January 2016. The study adapted a descriptive research design. Simple random sampling technique was employed. Sample size of 65 respondents was determined using Nassiuma’s formula. Primary data was then collected using questionnaires and results were presented in tables and figures. Both descriptive and inferential statistics were used to analyze the data with the aid of Statistical Package for Social Sciences (SPSS). The study findings indicated that the banks institutional factors(r = 0.224, p = 0.073), collateral requirement(r = 0.394, p = 0.010), and awareness of funding opportunity (r = 0.280, p = 0.005)had a significant effect on growth strategies. Financial structure (r = 0.840, p = 0.508) was found to have negative significant influence on growth strategies. Multiple linear regression analysis showed that institutional factors (β= 0.003, p value=0.791), financialstructure (β = -0.027, p value=0.552), collateral requirement (β= 0.166, p value=0.013) and awareness of funding opportunity (β = 0.164, pvalue=0.072) were all of a particular significant. This study found out that equity bank collateral security requirement(β= 0.166, p value=0.013) had a positive significant influence on growth strategies in commercial banks implying that effective collateral requirement practices leads to increased access to financial services achieving growth strategies. On awareness of funding opportunity (β = 0.164, p-value=0.072), findings are in line with this study in which efficient and effective awareness of funding opportunities had a positive significant influence on growth strategies. Findings also show that institutional factors (β= 0.003, p value=0.791) have significant but almost weaker influence on growth strategies of the bank.The key limitation was that the respondents were not willing to give the required information likely due to fear of intimidation or negative image perceived towards them after they gave the information out. This problem was handled by provision of an introductory letter from university that assured them that the information given would be treated confidentially and used for academic purpose only. The study thus concluded that effective and reliable financial structure, awareness of funding opportunities, collateral requirement and institutional factors were of significant importance towards the growth strategies of commercial banks. It is important to note that these factors are only responsible for variation of 15% of growth strategies. The study recommends that the bank should continue enhancing access to their financial products and services as well as coming up with more means and growth strategies towards creation of high level of quality services for this would enhance growth of equity bank. In addition, a research on effect of financial structure as a financial service accessibility factors need to be carried out to ascertain the negative correlation displayed in this study
FACTORS DRIVING CREATIVITY AND FUTURE DIRECTIONS FOR ECONOMIC EMPOWERMENT
Get PDFtivity is an indispensable
development over the long period
approach problems and solutions
existing ideas together in new combinations
the need for efficiency, economy,
evaluation ethics and market concerns
global economy, Johnson and
institutions must find ways for
competences as the old advantage
quickly eroded owing to dynamics
Because of the fact that changes
public sector, every institution
environment otherwise, they woul
AN INVESTIGATION INTO THE ROLE OF CORPORATE GOVERNANCE IN STRATEGY IMPLEMENTATION IN KENYAN CORPORATIONS: A CASE STUDY OF INDUSTRIAL AND COMMERCIAL DEVELOPMENT CORPORATION (I.C.D.C.)
No full textABSTRACT
CORPORATE GOVERNANCE – is the relationship among the board of directors, top management, and the shareholders in determining the direction and performance of the corporation. A case study of INDUSTRIAL AND COMMERCIAL DEVELOPMENT CORPORATION (ICDC)
STATING THE PROBLEM – the board of directors exists to protect the interests of the stockholders, so employees may not be represented on the board.
METHODOLOGY – a typical corporation structure consists of three main groups, directors, corporate officers, and shareholders, who are identified in the articles of incorporation.
KEYFINDINGS – when a corporate is first formed, its original owners are usually its first shareholders.
CONCLUSION – a strategy which contradicts an entrenched culture may find itself being quietly, sabotaged by the corporation’s most royal and competent employees.
RECOMMENDATIONS – keep the percentage of insiders typically top management to about 25 percent of less corporation’s membership.
KEYWORDS–Corporate Governance, directors, officers, shareholders
INFLUENCE OF STRATEGIC COLLABORATIONS ON THE COMPETITIVENESS OF PRIVATE COLLEGES IN NAKURU TOWN
No full textFULL TEXTCollaboration is currently one of the key elements of institutional competitiveness. In the face of continuous world economic changes, competition allows many institutions to improve and accelerate their collaboration processes. Universities as traditional sources of knowledge might be involved in such kind of collaboration. The increasing demand related with education of the population has led to the entry of a large number of private players in the education sector. This has also resulted to the development of competition among the private colleges or private universities for attracting good students as well as high revenue. Private colleges and private universities are also trying to adopt competitive intelligence in their action plan to get recognition as well as value for their college or university. The aim of this study was to establish the Influence of Strategic Collaborations on the Competitiveness of Private Colleges in Nakuru town. More specifically, the study sought to determine the influence of strategic financial allocation, explore the influence of strategic expansion, and assess the influence of strategic alliances on competitiveness of private colleges in Nakuru town. The study was grounded upon the Theory of Evaluation, Resource Based View Theory and the Resource Dependence Theory. This study adopted descriptive design. The target Population of the study consisted of six colleges. The study, being census, was conducted at Nairobi Aviation College, Tec Institute, Nakuru College of health sciences, Tracom College, Kenya Institute of Professional Counseling and Professional Studies and Lake Nakuru Hotel and Tourism Management College. Senior College management heads were targeted. Data collection instruments incorporated questionnaires, mainly structured in a 5-point Likert scale which were distributed to respondents through “drop and pick later” method. The researcher assessed the reliability and validity of data collection instruments with experts and through piloting. Quantitative data were analyzed using descriptive statistics, Pearson correlation coefficient and regression coefficients, after entering the raw data into the Statistical Package for Social Science (SPSS). The research findings indicated that strategic financial allocation, strategic expansion and strategic alliances could explain 50.7% of the variations in the dependent variable which is strategic collaborations on the competitiveness of private colleges in Nakuru town. Regression of coefficients results showed that strategic financial allocation and competitiveness were positively and significantly related (r=0.281, p=0.000), strategic expansion and competitiveness were positively and significantly related (r=0.186, p=0.000) and finally strategic alliances and competitiveness were positively and significantly related (r=0.313, p=0.000). The study may be of benefit and significant in enabling new private colleges determine whether university-college collaborations are a necessary strategy as a diversification strategy. At the end competitive advantage achieved by colleges or universities can be considered ethically and legally correct if it is beneficial for the students, parents and the society. The study recommends due attention on collaborative activities between the universities and colleges be sensitized since they can contribute to the success of future joint curriculum development project. Further research could also be undertaken between universities and industry context to understand the mechanisms by which universities transfer Research & Development knowledge in order to increase industry competitiveness and efficiency as well as overall economic and social development
ASSESSMENT OF FACTORS INFLUENCING RETENTION OF TEACHERS IN PRIVATE SECONDARY SCHOOLS IN NAKURU SUB COUNTY
No full textFULL TEXTThe purpose of the study was to assess the factors influencing teacher turnover in private secondary schools in Nakuru Sub County. The objectives of this study were to assess the extent to which leadership, working environment, remuneration and Organizational culture contribute to teacher turnover in Private secondary schools in Nakuru Sub County. The study was guided by the Herzberg’s motivation theory and Vroom’s Expectancy theory. Descriptive survey research design was used. Stratified sampling was used to select a total of 18 private secondary schools and purposive sampling was used to pick 116 teachers. Primary data was collected by administering pretested structured questionnaires to respondents and analyzed using descriptive and inferential statistical techniques. The findings indicate that working environment, organizational culture and leadership have no significant influence on turnover of teachers in private secondary schools in Nakuru Sub County. Remuneration was found to have significant influence on teacher turnover in private secondary schools in Nakuru Sub County. The study recommended that Turnover rate should be monitored and considered important in policy formulation regarding Human Resource factors and organizational factors since it will help management in retaining their teachers. Rewards and any benefits should be awarded on merit and experience in order to help in retention. The salaries of teachers need to be increased, which will not only retain the present teachers but also attract teachers from other schools as well. Schools should identify those benefits which have more influence on teacher retention. Furthermore, Schools need to revisit their present benefits package to identify those benefits which are not useful in order to replace them. Schools must conduct “stay” and “exit” interviews to understand as to why teachers choose to leave. This information will help in understanding the reasons why teachers leave and mitigate on them
Financial Resource Allocation and e- Commerce Adoption Among SMEs in Kericho County –Kenya
No full textInformation and Communications Technology (ICT) and Electronic Commerce (e-commerce) offer benefits for a wide range of business processes.
The paper discusses effects of Financial Resource aspects such as Government funding, budgeting and expenditure within the firm, the firm’s financial resources, loans and grants on the levels of adoption and use of e-commerce strategies