1,720,956 research outputs found
Free Cash Flow and Short-term Debt of Firms Listed at the Nairobi Securities Exchange Kenya
No full textThe short-term debt account\u27s value is crucial in assessing the performance of the business. Free cash flow is the amount of money a business has left over after covering its cash outflows for operating costs and capital asset maintenance. If a company takes on more debt, it will have less free cash flow available for equity in the current year. Since the debt has been paid off and does not need to be repaid, this decrease is offset in the upcoming years by a rise in free cash flow to equity. The exact opposite occurs if the company takes on additional debt. The study was anchored on free cash flow theory and trade off theory. The study applied secondary data obtained from the firms from 2007-2011. Panel data was used to increase data observations. The data was initially analysed using pooled ordinary least squares (OLS) regression model. The result showed a positive and significant relationship between free cash flow and short term debt of firms. With this result, it is recommended that managers of listed firms on NSE should assess the company’s overall financial flexibility and short term debt needs to determine the optimal balance between free cash flow and short term debt as excessive reliance on free cash flow for short term debt repayment may increase vulnerability
Chief Executive Officer Characteristics and Firm Value: Evidence from Construction and Allied Firms Listed at the Nairobi Securities Exchange, Kenya
Get PDFThe construction sector is considered one of the key sectors driving the economic growth of Kenya. The paper therefore set out to investigate the effect of chief executive officer characteristics on firm value of construction and allied firms listed at the Nairobi Securities Exchange, Kenya. Agency theory and stakeholder theory were used to support the relationship between the research variables. Inferential statistics were based on panel regression analysis. It was established that chief executive officer nationality and age had a significant effect on the firm value of construction and allied firms listed at the Nairobi Securities Exchange, Kenya. It was concluded that chief executive officers of Kenyan origin and young chief executive officers are more effective in enhancing firm value. It was however recommended that non-Kenyan individuals with a good understanding of the Kenyan market can still be considered for the top position of companies. Through the international experience of non-Kenyan chief executive officers, foreign expertise can be introduced to local firms. Young chief executive officers should be considered by listed construction and allied firms to benefit from the aggression and resilience that come with young age. The appointment of young or younger chief executive officers should be done given capacity as well as educational qualifications
Financial Technology and Financial Inclusion of Small and Medium Enterprises in Kenya: Do Government Regulations Really Matter?
No full textThe study sought to evaluate the significance of government regulations on the relationship between financial technology and financial inclusion of Small and Medium Enterprises in Kenya. This study emanates from the Doctoral dissertation of the first author where the co-authors served as supervisors. Technology, Organization and Environment Theory and Financial Intermediation Theory were utilized. The study adopted explanatory research design. The top 100 Small Medium Enterprises in Kenya constitute the target population and the sample size was 200 based on purposive sampling technique and simple random sampling where two respondents were picked from each Small Medium Enterprises of interest. A response rate of 81.5 percent was achieved. The study used multiple regression analysis and it was established that government regulations had significant moderation effect on the relationship between financial technology and financial inclusion of small and medium enterprises in Kenya. The study recommends that the existing transaction limits should be reviewed in line with economic conditions of the country. Government should ensure that favorable lending rates are put in place so as to further enhance the level of financial inclusion of small and medium enterprises in Kenya. Government guidelines on screening of customers should be favorable to business owners and stringent requirements should be discouraged.
Keywords: Government Regulations, Financial Technology, Financial Inclusion, Small and Medium Enterprise
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Mobile Phone Technology, Agency Banking Services, Online Banking Services and Financial Inclusion of Small and Medium Enterprises in Kenya
No full textThe study sought to examine the effect of mobile phone technology, agency banking services and online banking services on financial inclusion of Small and Medium Enterprises in Kenya. This study originates from the Doctoral dissertation of the first author where the co-authors served as supervisors. Technology Acceptance Model and Asymmetric Information Theory were adopted. The study adopted explanatory research design. The top 100 Small Medium Enterprises in Kenya constitute the target population and the sample size was 200 based on purposive sampling technique and simple random sampling where two respondents were picked from each Small Medium Enterprises of interest. Multiple regression technique was used for the analysis of data. A response rate of 81.5 percent was achieved. Primary data was used which was collected using a questionnaire. The study used multiple regression analysis. It was established that mobile phone technology and agency banking services had insignificant effect on financial inclusion of small and medium enterprises in Kenya. The study found that online banking services had significant effect on financial inclusion of small and medium enterprises in Kenya. The study recommends that business managers should capitalize on the underlying benefits of online banking by fully utilizing and exploring its various services. Online banking services should be supported and enhanced by the government in view of its importance in fostering financial service accessibility which in turn improves financial inclusion. Further studies can evaluate the effect of mobile phone technology and agency banking services on financial inclusion of small and medium enterprises in Kenya based on a different methodology
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Dispelling the Myths Behind First-author Citation Counts
Get PDFWe conducted a full-scale evaluative citation analysis study of scholars in the XML research field to explore just how different from each other author rankings resulting from different citation counting methods actually are, and to demonstrate the capability of emerging data and tools on the Web in supporting more realistic citation counting methods. Our results contest some common arguments for the continued
use of first-author citation counts in the evaluation of scholars, such as high correlations between author rankings by first-author citation counts and other citation
counting methods, and high costs of using more realistic citation counting methods that are not well-supported by the ISI databases. It is argued that increasingly available digital full text research papers make it possible for citation analysis studies to go beyond what the ISI databases have directly supported and to employ more
sophisticated methods
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