Kenyatta University Repository
Kenyatta University Institutional Repository is a digital archive that collects, preserves and disseminates scholarly outputs of the Institution
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Prudential Requirements and Financial Performance of Commercial Banks Listed at the Nairobi Securities Exchange, Kenya
(Kenyatta University, 2025-09) Musili, Johnstone Muimi
Commercial banks have a vital and varied function they perform. In Kenya, commercial banks
are essential to industrialization and job creation as well as the financial development of the
majority of market participants. Nonetheless, commercial banks' financial performance has
been deteriorating over time. For example, profitability fell to Ksh.112.1 billion in 2020 from
Ksh.159.1 billion in the prior financial period—a 29.5% negative shift. The conceptual linkage
between commercial banks' financial performance and regulatory standards has portrayed
dissimilar debate amongst scholars over the years. This study focused on the precise goals
listed; exploring the influence of liquidity, capital adequacy, and asset management on the
Nairobi Securities Exchange's (NSE) listing commercial banks' operating results. The
investigation was anchored on Keynes liquidity preference, the capital buffer and the liabilities
management theories. The investigation utilized causal-effect research approach. The target
audience comprise of eleven (11) listed commercial banks in NSE, Kenya whereby census
approach was used therein. The study analysis was based on descriptive as well as panel
regression analysis.Prior to drawing investigational deductions and conclusions, diagnostic
testing was conducted. The outcome was presented using tables and figures. Ethical issues
were given pre-eminence where a permit from Kenyatta University graduate school was sought
and NACOSTI in that order. Findings unveiled that liquidity exhibited a statistically significant
direct influence on financial performance; capital adequacy indeed exerts a significant and
positive influence on financial performance; and asset management depicted negative
influence on financial performance, which was statistically significant. The survey advices that
the banks should focus on other risk management strategies, such as credit risk, operational
risk, and market risk to enhance their performance financially. Implementing robust risk
management frameworks and diversifying risk exposure would help ensure overall financial
stability and resilience
Tathmini ya Maigizo ya Wahusika Walemavu Katika Kipindi cha Sultana Kwenye Runinga ya Citizen Nchini Kenya
(Kenyatta University, 2025-09) Getate, Caroline Kemunto; King'ei, Kitula
Osore, Miriam
Kipindi cha Sultana kilipeperushwa kwenye runinga ya Citizen nchini Kenya kuanzia
Machi, 2022 hadi Julai, 2023. Kipindi hicho kilihusisha wahusika mbalimbali wakiwemo
walemavu. Tafiti za awali zimechunguza usawiri wa wahusika walemavu katika njia hasi.
Utafiti huu ulilenga kuziba pengo hilo kwa kuchunguza usawiri wa wahusika walemavu
kwenye vipindi vya televisheni kwa njia chanya. Hivyo basi, utafiti huu ulilenga
kuchunguza maigizo ya wahusika walemavu kwenye kipindi hicho. Suala la utafiti
lilikuwa kutathmini maigizo ya wahusika walemavu katika kipindi cha Sultana katika
runinga ya Citizen nchini Kenya. Malengo ya utafiti huu yalikuwa; kujadili maudhui
yanayowasilishwa na wahusika walemavu katika kipindi cha Sultana kwenye runinga ya
Citizen, pili, kubainisha sifa za wahusika walemavu katika kipindi cha Sultana kwenye
runinga ya Citizen na kufafanua mbinu za maigizo zinazotumika na wahusika walemavu
katika kipindi cha Sultana kwenye runinga ya Citizen. Utafiti huu uliongozwa na nadharia
ya Maigizo (Turner, 1969) inayosisitiza umuhimu wa kudhihirisha mitagusano ya
wanajamii kwenye maisha yao halisi kupitia matendo yao kwenye jukwaa. Aidha,
nadharia hii inaonyesha manufaa ya hadhira katika kuchunguza vitendo vya waigizaji
kwenye jukwaa. Utafiti huu ulifanywa maktabani na nyanjani. Maktabani mtafiti
alidurusu vitabu, majarida, tasnifu na miswada mbalimbali kuhusu uigizaji, mbinu za
utafiti na nadharia ya Maigizo. Utafiti wa nyanjani ulihusu ukusanyaji wa data kwa
kuhusisha mahojiano na kurekodi. Vifaa vya utafiti vilivyotumiwa ni simu ya rununu,
tarakilishi na mwongozo wa mahojiano. Jumuiya ya utafiti ilikua waigizaji walemavu wa
viungo na wa tabia wa kipindi cha Sultana cha runinga ya Citizen. Sampuli ya utafiti
iliteuliwa kimaksudi ili mtafiti aweze kupata data ya malengo ya utafiti. Data ilikusanywa
kwa kutazama, kusikiliza na kunukuu majibu ya maswali kutoka kipindi kiteule. Data
ilichanganuliwa kwa njia ya maelezo kwa kuzingatia nadharia ya Maigizo, maswali na
malengo ya utafiti. Matokeo ya utafiti yaliwasilishwa kimaelezo. Utafiti ulibaini kuwa
wahusika walemavu wa viungo na wa tabia wanawasilisha maudhui mbalimbali.
Wahusika walemavu wanawasilisha maudhui ya bidii, mapenzi, ujasiri na unyanyapaa
ilhali wale wa tabia wanawasilisha maudhui ya ukatili, mauaji, tamaa na utabaka. Utafiti
pia umeonyesha kuwa wahusika walemavu wana sifa mbalimbali wanazotumia
kuwasilisha maudhui. Wahusika walemavu wa viungo wanadhihirisha kuwa na
ukakamavu, hasira, ubinafsi, upweke, uvumilivu na hekima ilhali wale wa tabia
wanadhihirisha kuwa na taasubi ya kiume, ukatili, udanganyifu, tamaa, ukaidi na
uchochezi. Aidha, mbinu mbalimbali zilitumiwa na wahusika walemavu. Mbinu hizi ni
pamoja na kufananisha, ishara za mwili, mazungumzo na hisia na mielekeo ya wahusika.
Utafiti huu utasaidia kuongeza data muhimu katika taaluma ya fasihi. Pia, utawafaa
watafiti watakaotumia nadharia ya Maigizo kwa kurejelea mihimili yake ambayo mtafiti
amejadili kwa kina.
Determination of an Absorption-Based Revenue Sharing Formula and Its Implications on Corruption Perception in Kenya
(Kenyatta University, 2025-11) Waweru, Misheck Njihia
Kenya's devolved governance system faces systematic under-utilization of allocated resources,
with county governments achieving only 16% absorption of development budgets and
accumulating Kes 180.52 billion in pending bills, indicating fundamental misalignment between
current revenue-sharing formulas and county absorption capacities that has persisted across three
formula generations since 2013. The study aimed to develop an absorption-based revenue-sharing
formula incorporating all devolved functions, quantify excess revenue created by existing
allocation mechanisms, and examine the relationship between excess allocations and county
corruption perceptions. Using panel data analysis for all 47 counties from FY 2013/14 to 2020/21,
the research employed constrained regression methodology anchored on Second-Generation Fiscal
Federalism Theory and Absorption Capacity Theory, measuring county capacity through
expenditure patterns across eight devolved functions with correlation analysis examining
governance implications. For the first objective, the empirically-derived absorption-based formula
identified water services as the most critical determinant (coefficient = 29.12, p < 0.001), followed
by youth services (coefficient = 15.40, p < 0.001) and health services (coefficient = 13.73, p <
0.001), with education (coefficient = 10.75, p < 0.01), trade development (coefficient = 9.33, p <
0.05), environmental conservation (coefficient = 7.38, p < 0.05), agriculture (coefficient = 7.26, p
= 0.065), and housing (coefficient = 7.03, p = 0.09) also contributing significantly. For the second
objective, analysis revealed that 32 counties received KES 60.638 billion above their demonstrated
absorption capacity, representing 25% of total allocations, with individual excess ranging from
KES 59.87 million (Bomet) to KES 4,307.25 million (Wajir), compared to projected sharable
revenue of KES 178 billion versus actual allocations of KES 238.65 billion. For the third objective,
correlation analysis showed a weak negative relationship (-12.46%, p < 0.1) between excess
revenue and corruption perceptions, suggesting governance quality moderates resource-corruption
dynamics more than absolute resource levels. The study concludes that current allocation
mechanisms systematically create resource misalignments representing fiscal inefficiency rather
than temporary capacity constraints, with absorption-based formulas offering superior efficiency
by aligning incentives with demonstrated capacity across all functional areas. The Commission on
Revenue Allocation should adopt the empirically-derived absorption-based formula through
phased three-year implementation, establish comprehensive county capacity building programs
targeting water services, youth development, and health systems as priority areas, and implement
Information Technology-Based Platforms Adoption on Farmgate Prices and Production among Vegetable Farmers in Selected Counties in Kenya
(Kenyatta University, 2025-12) Kasera,Stephen Oluoch
Information Communication Technology platforms, such as mobile apps and online
marketplaces, play a crucial role in improving agricultural production and marketing of produce.
According to the basic Agricultural survey by the Kenya National Bureau of Statistics,
approximately 45% of smallholder farmers in Kenya used Information Communication
Technology tools in agriculture in 2022, reflecting an 8% increase from previous years. This
growth is attributed to government initiatives to promote technology across sectors and the
emergence of new platform providers fostering healthy competition. However, despite this
growth, the impact of these platforms on vegetable production levels and prices remains
underexplored. This study examined how adopting Information Communication Technology
platforms affects prices and production among vegetable farmers in the counties of Kiambu,
Makueni, and Nakuru in Kenya. The analysis used panel data with 7,500 observations collected
from 3,750 vegetable farmers across two seasons: 2023 (before intervention) and 2024 (after
intervention). Key variables included farmgate prices, production quantities, farm size, education
level, input costs, market distance, and access to government subsidies. Farmers were divided
into treatment and control groups based on platform usage. The study applied a Difference-in
Differences approach, revealing that adopting information communication technology was
significantly linked to higher farmgate prices. Regression analysis showed that using ICT-based
platforms increased farmgate prices by Ksh.6.40 per kilogram. The Difference-in-Differences
results also confirmed a causal effect, with the Average Treatment Effect on the Treated showing
a statistically significant increase of KSh.3.20. Regarding production levels, findings indicated
that platform adoption led to a notable increase in output, with adopters producing 675 kilograms
more than non-adopters. The Average Treatment Effect on the Treated from Difference-in
Differences analysis supported this, showing a statistically significant production rise of 410
kilograms attributable to adoption at the 95% confidence level. The study concludes that
adopting farm-based information technology platforms has a positive and significant impact on
both farmgate prices and production levels among vegetable farmers. These findings provide
empirical support for the hypothesis that digital tools improve farmers' market engagement and
production efficiency. The policy implications from the study, from the evidence that information
communication technology based- platforms positively affect both farmgate prices and
production, suggest that agricultural digitalization can play a central role in national strategies to
improve rural incomes and food security and policymakers should recognize that without a
foundational understanding of how to interpret and apply digital information, the benefits of
information communication technology platforms tools may not be fully realized
Capital Structure and Financial Performance of Kenya Tea Development Agency Processing Factories in Nyeri County, Kenya
(Kenyatta University, 2025-11) Gichuki, Shelmith Wanjira
Globally, save for China, the tea industry has faced a significant market decline. The
general performance of the Kenyan tea industry posted mixed results, but more often
demonstrated a declining trajectory. The financial performance of the tea factories, as
shown by profitability metrics and dividend payout ratios, indicated a decline. Group
financial results put the dividend payout ratio at 14% in 2020, 12% in 2021, 10.5% in
2022, and 11% in 2023. Prudent and well-researched financing decisions have the
potential of optimizing the benefits accruing from consumption of funds while
minimizing the risks involved. The study sought to establish the effect of capital structure
on the financial performance of tea factories in Nyeri County, Kenya. Specifically, the
study aimed to determine the effect of long-term debt, short-term debt, internal equity,
and external equity on the financial performance of Kenya Tea Development Authority
managed tea factories. Financial performance was assessed using the dividend payout
ratio, an insightful profitability metric. The study used a causal research design. The study
employed the census method, which involved collecting data on all six Kenya Tea
Development Authority-managed tea factories in Nyeri County. The study relied on
secondary data collected from all six tea factories for the period 2013 to 2022, making a
total of 60 observations. The data was quantitative in nature. Panel regression analysis
was used for the time series data. Descriptive and inferential statistics were used for
analysis. The descriptive statistics included means and standard deviations. Diagnostic
tests were carried out to test the assumptions in the study. The researcher was guided by
Kenyatta University ethical codes when collecting, analyzing, and citing the literature.
The findings indicated that short-term debt had a positive coefficient of 0.076 with a
highly significant p-value of 0.001, suggesting that increasing short-term debt positively
affects firm performance, likely due to its flexibility and lower interest costs. Internal
equity also had a positive and significant effect, with a coefficient of 0.081 and a p-value
of 0.006, highlighting that retained earnings are a valuable financing source, supporting
stability without increasing debt obligations. External equity showed a positive effect as
well, with a coefficient of 0.054 and a p-value of 0.034, implying that funding from
external investors contributes to firm performance by providing capital without
immediate repayment, thus enhancing reinvestment capabilities. Conversely, long-term
debt presented a positive but statistically insignificant coefficient of 0.064 (p = 0.287),
indicating that it does not play a substantial role in enhancing performance, potentially
due to higher interest costs and repayment terms that may counterbalance its benefits.
These results underscore that short-term debt, internal equity, and external equity are
effective financing sources for Kenyan tea factories, while long-term debt may be less
critical, reflecting the industry’s preference for financing methods that support liquidity
and flexible growth.