Browsing by Author "Kerubo, Cyprine Omwenga"

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    Impact of Financial Literacy on Investment Decision-making among Secondary School Teachers Employed by the Teachers Service Commission in Nairobi City County – Kenya
    (IJARKE, 2024-07) Kerubo, Cyprine Omwenga; Kariuki, Grace
    Impact of Financial Literacy on Investment Decision-making among Secondary School Teachers Employed by the Teachers Service Commission in Nairobi City County – Kenya Kerubo, Cyprine Omwenga Kariuki, Grace In today's financial landscape, informed investment decisions are vital for individuals, particularly education professionals like teachers under the Teachers Service Commission (TSC), who make up 1.67% of Kenya's workforce. As of April 2021, TSC employed 318,000 teachers in primary and secondary schools, with secondary school teachers being a significant portion. These teachers require strong financial literacy to navigate investment options, assess risks, and plan for retirement, given their conservative investment tendencies towards low-risk options. A study focused on secondary school teachers in Nairobi City County found that financial knowledge, skills, and risk diversification significantly influence investment decisions. However, the relationship between financial literacy and investment decisions has been inconclusive. The study employed theoretical frameworks including Prospect Theory, Herding Behavior Theory, and Theory of Mental Accounting. The research used a descriptive research design, sampling 103 secondary school teachers, and collected data through questionnaires. Statistical analysis using SPSS revealed that financial knowledge, skills, and risk diversification positively impact investment decisions. The study recommended TSC implement comprehensive financial education programs, collaborate with financial experts, and develop targeted training programs to improve teachers' financial literacy and decision-making in investments.