Browsing by Author "Koori, Jeremiah"
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Item Board Structure and Profitability of Manufacturing and Allied Firms Listed at the Nairobi Securities Exchange, Kenya(The Strategic Journal of Business and Change Management, 2024) Githiomi, Purity; Koori, JeremiahThis survey ascertained how structure of the board affects financial performances of firms in manufacturing and allied industries listed on NSE. In particular, the study evaluated the influence of board size, gender composition and independence on financial performances of manufacturing companies registered on NSE, Kenya. Agency theory, stakeholder’s theory, institutional theory and dynamic capability theories served as theoretical reviews for the study. To achieve this, an explanatory method of design was used to select a target population sample of all eight (8) manufacturing and related firms listed at NSE Kenya. Census sampling was utilized to sample all eight (8) manufacturing and allied firms listed on NSE. Secondary data was utilized for the study. Diagnostic tests encompassing homoscedasticity, autocorrelation, multicollinearity, stationarity, and specification were applied on the panel data, obtained from firms' audited financial statements and financial reports from 2015-2022, was analyzed using panel multiple regression analysis, correlation analysis, and descriptive statistics (mean, standard deviation, and frequency). 0.05 significance level was applied as threshold for hypothesis testing. Outcomes unveiled in the study showed a significant positive effect of board independence on financial performance; board size yielded an insignificant negative effect on financial performance; board gender diversity uncovered an insignificant positive effect on financial performance; while a insignificant moderating effect of firm size on the relationship between board structure and financial performance within Kenyan manufacturing and allied firms listed on the NSE was revealed. The study recommended that the board independence should be strengthened to enhance the financial performance of the firms as this would allow for greater independence in decision of the board as it pertains to the financial performance of the studied firms in Kenya.Item Credit accessibility and performance of small scale farms in Taita Taveta County, Kenya(International Academic Journal of Economics and Finance, 2020) Mwanyika, Nelson Tole; Koori, JeremiahAgriculture is considered the backbone of the Kenyan economy since it contributes to approximately 25 percent of the gross domestic product. It earns a significant amount of foreign exchange since it provides for all food supplies in the country in addition to creating employment to almost 70 percent of the entire population in either a direct or an indirect manner. The study therefore focused on evaluating Agricultural credit as well as its effect on small scale farm production in Taita Taveta County. Its aim was to the effect of credit accessibility on performance of small scale farms in Taita Taveta County, Kenya. The specific objectives were to determine the loan pricing influence on small scale farms found in Taita Taveta County, to assess the impacts of loan repayment schedules on performance of small scale farming in Taita Taveta County, to evaluate the influence of record keeping on performance of small scale farming in Taita Taveta County, and to identify the impact of formal lending facilities availability on small scale farming performance in Taita Taveta County. In small scale production there are numerous challenges faced in small scale agriculture among them being lack of information as well as limited resources. In traditional or subsistence farming, there are no crop rotation practices since most of the farmers prefer mixed farming that entails same crop production in all the seasons which in turn leads to the buildup of pest and diseases. As a result, investigations needed to be done to identify the agricultural credit impact in ASAL areas since different regions suffer in different ways. In other words, this study is meant to assess the Agricultural credit and its influence on farms performance in Taita Taveta County, Kenya. The study was anchored on the trade- off theory of capital structure, the theory of Information Asymmetry, Adverse Selection Theory, the Pecking Order Theory, and the demand and Supply Theory. The study utilized descriptive review method. The research targeted 1101 small scale farms living in 4 sub counties across the county. Therefore, a 111 sample size made of small scale farms was used to represent the target population by the use of simple arbitrary sampling to provide for every member of the target population. The data was gathered by using a self-administered questionnaire, analyzed by use of descriptive statistics utilizing graphs and tables. SPSS was used to analyze data through a regression model.Item Financial Inclusion and Performance of Deposit Taking Savings and Credit Cooperative Societies in Meru County, Kenya(International Academic Journals, 2019) Ndegwa, Mercy Wanjiru; Koori, JeremiahIt has been widely acknowledged that financial exclusion is strongly related with poverty conditions in an economic system translating into poor financial performance among financial institutions. On the other hand, financial inclusion through agency banking, mobile money services and credit facilities act as alternative channels of revenue generation which improve performance of these institutions. Despite this, most Deposit Taking SACCOs seems not to have clearly understood the benefits that would accrue in consideration of financial inclusion. This is seen from the fact that majority of Deposit Taking SACCOs have concentrated their branch networks in urban centers which means that adults living in most rural areas do not access formal financial services at a cost-effective way. The main objective of the study was to determine the effect of financial inclusion on performance of Deposit Taking Deposit Taking SACCOs in Meru County. The study was guided by the following objectives; to determine the effect of financial literacy on performance of Deposit Taking SACCOs in Meru County, Kenya, to examine the effect of diversified credit facilities on performance of Deposit Taking SACCOs in Meru County, Kenya, to establish the effect of mobile money transfer services on performance of Deposit Taking Deposit Taking SACCOs in Meru County, Kenya and to investigate the effect of agency banking services on performance of Deposit Taking SACCOs in Meru County, Kenya. The study was supported by the following theories; technological acceptance model, financial intermediation theory and agency theory. The study adopted descriptive research design. The study targeted 186 staffs from the top management level of the 10 Deposit Taking SACCOs in Meru County. The staffs was drawn from the following departments; finance, marketing, operations and human resource. Since the population was small, a census was adopted. Data was collected using semi-structured self-administered questionnaires that will be administered through drop and pick later method. The data collected was analyzed using both descriptive and inferential statistics with the aid of SPSS. The study was important to the senior management team of the Deposit Taking SACCOs in Meru County, SASRA, the Central Bank of Kenya, future scholars and academicians. For the management of SACCOs, the study will offer recommendations on how best to improve on financial inclusion and thus increasing their performance. SASRA is a regulator of deposit taking Deposit Taking SACCOs in Kenya and thus it will rely on the findings of the study to formulate sound and effective policies that encourage financial inclusion and thus overall performance of the SACCO subsector. The study established that financial literacy services, diversified credit facilities, mobile money transfer services and agency banking services had a positive effect on the performance of DT SACCOs. It was concluded that the SACCOs had to a significant extent embraced financial inclusion which led to improved client base and financial resources management and substantially offered diverse credit facilities which had improved their income, volume of loans and variety. It was further concluded that most of the SACCOs have embraced mobile money transfer services and also agency banking services were to a high extent embraced by Deposit Taking SACCOs in Meru County and contributed significantly to financial inclusion and performance. The study recommends that the Deposit Taking SACCOs in Meru County need to enhance stakeholders in rolling out financial literacy programs to increase access and appreciation of the services.Item Financial Management Practices and Turnover Growth of Micro and Small Enterprises: A Case of Uwezo Fund in Kwale County, Kenya.(International Academic Journals, 2018) Mogaka, Moses Ogendi; Koori, JeremiahEmpirical attestation, economic evidences and industrialization practices have established the immense contributions of Micro and Small Enterprises (MSEs) in developed nations and the continuous acceleration of economic growth among developing countries. The government of Kenya had been increasing funding of small enterprises through escalation of Uwezo fund as was evidenced from annual budgetary allocations by the national treasury. Out of the Ksh.5.161 billion of Uwezo Fund that had been disbursed since the year 2013, nationally, ksh.91.6 million of the disbursement was channelled to Kwale County. Despite the disbursement, the turnover growth of MSEs in Kwale County had only been a mere 5 per cent. This is far much less than the expected turnover growth of 15 per cent given the huge investments by the fund. This study examined the effect of financial management practices on turnover growth of micro and small enterprises in Kwale County, Kenya. Specifically the study draws on financing decisions, investment decisions, working capital management decisions, profit distribution decisions and how they influence turnover growth of such MSEs. A descriptive survey method of research was employed in conducting the study. The study population were the 911 registered MSEs that have received a financing facility from Uwezo Fund in Kwale County. Stratified random sampling was applied to choose the sample size which translated to 270 MSEs managers. Structured questionnaire was used to gather data from the respondents. The data obtained was analysed for ANOVA, regression analysis, and descriptive statistics. SPSS computer software was utilised in data coding and analysis. The results indicate that financing decisions had a moderate significant positive correlation with turnover growth of MSEs. Investment decisions had a fairly strong and significant positive correlation with turnover growth. Working capital management had a strong positive correlation with turnover growth of MSEs in Kwale County while profit distribution had a week positive correlation with turnover growth of MSEs in Kwale CountyItem Intervening Effect of Corporate Performance on the Relationship between Investment Incentives and Effective Corporate Tax Rate for Manufacturing Firms in Kenya(The Strategic Journal of Business & Change Management, 2024-01) Nganyi, Silas Muyela; Koori, Jeremiah; Abdul, FaridaEffective corporate tax rate remain a subject of interest to firms, policy makers and researchers. It measures real level of tax burden imposed by national tax system at firm level. The main problem is how to reduce it at firm level. To address this, government across the world implement various investment incentive framework aimed at lowering effecting corporate tax rate. The intention of low effective corporate tax rate is to influence investments, facilitate capital formation, increase productivity and grow firms. However, effective corporate tax rate in Kenya is still a problem averaging 31.3 percent for the last 10 years and has not been declining towards zero as recommended by the World Bank. Such high effective corporate tax rate militates against desired competitive corporate environment for the manufacturing sector. The manufacturing sector in Kenya has deteriorated to 7.4 percent contribution to gross domestic product which is less than 15 percent as envisaged in Kenya Vision 2030. This undesirable phenomenon therefore prompted the design of this study. The objective of the study was to determine the intervening effect of corporate performance on the relationship between investment incentives and effective corporate tax rate for manufacturing firms in Kenya. The theories underpinning this study were optimal corporate taxation, political power and neoclassical investment. The study adopted positivist philosophy and longitudinal research design. The target population was 1,092 firms registered with Kenya Association of Manufacturers. Stratified random sample of 278 firms provided secondary data for the period 2010 to 2020. Descriptive and inferential statistics were generated using panel data regression analysis. The intervening model was analysed at significance level of 5 percent. The findings established that corporate performance had intervening effect on the relationship between investment incentives and effective corporate tax rate. It was recommended that both the National Treasury and manufacturing firms should have a robust financial framework for monitoring and evaluation of how effective corporate tax rate responds to investment incentives and corporate performance. The study added to finance knowledge that fiscal policy affects corporate operations.Item Investment Incentives and Effective Corporate Tax Rate for Manufacturing Firms in Kenya(International Journal of Economics and Finance, 2024-01-10) Nganyi, Silas Muyela; Koori, Jeremiah; Abdul, FaridaEffective corporate tax rate is a finance subject of interest to firms, policy makers and researchers. It measures level of tax burden at firm level. Thus, governments implement various investment incentives to influence effective corporate tax rate. The effective corporate tax rate in Kenya is still a problem averaging 31.3 percent for the last 10 years. Such high effective corporate tax rate militates against desired competitive corporate environment for the manufacturing sector. In the last ten years, the manufacturing sector has deteriorated to 7.4 percent contribution to gross domestic product which is less than 15 percent as envisaged in Kenya Vision 2030. This undesirable phenomenon prompted design of this study. The objective of the study was to determine the effect of investment incentives on effective corporate tax rate. The study adopted positivist philosophy and longitudinal research design. A sample of 278 firms provided secondary data for the period 2010 to 2020. Descriptive and inferential statistics were conducted using panel data regression. The study established that investment incentives are statistically significant predictors of effective corporate tax rate for manufacturing firms in Kenya. The study recommends that public policy makers should design appropriate profit based, capital investment and custom duty incentives as part of fiscal policy instruments to grow firms involved in manufacturing. The study has added to finance knowledge that fiscal policy affects corporate operations. However, there is need for further investigation on other possible investment incentives that were not covered in this study that influence effective corporate tax.Item Investment Incentives and Effective Corporate Tax Rate for Manufacturing Firms in Kenya(Canadian Center of Science and Education, 2024-01) Nganyi, Silas Muyela; Koori, Jeremiah; Abdul, FaridaEffective corporate tax rate is a finance subject of interest to firms, policy makers and researchers. It measures level of tax burden at firm level. Thus, governments implement various investment incentives to influence effective corporate tax rate. The effective corporate tax rate in Kenya is still a problem averaging 31.3 percent for the last 10 years. Such high effective corporate tax rate militates against desired competitive corporate environment for the manufacturing sector. In the last ten years, the manufacturing sector has deteriorated to 7.4 percent contribution to gross domestic product which is less than 15 percent as envisaged in Kenya Vision 2030. This undesirable phenomenon prompted design of this study. The objective of the study was to determine the effect of investment incentives on effective corporate tax rate. The study adopted positivist philosophy and longitudinal research design. A sample of 278 firms provided secondary data for the period 2010 to 2020. Descriptive and inferential statistics were conducted using panel data regression. The study established that investment incentives are statistically significant predictors of effective corporate tax rate for manufacturing firms in Kenya. The study recommends that public policy makers should design appropriate profit based, capital investment and custom duty incentives as part of fiscal policy instruments to grow firms involved in manufacturing. The study has added to finance knowledge that fiscal policy affects corporate operations. However, there is need for further investigation on other possible investment incentives that were not covered in this study that influence effective corporate tax.Item Liquidity Management and Financial Performance of Microfinance Banks in Nairobi City County, Kenya(International Academic Journals, 2019) Mwambui, Maureen Wayua; Koori, JeremiahMicrofinance banks offer both credit and deposit facilities to its clients thus liquidity management is important as it evaluates the ability of a firm to be able to convert its assets to cash easily making the organization to have ready funds to facilitate its operations in a perpertual basis. In general there is a decline in the percentage of return on asset from 2% in 2014, 1% in 2015 and 0.5% in 2016 which portrays that the microfinance banks are not efficient in utilizing their resources and at the end of the year 2016 out of thirteen microfinance banks five made profits while eight made losses. The study investigated the effect of liquidity management and financial performance of microfinance banks in Nairobi City County for the period 2011 to 2017. The study dependent variable is financial performance and the independent variables; capital adequacy, loan repayment, cash management and moderator inflation. The target population was all thirteen microfinance banks in Nairobi City County. The study used descriptive survey research design on both primary data and secondary through issuing structured questionnaires on independent variables and audited statements for the dependent variable. The data collected was steadily prepared, edited to achieve accuracy, and then inputed to SPSS Version 22.0 for analysis. The findings for capital adequacy on financial performance of MFBs indicated a weak positive relationship that was not significant while loan repayments and cash management had a significant positive relationship with financial performance of MFBs. The study recommended that MFBs should maintain quality capital base that can safeguard them against future risk exposures. Secondly, adoption of efficient loan management policies to safeguard MFBs against credit risks that can have negative financial performance results. Lastly, MFBs should adopt efficient cash management policies for improved financial performance.Item Public Sector Accounting Standards and Financial Reporting in Central Region County Governments, Kenya(International Academic Journals, 2018) Nderitu, Anthony George; Koori, JeremiahOver the years, through the Institute of Certified Public Accountants of Kenya, practitioners have championed the adoption of Public sector accounting standard (IPSAS) in Kenya. However, much of this took place in boardrooms, conferences and seminars. It was not until 2014 when treasury, the auditor general and Ernest and Young teamed up to steer the IPSAS adoption in the central government, that the implementation actually commenced. This research assessed the impact of implementation of International Public Sector Accounting Standards on financial reporting in the public sector in Kenya and more specifically the status of implementation of IPSAS on the basis of accountability, comparability and reliability of financial reporting in county governments in the central region of Kenya. This study was premised on a theoretical foundation based on the organizational theory of the firm, stakeholder’s theory and positive accounting theory. The general objective of this study was to establish the effect of public sector accounting standards on financial reporting of county governments in the central region of Kenya. The specific objectives were: to establish how preparation of public sector financial information affected financial reporting in the central region county governments in Kenya, to examine how the disclosure of public sector financial information affected financial reporting in the central region county governments in Kenya, to determine the upshot of presentation of budget information in financial statements on financial reporting in the central region county governments in Kenya and further to explore the relevance of service concession agreements on financial reporting in the central region county governments in Kenya. The study targeted lower, middle and top level managers in the central region county governments in Kenya. The study employed a descriptive research design and the researcher relied on both primary and secondary sources of data. The researcher sought permission from the public relations officers of county governments, before embarking on collection of primary data from respondents and secondary data from the records of the accounting departments. A questionnaire designed with both open and closed structured questions being employed to collect data from 266 respondents selected using the stratified random sampling method. The data collected was analyzed using Statistical Package of Social Sciences (SPSS). Descriptive and inferential methods of data analysis were used to interpret the data. The analyzed data was presented using charts, tables, graphs, frequencies and percentages. It was discovered that the counties have limited access to financial information sources which can enlighten the stakeholders and the general public on how their funds are being utilized. The information contained in financial reports of the county governments of Kenya is very useful in terms of investment decision making and monitoring. The study realized that the financial reporting standardization has enhanced budget information reporting in the public sector in Kenya. IPSASB’s standardization of presentation of financial statements was found to have a significant contribution to accountability and transparency enhancement, reducing complexity of current financial reporting and improving decision usefulness of financial information to the stakeholders. The study concluded that IPSASB’s standardization of service concession agreements has improved financial reporting among the devolved units in Kenya. Further it was realized that the PFM Act has greatly improved financial reporting in the public sector and it is crucial in management of public funds and transparency. The study recommends public participation in financial management, disclosure and proper presentation of financial information that is easily understood by the consumers of the information.Item Technological Banking Innovations and Financial Inclusion by Commercial Banks in Nairobi County, Kenya(International Journal of Current Aspects in Finance, Banking and Accounting,, 2020) Wanjiku, Njoki Grace; Koori, Jeremiah; Atheru, GeraldFinancial inclusion is the provision of financial services at affordable costs to sections of underprivileged and low-income segments of society. Failure to constantly redesign strategies that help the commercial banks adapt to changing business environment may lead to a strategic mismatch between what they offer and what markets demands. The study objective was to assess technological banking innovations and financial inclusion by commercial banks in Nairobi County Kenya. The study was anchored on the theory of financial intermediation, diffusion of innovation theory and Silber’s Constraint theory of Innovation. A descriptive research design and a positivism philosophy were used because the conceptual hypotheses were drawn from existing theories and identified knowledge gaps as founded on the research design. Multiple regression model was employed in this study. For the purpose of this investigation, the target population included all the 42 registered commercial banks operating in Nairobi County, Kenya in the year 2016. Purposive sampling technique was used to determine the sample size. Thirteen (13) selected banks that had successfully implemented technological banking innovations in Nairobi County were purposively sampled for the study. Both primary and secondary data was used in this study. Primary data was collected using questionnaires. Secondary data on mobile bank transactions and mobile phone subscriptions in the banks for the period between 2011 and 2016 was obtained from Central Bank of Kenya, Kenya National Bureau of Statistics and the Banking survey manuals. Questionnaires were administered to randomly selected respondents. The confirmatory test for multicollinearity was done using the Variance Inflation Factor. Data was analyzed using correlation, Goodness of Fit, analysis of variance, F statistic/significance of the study variables and regression of coefficients which were used to draw inferences on the relationship between the study variables. Data was presented using tables and figures. Results of the study indicated that the predictor variables; mobile banking, agency banking, electronic banking outlets and internet banking have an influence on financial inclusion. Correlation results also indicated that mobile banking, agency banking, electronic banking outlets and internet banking were positively associated with financial inclusion. Additionally, the regression findings indicated that mobile banking, agency banking and electronic banking outlets were statistically significant predictors of financial inclusion. However, Internet banking had a significance level of 0.586 which is higher than the conventional threshold of 0.05 which rendered the variable as statistically insignificant in prediction of financial inclusion. The findings concluded that mobile banking, agency banking, electronic banking outlets and internet banking have an influence on financial inclusion with the technological innovations being well adopted by the customers in the respective banks .The study recommended that the banks’ management should make use of these research findings to come up with innovative approaches of improving financial inclusion while maintaining the existing ones in the conduct of their business so as reach more clients with their products and services.Item The Effect of Online Tax Payments on Tax Compliance among Large Taxpayers in the North-Rift Region, Kenya(Stratford Peer Reviewed Journals and Book Publishing (Journal of Finance and Accounting), 2024-09-30) Tarus, Mark Kiplimo; Koori, JeremiahTax compliance is a key emphasis area of the Kenya Revue Authority in a bid to maximise revenue collection to finance government services. However, complex processes and ineffective methods of revenue generation continue to mar tax compliance especially among the large taxpayers in the North Rift. This study sought to investigate the effect of online tax payments on tax compliance among large taxpayers in the North-Rift region, Kenya. The study was underpinned by the general systems theory. A descriptive research design was adopted by the study to guide data collection and analysis procedures. The study’s target population was 200 large taxpayers operating in North rift region, Kenya from which a random sample of 133 participants was selected with the use of Yamane’s (1967) formula. The study utilized structured questionnaires as a tool for data collection from 133 financial managers purposively selected from the 133 randomly selected large taxpayer companies in North rift region, Kenya. Data collected was entered into the Statistical Package for Social Sciences (SPSS) and quantitatively analysed using descriptive statistical techniques namely mean, percentages, and standard deviations, and inferential statistical analyses techniques namely correlation analysis and multinomial logistic regression analysis. The findings were presented in figures and tables. The study established significant and positive influence of online tax payments (Coeff=0.108, Sig=0.032). The study’s findings are capable of being used to inform research, revenue collection practice, and academic/research.