MST-Department of Accounting and Finance
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Item Cost Management Strategies and Financial Performance of Kapkoros Tea Factory County, Kenya in Bomet(Kenyatta University, 2023-11) Chelangat, AnnahBuilding internal capacity, condueting energy audits, (raining energy management teams, facilitation of new technology in tea factories has been some of the sgveral interventions made to decrease the cost of production and ensure more money in the pockets of tea growers, However, a decline in tea prices, bonuses and lr.lcrcas‘c in cost of production proven to be a challenge. Therefore, this study sought to investigate the effect of cost management strategies on the financial performance of Kapkoros Tea Factory in Bomet County, Kenya. The specific objectives of the study were to examine the effect of inventory cost management, labor cost management and overhead cost management on the financial performance of Kapkoros Tea Factory in Bomet Coupty, Kenya. The study was guided by the balance Scorecard model, theory of constraints population and lean inventory theory. The study adopted descriptive research design. The target respondents was Kapkoros Tea Factory in Bomet County, Kenya. The total number of was 350 respondents who were employees in the marketing, production, personnel and finance departments of the factory. Respondents in this study were management found that inventory have cost management, labor cost management and indirect cost Capukoros tea factories, a significant positive impact on the financial performance of that inventory Regarding inventory cost management, the study concluded optimal inventory cost to management increases accuracy by ensuring that factories have fulfill orders. When it comes to managing labor costs, the studyItem Financial Strategies and Sustainability of Government Revolving Funds in Nairobi County, Kenya(Kenyatta University, 2024-07) Mutisya, NicholasSustainability issues areincreasingly gaining attention within the financial sector. This study aims to establish theeflect of financial strategics on sustainability of government revolving funds in Kenya. The study looked into the.cffeet of financial resource utilization, financial risk management, performance reporting. framework and internal control system/financial controls on sustainability of government revolving. funds in Kenya. The study was underpinned on the.accountability. theory and social learning theory. The study adopted an explanatory cross-sectional. rescarch. design. The. target population comprised of the. management of government revolving funds that was, the-top management, middle level management and low-level management. The sample was calculated from the target population using stratified sampling method. Thestudy.used semi-structured questionnaires to collect primary data, Descriptive data collected was presented using frequency. tables, percentages, mean and standard deviation to. establish the interrelationship. between variables. The qualitative. data from the.open-ended questions were-analyzed using.content analysis. Multiple. linear. regression was employed to establish the: link between the independent and dependent variable. The.findings were presented using tables. The study foundthat budget level management wasfoundtoinfluencethe sustainability of government revolving funds in Kenya to. a very. great extent. The research. also established that risk appraisal/assessment and risk. identification affect the sustainability. of government revolving funds inKenyato.a great extent. Therescarch also found that transparency.index affects thesustainability.of government revolving funds inKenyatoalow.extent. The study. also found that monitoring activities and information and communication affect sustainability. of government revolving funds in Kenya to a moderate. extent. The study concluded that financial. resource utilization had the. greatest effect on sustainability: of government revolving. funds. in Kenya, followed by. internal. control. system/financial conirols, then performance reporting framework while financial risk. management had the. least effect onthe.sustainability.ot:government revolving fundsin Kenya. The.government revolving funds organization management systems should be strengthened to facilitate-upto-date loan. repayment statements. to. loanees follow-up and take. action carly. in case. of. defaults. The study.also recommends that the. partners to.the. fund need to-be-encouraged by the.county. government to.share.as. much knowledge as possible to these: businesses so. that they. can fully. commercialize- on the knowledge given. The study recommends that the. revolving funds. should manage. their risks through establishing financial risks assessment framework, thiswillenable themto.address any anticipated risks as they.arise. Thereisneed alsotoimplementing quality management systems.Item Audit Committee Characteristics and Quality Of Financial Reporting In State Corporations in Kenya(Kenyatta University, 2023-11) Ojuwa, Lilian NabwireAbstractItem Micro-Credit Loans and Financial Performance of Micro, Small and Medium Enterprises in Mombasa County, Kenya(Kenyatta University, 2022-05) Mokua, Stephen OngatiElfifillfsF’cll‘:;’n":];’l“:"olr“cll10lloll in present day knowledge and expertise development therefore challglmes et fowett con(:jm.lc deve!opmem. Despite that, MSME‘S have faced !remendous ity - lly an mlemat'mnally. The' most dom.lnatmg challenge being lack of ‘ ess to credit; basically due to high cost of intermediation thus they cannot fund their expansion because of credit inaccessibility, however access to credit had been pointed as a key component for.MSME’s uninterrupted operation as well as financial performance. The research study objective was to establish the effect of micro-credit loan on financial perfonnanAce of MSMEs in the county of Mombasa, Kenya. The research study was directed by fol!owmg specific objectives: to establish how access to micro-credit loan affected the financial performance; establish the effect of micro credit interest rate on financial performance and to identify the effect of repayment period on performance of MSMEs in Mombasa County, Kenya. The study was supported by three theories; trade rationing theory, trade off theory and resource based theory of performance. The research study adopted descriptive research design with a target population of 2590 licensed MSMEs in Mombasa County. The study adopted a stratified random sampling. Sample size of 36 firms in Mombasa County was obtained. The researcher targeted one respondent from each sampled firm and 35 respondents responded out of 36 sampled. Primary data was gathered from respondents after administering of questionnaires. SPSS version 22.0 software was used in data analysis. Multiple regression model, Correlation and ANOVA were used to determine the strength of the association between micro-credit loans and financial performance of MSMESs. Tables and figures in addition to written interpretation were used to present Data. The study revealed that Increase in Interest rate for Micro credit loans negatively impacts financial performance of MSMEs. Secondly, ease in access to credit, favorably impacls the financial performance of MSMESs where as inadequate access to crec!it adversely impacts the financial performance of MSMEs. Finally, Inflexible repayment period unfavorably impacts the financial performance of MSMEs because of overstretched ca.sh outflows. The study clearly indicated that interest rate, access to credit and repayment pe,nod h.ad a significant and strong positive correlation on financial performance for MSME’s businesses. The study recommended that administrators of micro finance banks should consider leniency in access d. Further, the government should enact laws and i ible repayment perio : of ardit a0 Eo e ot d other incidental fees for MSMEs loans. This would i hat regulate interest rates an ' E T M ; ncrease financial performance. The study H v P )by 1 MSMEs to take up loans and Ihcrc ‘ . tudy lfr;g:zlrmr‘z:commcndcd that financial institutions and other key players in financial sectors facili 5S - ilities by coming up with policies that are favorable ] F casy access to credit facilities by g . ‘ Shou‘gr\zi‘;fll“l;:llc(;c:)nc)llusion from the rescarch study Micro-credit loans had a considerable - Mé uc;nic on the financial Performance of MSMEs in Mombasa County, KeItem Internal Audit Practices and Financial Performance of Nairobi City County Government, Kenya(Kenyatta University, 2023-11) Chiuri, Murage AndrewAbstractItem Working Capital Management and Financial Performance of Small and Medium Enterprises in Wajir County, Kenya(Kenyatta University, 2023-06) Abdi, Mohamud AbdilleAbstractItem Foreign Direct Investment and Financial Performance of Manufacturing Firms Registered with Kenya Association of Manufacturers(Kenyatta University, 2022-10) Abdullahi, Isse FarahManufacturing firms in Kenya have been marred with unprecedented losses even despite government concerted efforts to attract the inflows of foreign direct investors in the manufacturing sector. The worst-hit include: Mumias Sugar Company that recorded a net loss for the periods of 2017 and 2018, East African Portland Cement that also posted net loss for the financial year 2019, Nzoia Sugar Ltd, Sony and Chemelil both recorded losses in the financial year 2014/15. Therefore, it is on this grounds that this research sought to establish the relationship that exist between foreign direct investment and financial performance of manufacturing firms that are registered by Kenya Association of Manufacturers. More specifically, this study sought to determine the effect of foreign equity shareholding, foreign board membership and foreign technological flow on financial performance of manufacturing firms that are registered with Kenya Association of Manufacturers while considering the moderating effect of political risk. The study was informed by the endogenous growth theory, resource view, agency theory and the modern portfolio theory. It was also anchored on pragmatic philosophy. The study used both correlational cross-section survey design targeting firms in the manufacturing sector that are registered by Kenya Association of Manufacturers. This study covered the data obtained from 2017 to 2021 because it was the most current and it was likely that secondary data would easily be obtained across the same. A census was conducted on all the 81 targeted firms. The research employed data primary and secondary sources guided by questionnaire and data collection sheet respectively. The study instrument had been pilot tested to ensure it was valid and reliable enough. A test for normality and autocorrelation was also carried out, after which the collected data was analyzed quantitatively using descriptive and inferential statistics. The data was presented in form of tables, charts and narratives. The study established that foreign equity shareholdingItem Diaspora Remittances and Financial Inclusion in Kenya(Kenyatta University, 2021-01) Arthur, Emmanuel KwesiFinancial inclusion is important in maximising the developmental impact of diaspora remittances. It formalises remittance inflows, reduce transfer costs and facilitate their investment into productive activities. It plays a multidimensional role in facilitating domestic and international transactions through financial institutions to mobilise migrants’ savings remitted back to their home country and to broaden the credit availability to those at the diaspora and the citizens within. The Kenyan government’s commitment to include the Kenyan diaspora into the national development process led to the launching of Kenyan Diaspora Policy in 2015 as part of the Kenya’s vision 2030 blue print of which financial inclusion is a pillar. Despite this policy interventions by government, the influence of the policy interventions on financial inclusion is not known. This study sought to check if the policy interventions achieved its objective. It examined the effect of diaspora remittances on financial inclusion in Kenya for a quarterly period from 2008 to 2018. The specific objectives of this study were to examine the effect of formal diaspora remittance received per corridor, transaction cost per corridor and remittance channels per corridor on financial inclusion in Kenya. The study also tested the moderating effect of diaspora policy on the relationship between diaspora remittances and financial inclusion. This study was anchored on pure altruism theories, financial literacy theory, asymmetric information theory and financial growth theory. Descriptive and causal research designs were employed in this study. The target population comprised 2 commercial banks and 19 money remittance providers registered with Central Bank of Kenya while the sample population is quarterly data from 2008 to 2018. The census and stratified sampling design were utilised where census method was first used to include the formal diaspora remittance inflows for the ten-year period and then stratified into corridors for the period under study. Secondary data from the Central Bank of Kenya, Kenya National Bureau of Statistics and World Bank was analysed using time series multiple regression analysis. Diagnostic tests were carried out to ensure the time series assumptions were not violated. The results of the study shows that formal diaspora remittances had a positive and significant effect on financial inclusion, remittance transaction costs had a negative but significant effect on financial inclusion while remittance channels had a positive and significant effect on financial inclusion in Kenya. Although diaspora policy had a significant effect on the relationship between diaspora remittances and financial inclusion, the effect was weak. The study recommends that remittances might be volatile due to economic uncertainties hence sound macroeconomic policies and favourable business environment may be put in place by policy makers to maximize the potential benefits of these inflows. Government may consider formulating and implementing policies that seeks to reduce transaction costs within Rest of the World since it greatly affects financial inclusion in Kenya. The financial sector particularly commercial banks may be restructured to embrace formal transfer of diaspora remittances at a cheaper fee. The use of Fintech and MPesa could be greatly encouraged since it turns to positively impacts of financial inclusion. The study also recommended that the everincreasing threat of terrorism necessitates the close monitoring of international flows of funds, which is considerably easier to accomplish when funds flow through transparent, formal channelsItem Corporate Sustainability Practices and Financial Performance of Firms Listed in the Nairobi Securities Exchange, Kenya(Kenyatta University, 2022-07) Mbuthia, Jesee N.AbstractItem Financial Innovations and Performance of Tier 111 Commercial Banks in Kenya(Kenyatta University, 2022-12) Mwangu, Resa JamesAbstractItem Corporate Governance and Financial Performance Of Quasi-Government Organizations in Kenya(Kenyatta University, 2023-06) Manduku, Erick ObegiAbstractItem Firm Characteristics and Financial Performance of Deposit Taking Saving Savings and Credit Co-Operatives in Nairobi City County, Kenya(Kenyatta University, 2022-05) Mutunga, Moses M.AbstractItem Principals’ Financial Management Capabilities and Financial Health of Public Secondary Schools in Nyeri County, Kenya(Kenyatta University, 2022-06) Munyalo, Andrew JosephAbstractItem Budgeting Process and Absorption of Budgetary Allocation for Development in the State Department of Livestock, Kenya(Kenyatta University, 2023-02) Okongo, Edmund WafulaAbstractItem Loan Characteristics and Financial Performance of Small and Medium Enterprises in Bungoma County, Kenya(Kenyatta University, 2023-07) Wakhungu, Mathew MarutiAbstractItem Financial Risk and Cost Efficiency of General Insurance Companies in Kenya(Kenyatta University, 2022-07) Chepkirui, SharonInsurance companies play a key role in protecting customers from the risks that they are insured against them occurs. In order for insurance firms to meet this objective they incur costs that are related o this and so the firms should be financially sound and meet every need as it arises. Cost efficiency is the manner in which the processes and products are transformed to minimize costs in order (0 add value to the firm. Cost efliciency is enhanced through different strategies to make directions, drive innovation, and reduce operational costs as well as to minimize financial risk. There has been increasing inputs in the insurance industry in terms of wages for highly qualified stafY, costly digital software and competition from both insurance and banking sector which may reduce the profitability. General insurance companies in Kenya have been underperforming in recent years leading to massive losses as a result of increased costs and reduced revenues leading to reduced efficiency. The study sought to ascertain the effect of financial risk on the cost cfficiency of general insurance in Kenya. Specifically: credit risk, liquidity risk, interest rate risk, and foreign exchange rate risk on cost efficiency and finally to evaluate the moderating effect of capital adequacy on the relationship between financial risk and cost efficiency. This study used the Neoclassical Theory of the Firm, the Arbitrage Pricing Theory, Theory of Optimal Capital Structure and the X-efficiency Theory. Explanatory research design, and Data Envelopment Analysis model was employed to analyze general insurance companies from 2015 to 2019.DEA and panel data logit model was also adopted. The study targeted 38 general insurance companies in Kenya and formed a sample size of 38 using the census method because of the small number. The study conducted descriptive and inferential analysis. Correlation and logit regression analysis to establish the relationship between the variables. The study found that credit risk and cost efficiency were negatively and significantly related (B=-5.6018, P=0.0123). This mecans that cost efficiency would . increase with a decrease in credit risk. The study also showed that liquidity risk has a negative and significant effect on cost efficiency (=-15.1983, P=0.001). This implies that when liquidity gap increases then the cost efficiency of a firm decreases significantly. Moreover, interest rate risk was positively and significantly related to cost efficiency ratio (B=9.277, P=0.004). This implies that when liquidity gap increases then the cost efficiency of a firm decreases significantly. The study also revealed that foreign exchange risk negatively affects cost efficiency (B=-0.1093, P=0.027). This implies that the bigger the position an insurance firm holds in foreign markets relative to local markets, the more exposed they are to fluctuations in exchange rates. The study therefore concluded that credit risk, liquidity risk and foreign exchange risk had a negative influence on cost cfficiency while interest rate risk had a positive influence on cost efficiency of general insurance companies in Kenya. Finally, it can be concluded that capital adequacy moderates the relationship between financial risk and cost efficiency among insurance firms in Kenya. The study recommends that general insurance companies should have sufficient capital reserves in order to be able to handle financial risks they are exposed to should they occur and that the IRA should set up policies that guide the industry and enable insurance companies to improve their cost efficiency and reduce their exposure to different forms of financial risk. The study also reccommended that further research be conducted on other factors that may affect cost efficicncy apart from those discussed in the study.Item Financing Options and Growth Rate of Real Estate Development Companies in Kenya(Kenyatta University, 2021-04) Njoroge, Geoffrey MuturiFinancing decisions have been a challenge to real estate developers in Kenya. This has been attributed by capital intensiveness of the projects. It is anticipated that real estate sector should develop at the same rate compared to the demand. In Nairobi County the annual demand is Two Hundred Thousand houses whereas the units supplied is Fifty Thousand on yearly basis thus outlining a deficit of One Hundred and Fifty units. Past studies shows that where a healthy financial market triumphs, investors have options for projects funding. This current study seeks to establish the effect of financing option on real estate growth in Kenya. The specific objectives were; to establish the effect of mortgage financing, retained earnings, private Equity, joint venture and moderating effect of firm size on relationship between financing options and growth rate of real estate development companies in Kenya. The study was anchored by the following theories namely: lien theory of mortgage financing, pecking order theory, transaction costs theory, resource dependency theory and housing cycle theory. The target population of this study comprised of all the seventy-two companies who are members of the Kenya Property Developers Association (KPDA). The sample size comprised of twenty three companies. This study used descriptive research design with a regression model with the regressor being real estate growth rate which was expressed in growth rates of housing units for each firm. Therefore, this study followed panel data analysis as individual firm data was collected for a time span of five years 2014 to 2018. Results showed that mortgage financing positively but immaterially affected growth rates of real estate development companies in Kenya. Further results showed that retained earnings as source of financing option reduced significantly growth rates of real estate development companies. Private equity was found to improve growth rates of real estate development companies positively. Joint venture too positively but inconsequentially influenced growth rates of real estate development companies in Kenya. Lastly, firm size was found to be a non-moderator but rather an explanatory variable and impaired growth rates in a significant manner. Private Equity had significant influence on growth rate hence it was highly recommended for consideration in housing development.Item Firm Characteristics and Loan Performance of Deposits Taking Savings and Credit Cooperative Societies in Nairobi City County, Kenya(2023-12) Rutere Wamuyu PurityAbstractItem Strategic Management Practices, Performance, Kenya Airways Limited, Nairobi City County, Kenya(Kenyatta University, 2024-11) Mutie, Francis NdambukiAbstractItem Internal Control Systems and Revenue Collection Performance of the Government of Kericho County, Kenya(Kenyatta University, 2023-06) Kipkurui Koros BenardAbstract